Federated Hermes Inc. Sells 136,157 Shares of 10x Genomics $TXG

Federated Hermes Inc. trimmed its position in 10x Genomics (NASDAQ:TXG) by 17.3% in the third quarter, HoldingsChannel reports. The firm owned 651,365 shares of the company’s stock after selling 136,157 shares during the quarter. Federated Hermes Inc.’s holdings in 10x Genomics were worth $7,614,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TXG. Allworth Financial LP increased its stake in 10x Genomics by 150.4% during the 2nd quarter. Allworth Financial LP now owns 2,271 shares of the company’s stock worth $26,000 after purchasing an additional 1,364 shares in the last quarter. True Wealth Design LLC boosted its stake in shares of 10x Genomics by 1,552.5% in the 2nd quarter. True Wealth Design LLC now owns 3,586 shares of the company’s stock valued at $42,000 after purchasing an additional 3,369 shares during the last quarter. Blue Trust Inc. boosted its holdings in 10x Genomics by 48.1% in the second quarter. Blue Trust Inc. now owns 4,894 shares of the company’s stock worth $57,000 after acquiring an additional 1,590 shares in the last quarter. EverSource Wealth Advisors LLC lifted 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 valued at $87,000 after purchasing an additional 5,025 shares in the last quarter. Finally, Focus Partners Wealth purchased a new stake in 10x Genomics in the 1st quarter worth about $92,000. 84.68% of the stock is owned by institutional investors.

10x Genomics Stock Performance

TXG opened at $20.20 on Monday. The company has a market cap of $2.56 billion, a PE ratio of -32.58 and a beta of 2.24. The stock has a 50-day moving average of $18.64 and a 200-day moving average of $15.24. 10x Genomics has a 52-week low of $6.78 and a 52-week high of $23.56.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.05. 10x Genomics had a negative return on equity of 11.50% and a negative net margin of 11.89%.The firm had revenue of $149.00 million during the quarter, compared to analysts’ expectations of $142.50 million. During the same period in the previous year, the business posted ($0.30) EPS. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, research analysts predict that 10x Genomics will post -1.43 earnings per share for the current year.

Insider Activity at 10x Genomics

In related news, CEO Serge Saxonov sold 13,261 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $19.00, for a total value of $251,959.00. Following the transaction, the chief executive officer directly owned 1,021,556 shares in the company, valued at approximately $19,409,564. This represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Adam Taich sold 11,888 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of $19.00, for a total transaction of $225,872.00. Following the sale, the chief financial officer directly owned 297,385 shares of the company’s stock, valued at $5,650,315. The trade was a 3.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 33,432 shares of company stock worth $635,208 over the last quarter. Company insiders own 10.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TXG shares. Needham & Company LLC set a $21.00 price target on 10x Genomics in a research note on Monday, January 12th. Zacks Research cut 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a research report on Monday, December 22nd. Morgan Stanley restated an “equal weight” rating and set a $20.00 price objective (up from $17.00) on shares of 10x Genomics in a research note on Monday, December 1st. Finally, Citigroup cut shares of 10x Genomics from a “buy” rating to a “cautious” rating in a research note on Thursday, December 11th. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $16.83.

About 10x Genomics

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.