CenterBook Partners LP Invests $3.76 Million in 10x Genomics $TXG

CenterBook Partners LP bought a new position in shares of 10x Genomics (NASDAQ:TXG) during the fourth quarter, HoldingsChannel reports. The fund bought 230,772 shares of the company’s stock, valued at approximately $3,764,000.

Other hedge funds have also modified their holdings of the company. Geneos Wealth Management Inc. purchased a new position in shares of 10x Genomics during the fourth quarter worth approximately $38,000. Larson Financial Group LLC grew its position in shares of 10x Genomics by 164.4% during the fourth quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock worth $39,000 after acquiring an additional 1,470 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of 10x Genomics during the third quarter worth approximately $56,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of 10x Genomics by 28.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,660 shares of the company’s stock worth $92,000 after acquiring an additional 1,237 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of 10x Genomics by 203.9% during the second quarter. EverSource Wealth Advisors LLC now owns 7,490 shares of the company’s stock worth $87,000 after acquiring an additional 5,025 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TXG shares. JPMorgan Chase & Co. raised their target price on shares of 10x Genomics from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. William Blair upgraded shares of 10x Genomics from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 31st. Zacks Research lowered shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Citigroup lifted their price objective on shares of 10x Genomics from $18.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, April 7th. Finally, UBS Group lifted their price objective on shares of 10x Genomics from $14.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $23.17.

Insiders Place Their Bets

In other 10x Genomics news, CEO Serge Saxonov sold 10,718 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $24.71, for a total transaction of $264,841.78. Following the sale, the chief executive officer directly owned 1,138,380 shares in the company, valued at approximately $28,129,369.80. The trade was a 0.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Benjamin J. Hindson sold 11,595 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $24.44, for a total transaction of $283,381.80. Following the sale, the insider owned 502,000 shares in the company, valued at $12,268,880. The trade was a 2.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 75,586 shares of company stock worth $1,773,116. Corporate insiders own 8.84% of the company’s stock.

10x Genomics Price Performance

NASDAQ:TXG opened at $29.18 on Tuesday. The firm’s fifty day moving average price is $23.83 and its 200 day moving average price is $20.69. 10x Genomics has a 1-year low of $9.30 and a 1-year high of $35.65. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of -171.65 and a beta of 2.12.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.19. 10x Genomics had a negative net margin of 3.55% and a negative return on equity of 2.86%. The firm had revenue of $150.84 million for the quarter, compared to analyst estimates of $146.41 million. During the same period last year, the firm posted ($0.28) EPS. 10x Genomics’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, analysts expect that 10x Genomics will post -0.79 earnings per share for the current fiscal year.

10x Genomics Profile

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.