QP Wealth Management LLC Acquires New Position in 10x Genomics $TXG

QP Wealth Management LLC acquired a new position in shares of 10x Genomics (NASDAQ:TXG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 7,724 shares of the company’s stock, valued at approximately $698,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Nisa Investment Advisors LLC lifted its position in 10x Genomics by 11.7% in the third quarter. Nisa Investment Advisors LLC now owns 6,239 shares of the company’s stock worth $564,000 after purchasing an additional 653 shares during the period. Prime Capital Investment Advisors LLC bought a new stake in 10x Genomics in the 3rd quarter valued at $226,000. Counterpoint Mutual Funds LLC bought a new stake in 10x Genomics in the 3rd quarter valued at $11,364,000. V Square Quantitative Management LLC bought a new stake in 10x Genomics in the 3rd quarter valued at $68,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of 10x Genomics by 52.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 22,218 shares of the company’s stock valued at $2,008,000 after buying an additional 7,641 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TXG shares. Morgan Stanley raised their price objective on shares of 10x Genomics from $40.00 to $70.00 and gave the stock an “equal weight” rating in a report on Monday, October 12th. Stephens upped their target price on shares of 10x Genomics from $50.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Stifel Nicolaus set a $70.00 target price on shares of 10x Genomics in a research note on Tuesday, October 13th. Piper Sandler increased their price target on shares of 10x Genomics from $47.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, September 28th. Finally, Canaccord Genuity Group increased their price target on shares of 10x Genomics from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Six analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, 10x Genomics currently has an average rating of “Hold” and an average price target of $68.00.

Insider Buying and Selling

In other news, Director John R. Stuelpnagel sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $61.75, for a total value of $1,235,000.00. Following the sale, the director owned 328,436 shares of the company’s stock, valued at approximately $20,280,923. This represents a 5.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Serge Saxonov sold 25,000 shares of the stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $81.22, for a total transaction of $2,030,500.00. Following the sale, the chief executive officer owned 1,050,249 shares of the company’s stock, valued at $85,301,223.78. This trade represents a 2.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 179,333 shares of company stock worth $11,810,070 in the last three months. Company insiders own 8.84% of the company’s stock.

10x Genomics Price Performance

Shares of TXG stock opened at $71.46 on Wednesday. The stock’s fifty day simple moving average is $71.59 and its 200 day simple moving average is $46.36. The firm has a market cap of $9.31 billion, a price-to-earnings ratio of -121.12 and a beta of 1.99. 10x Genomics has a one year low of $12.08 and a one year high of $102.81.

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

About 10x Genomics

10x Genomics, Inc is a life sciences technology company that develops tools for analyzing biological systems at the single-cell and spatial levels. Its technologies are designed to help researchers study gene expression, cellular interactions, tissue organization and other biological processes in greater detail than conventional laboratory methods.

The company’s product portfolio includes the Chromium platform for single-cell analysis, the Visium platform for spatial transcriptomics, and the Xenium platform for high-resolution in situ analysis of tissue samples.