Mirador Capital Partners LP Sells 13,657 Shares of 10x Genomics $TXG

Mirador Capital Partners LP trimmed its stake in shares of 10x Genomics (NASDAQ:TXG) by 17.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,636 shares of the company’s stock after selling 13,657 shares during the period. Mirador Capital Partners LP owned about 0.05% of 10x Genomics worth $2,440,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TXG. Geneos Wealth Management Inc. bought a new position in 10x Genomics during the 4th quarter worth about $38,000. Larson Financial Group LLC lifted its holdings 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 purchasing an additional 1,470 shares in the last quarter. Fifth Third Bancorp acquired a new position in shares of 10x Genomics during the first quarter worth about $50,000. Van ECK Associates Corp boosted its position in shares of 10x Genomics by 85.9% during the fourth quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock worth $60,000 after buying an additional 1,695 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of 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 worth $92,000 after buying an additional 1,237 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other 10x Genomics 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 completion of the sale, the chief financial officer owned 379,898 shares in the company, valued at $9,284,707.12. This trade represents a 3.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Serge Saxonov sold 30,000 shares of 10x Genomics stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $34.44, for a total transaction of $1,033,200.00. Following the completion of the transaction, the chief executive officer directly owned 1,108,380 shares of the company’s stock, valued at approximately $38,172,607.20. This trade represents a 2.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 91,309 shares of company stock valued at $2,581,357 over the last three months. Corporate insiders own 8.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on TXG shares. Zacks Research lowered 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Barclays upped their price target on 10x Genomics from $30.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Morgan Stanley lifted their price objective on shares of 10x Genomics from $22.00 to $37.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Canaccord Genuity Group boosted their price objective on shares of 10x Genomics from $32.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Finally, Bank of America increased their target price on shares of 10x Genomics from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, 10x Genomics has a consensus rating of “Hold” and an average price target of $32.08.

10x Genomics Stock Performance

NASDAQ:TXG opened at $47.46 on Thursday. 10x Genomics has a 52-week low of $11.16 and a 52-week high of $50.34. The company has a market cap of $6.03 billion, a P/E ratio of -279.18 and a beta of 2.03. The stock’s 50-day simple moving average is $38.46 and its 200 day simple moving average is $27.27.

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

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.