Squarepoint Ops LLC Takes Position in 10x Genomics $TXG

Squarepoint Ops LLC purchased a new stake in shares of 10x Genomics (NASDAQ:TXG) in the second quarter, HoldingsChannel reports. The institutional investor purchased 53,966 shares of the company’s stock, valued at approximately $2,069,000.

Several other institutional investors and hedge funds also recently bought and sold shares of TXG. Elevation Wealth Partners LLC raised its holdings in 10x Genomics by 332.3% during the second quarter. Elevation Wealth Partners LLC now owns 1,487 shares of the company’s stock valued at $57,000 after acquiring an additional 1,143 shares during the period. Larson Financial Group LLC boosted its stake in shares of 10x Genomics by 164.4% during the 4th quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock worth $39,000 after purchasing an additional 1,470 shares during the period. Fifth Third Bancorp bought a new position in 10x Genomics in the 1st quarter valued at $50,000. Nykredit A S purchased a new stake in 10x Genomics in the 2nd quarter valued at about $126,000. Finally, Three Seasons Wealth LLC purchased a new position in 10x Genomics during the 2nd quarter worth $208,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

10x Genomics Stock Performance

10x Genomics stock opened at $70.11 on Tuesday. 10x Genomics has a 1 year low of $11.16 and a 1 year high of $70.46. The company’s 50 day simple moving average is $54.28 and its 200-day simple moving average is $35.47. The company has a market capitalization of $9.13 billion, a price-to-earnings ratio of -118.83 and a beta of 2.08.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.10. The firm had revenue of $151.04 million for the quarter, compared to the consensus estimate of $146.67 million. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.33%. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 EPS. Equities analysts expect that 10x Genomics will post -0.75 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on TXG. Stifel Nicolaus set a $50.00 target price on 10x Genomics in a report on Friday, August 7th. Piper Sandler raised their price target on shares of 10x Genomics from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Citigroup increased their price target on shares of 10x Genomics from $45.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Royal Bank Of Canada began coverage on 10x Genomics in a report on Tuesday, September 1st. They issued a “sector perform” rating and a $70.00 price objective for the company. Finally, Morgan Stanley upped their price objective on shares of 10x Genomics from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $44.00.

Insider Buying and Selling

In other news, insider Benjamin J. Hindson sold 13,818 shares of 10x Genomics stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $63.02, for a total value of $870,810.36. Following the sale, the insider owned 488,182 shares of the company’s stock, valued at $30,765,229.64. The trade was a 2.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John R. Stuelpnagel sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $61.75, for a total transaction of $1,235,000.00. Following the completion of the sale, the director owned 328,436 shares of the company’s stock, valued at approximately $20,280,923. The trade was a 5.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 178,610 shares of company stock valued at $10,348,120 in the last 90 days. Company insiders own 8.84% of the company’s stock.

10x Genomics Company Profile

10x Genomics, Inc develops life science technology for analyzing biological systems at the single-cell and spatial levels. Its platforms are designed to help researchers study gene expression, genetic variation, cell populations and tissue organization with greater detail than conventional laboratory methods.

The company’s product portfolio includes the Chromium platform for single-cell analysis, Visium solutions for spatial transcriptomics and tissue profiling, and Xenium in situ platforms for high-resolution analysis of RNA and other biological features within tissue samples.