Bull Harbor Capital LLC Acquires New Holdings in 10x Genomics $TXG

Bull Harbor Capital LLC bought a new position in 10x Genomics (NASDAQ:TXG) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,701 shares of the company’s stock, valued at approximately $248,000.

Several other hedge funds have also modified their holdings of TXG. Geneos Wealth Management Inc. bought a new stake in shares of 10x Genomics in the 4th quarter valued at about $38,000. Larson Financial Group LLC raised its stake in shares of 10x Genomics by 164.4% during the 4th 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 in the last quarter. Fifth Third Bancorp bought a new position in shares of 10x Genomics during the 1st quarter worth approximately $50,000. Van ECK Associates Corp lifted its position in 10x Genomics by 85.9% during the fourth quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock valued at $60,000 after acquiring an additional 1,695 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in 10x Genomics by 28.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,660 shares of the company’s stock valued at $92,000 after acquiring an additional 1,237 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on TXG shares. Morgan Stanley lifted their price target on shares of 10x Genomics from $22.00 to $37.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Citigroup increased their price objective on 10x Genomics from $24.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of 10x Genomics in a research report on Wednesday, June 24th. Barclays raised their price objective on 10x Genomics from $30.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. boosted their target price on 10x Genomics from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $32.08.

10x Genomics Stock Down 4.4%

Shares of NASDAQ TXG opened at $47.27 on Friday. 10x Genomics has a 52 week low of $11.16 and a 52 week high of $50.34. The business’s 50 day moving average price is $37.09 and its 200 day moving average price is $26.67. The firm has a market cap of $6.00 billion, a P/E ratio of -278.06 and a beta of 2.05.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.19. 10x Genomics had a negative net margin of 3.55% and a negative return on equity of 2.86%. The company had revenue of $150.84 million during the quarter, compared to analyst estimates of $146.41 million. During the same period last year, the firm posted ($0.28) EPS. 10x Genomics’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, research analysts expect that 10x Genomics will post -0.78 earnings per share for the current year.

Insider Buying and Selling at 10x Genomics

In other news, CFO Adam Taich sold 15,098 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $24.44, for a total value of $368,995.12. Following the sale, 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 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, insider Benjamin J. Hindson sold 11,595 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $24.44, for a total transaction of $283,381.80. Following the transaction, the insider directly owned 502,000 shares of the company’s stock, valued at approximately $12,268,880. This trade represents a 2.26% 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. Insiders sold 91,309 shares of company stock valued at $2,581,357 over the last quarter. Insiders own 8.84% of the company’s stock.

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.