10x Genomics $TXG Shares Purchased by Sei Investments Co.

Sei Investments Co. raised its holdings in shares of 10x Genomics (NASDAQ:TXG) by 113.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,679 shares of the company’s stock after purchasing an additional 23,748 shares during the period. Sei Investments Co.’s holdings in 10x Genomics were worth $949,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geneos Wealth Management Inc. acquired a new position in shares of 10x Genomics in the 4th quarter valued at about $38,000. Larson Financial Group LLC raised its stake in 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 period. Fifth Third Bancorp acquired a new stake in 10x Genomics during the first quarter worth about $50,000. Van ECK Associates Corp lifted its holdings in 10x Genomics by 85.9% in the fourth 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. Finally, EverSource Wealth Advisors LLC lifted its holdings in 10x Genomics by 203.9% in 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 owned by institutional investors and hedge funds.

Insider Activity at 10x Genomics

In related news, insider Benjamin J. Hindson sold 11,595 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $24.44, for a total transaction of $283,381.80. Following the transaction, the insider owned 502,000 shares in the company, valued at $12,268,880. This trade represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Adam Taich sold 15,098 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $24.44, for a total transaction of $368,995.12. Following the transaction, the chief financial officer owned 379,898 shares in the company, valued at $9,284,707.12. This represents a 3.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 91,309 shares of company stock valued at $2,581,357. Insiders own 8.84% of the company’s stock.

10x Genomics Stock Down 1.2%

TXG stock opened at $57.75 on Thursday. The company has a 50-day simple moving average of $40.93 and a 200 day simple moving average of $28.43. The company has a market capitalization of $7.33 billion, a P/E ratio of -97.88 and a beta of 2.03. 10x Genomics has a fifty-two week low of $11.16 and a fifty-two week high of $60.69.

10x Genomics (NASDAQ:TXG) last released its earnings results on Thursday, August 6th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.10. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.41%. The firm had revenue of $151.04 million for the quarter, compared to analysts’ expectations of $146.67 million. During the same quarter last year, the company earned $0.28 EPS. 10x Genomics’s quarterly revenue was down 12.7% on a year-over-year basis. Equities analysts anticipate that 10x Genomics will post -0.79 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. TD Cowen reaffirmed a “hold” rating on shares of 10x Genomics in a report on Wednesday, July 15th. JPMorgan Chase & Co. raised their price target on 10x Genomics from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Weiss Ratings restated a “sell (d-)” rating on shares of 10x Genomics in a research report on Wednesday, June 24th. Barclays upped their price objective on 10x Genomics from $30.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Finally, Bank of America increased their target price on 10x Genomics from $21.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, 10x Genomics currently has an average rating of “Hold” and an average target price of $38.31.

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.