Odyssean LLC Cuts Stake in 10x Genomics $TXG

Odyssean LLC reduced its position in 10x Genomics (NASDAQ:TXG) by 22.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,407 shares of the company’s stock after selling 10,941 shares during the quarter. Odyssean LLC’s holdings in 10x Genomics were worth $1,473,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its holdings in 10x Genomics by 241.3% during the 2nd quarter. AQR Capital Management LLC now owns 4,137,801 shares of the company’s stock worth $47,916,000 after acquiring an additional 2,925,372 shares in the last quarter. Millennium Management LLC increased its position in 10x Genomics by 84.7% during the 3rd quarter. Millennium Management LLC now owns 5,437,969 shares of the company’s stock valued at $63,570,000 after purchasing an additional 2,494,142 shares during the period. Wellington Management Group LLP raised its holdings in shares of 10x Genomics by 126.6% in the 3rd quarter. Wellington Management Group LLP now owns 4,285,628 shares of the company’s stock valued at $50,099,000 after purchasing an additional 2,394,355 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of 10x Genomics by 207.2% in the 2nd quarter. Quantinno Capital Management LP now owns 2,233,526 shares of the company’s stock valued at $25,864,000 after purchasing an additional 1,506,530 shares in the last quarter. Finally, Casdin Capital LLC purchased a new stake in shares of 10x Genomics in the 4th quarter worth approximately $22,834,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

10x Genomics Stock Performance

Shares of 10x Genomics stock opened at $64.72 on Wednesday. The company has a market capitalization of $8.43 billion, a PE ratio of -109.69 and a beta of 2.03. The company has a 50-day simple moving average of $46.38 and a two-hundred day simple moving average of $30.97. 10x Genomics has a one year low of $11.16 and a one year high of $66.94.

10x Genomics (NASDAQ:TXG) last released 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 net margin of 12.18% and a negative return on equity of 9.33%. The business had revenue of $151.04 million for the quarter, compared to analysts’ expectations of $146.67 million. During the same period last year, the business earned $0.28 EPS. The company’s revenue was down 12.7% compared to the same quarter last year. On average, equities analysts predict that 10x Genomics will post -0.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TXG. JPMorgan Chase & Co. increased their price objective on shares of 10x Genomics from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Canaccord Genuity Group boosted their price objective on shares of 10x Genomics from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. TD Cowen restated a “hold” rating on shares of 10x Genomics in a report on Wednesday, July 15th. Stifel Nicolaus set a $50.00 target price on 10x Genomics in a research report on Friday, August 7th. Finally, Piper Sandler lifted their price target on 10x Genomics from $42.00 to $47.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Five equities 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 company presently has a consensus rating of “Hold” and an average price target of $38.31.

Insider Buying and Selling

In related news, Director John R. Stuelpnagel sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $57.75, for a total transaction of $1,155,000.00. Following the completion of the sale, the director owned 348,436 shares of the company’s stock, valued at $20,122,179. This represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Shehnaaz Suliman sold 5,723 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $32.63, for a total transaction of $186,741.49. Following the sale, the director directly owned 31,722 shares of the company’s stock, valued at $1,035,088.86. The trade was a 15.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 55,723 shares of company stock worth $2,374,941 in the last 90 days. 8.84% of the stock is owned by corporate insiders.

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.