Syon Capital LLC Has $1.71 Million Stock Position in 10x Genomics $TXG

Syon Capital LLC reduced its position in shares of 10x Genomics (NASDAQ:TXG) by 18.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 44,702 shares of the company’s stock after selling 10,201 shares during the period. Syon Capital LLC’s holdings in 10x Genomics were worth $1,714,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC grew its stake in 10x Genomics by 332.3% during the second quarter. Elevation Wealth Partners LLC now owns 1,487 shares of the company’s stock worth $57,000 after buying an additional 1,143 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of 10x Genomics by 164.4% in the fourth quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock valued at $39,000 after acquiring an additional 1,470 shares during the last quarter. Fifth Third Bancorp acquired a new position in shares of 10x Genomics in the 1st quarter worth approximately $50,000. Nykredit A S acquired a new position in shares of 10x Genomics in the 2nd quarter worth approximately $126,000. Finally, Van ECK Associates Corp grew its position in 10x Genomics by 85.9% during the 4th quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock worth $60,000 after acquiring an additional 1,695 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

10x Genomics Price Performance

TXG opened at $62.65 on Friday. The firm has a 50 day simple moving average of $50.92 and a 200 day simple moving average of $33.35. 10x Genomics has a fifty-two week low of $11.16 and a fifty-two week high of $66.94. The company has a market cap of $8.16 billion, a price-to-earnings ratio of -106.18 and a beta of 2.08.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Canaccord Genuity Group raised their price target on 10x Genomics from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday, August 10th. Morgan Stanley boosted their price objective on 10x Genomics from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of 10x Genomics in a report on Wednesday, June 24th. Citigroup lifted their price target on 10x Genomics from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Finally, Royal Bank Of Canada started coverage on shares of 10x Genomics in a research report on Tuesday. They set a “sector perform” rating and a $70.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $40.57.

Insider Buying and Selling

In related news, CFO Adam Taich sold 17,166 shares of 10x Genomics stock in a transaction on Monday, August 24th. The stock was sold at an average price of $63.02, for a total transaction of $1,081,801.32. Following the completion of the sale, the chief financial officer directly owned 362,732 shares of the company’s stock, valued at $22,859,370.64. The trade was a 4.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Benjamin J. Hindson sold 13,818 shares of the company’s 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 completion of the sale, the insider owned 488,182 shares of the company’s stock, valued at $30,765,229.64. This represents a 2.75% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 117,945 shares of company stock worth $6,304,588 over the last 90 days. 8.84% of the stock is currently owned by corporate insiders.

10x Genomics Company 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.