M&T Bank Corp Buys 52,771 Shares of 10x Genomics $TXG

M&T Bank Corp lifted its stake in shares of 10x Genomics (NASDAQ:TXG) by 258.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 73,188 shares of the company’s stock after acquiring an additional 52,771 shares during the period. M&T Bank Corp’s holdings in 10x Genomics were worth $1,194,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Foundations Investment Advisors LLC bought a new position in shares of 10x Genomics in the third quarter worth about $665,000. AlphaQuest LLC boosted its stake in shares of 10x Genomics by 234.3% in the third quarter. AlphaQuest LLC now owns 133,419 shares of the company’s stock worth $1,560,000 after acquiring an additional 93,514 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of 10x Genomics in the third quarter worth about $1,179,000. JPMorgan Chase & Co. boosted its stake in shares of 10x Genomics by 777.6% in the third quarter. JPMorgan Chase & Co. now owns 1,073,865 shares of the company’s stock worth $12,553,000 after acquiring an additional 951,495 shares during the period. Finally, Dynasty Wealth Management LLC bought a new position in shares of 10x Genomics in the third quarter worth about $280,000. Institutional investors own 84.68% of the company’s stock.

10x Genomics Price Performance

Shares of TXG stock opened at $22.05 on Friday. 10x Genomics has a 1 year low of $7.72 and a 1 year high of $26.44. The stock’s 50 day simple moving average is $21.32 and its two-hundred day simple moving average is $18.64. The company has a market cap of $2.82 billion, a PE ratio of -63.00 and a beta of 2.17.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Thursday, February 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. 10x Genomics had a negative return on equity of 6.89% and a negative net margin of 6.77%.The business had revenue of $166.03 million for the quarter, compared to the consensus estimate of $160.35 million. During the same period in the prior year, the business posted ($0.40) earnings per share. The company’s quarterly revenue was up .6% compared to the same quarter last year. Equities research analysts expect that 10x Genomics will post -0.82 EPS for the current year.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $24.56, for a total transaction of $122,800.00. Following the sale, the chief executive officer directly owned 1,167,273 shares in the company, valued at $28,668,224.88. This represents a 0.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Benjamin J. Hindson sold 7,826 shares of the stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $18.58, for a total value of $145,407.08. Following the completion of the sale, the insider owned 424,779 shares in the company, valued at approximately $7,892,393.82. The trade was a 1.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 46,426 shares of company stock worth $902,695 over the last ninety days. Company insiders own 9.39% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TXG. Stifel Nicolaus upped their price objective on 10x Genomics from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Leerink Partners dropped their price objective on 10x Genomics from $22.00 to $20.00 and set a “market perform” rating for the company in a research note on Tuesday, January 27th. Deutsche Bank Aktiengesellschaft set a $17.00 price objective on 10x Genomics and gave the stock a “hold” rating in a research note on Friday, February 13th. William Blair raised 10x Genomics from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 31st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 10x Genomics in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.82.

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.