Proficio Capital Partners LLC Purchases Shares of 20,359 10x Genomics $TXG

Proficio Capital Partners LLC purchased a new position in shares of 10x Genomics (NASDAQ:TXG) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 20,359 shares of the company’s stock, valued at approximately $781,000.

A number of other institutional investors have also modified their holdings of the stock. North Star Asset Management Inc. acquired a new position in shares of 10x Genomics in the 2nd quarter valued at about $988,000. Public Employees Retirement System of Ohio acquired a new stake in 10x Genomics during the second quarter worth about $2,683,000. Regent Peak Wealth Advisors LLC acquired a new stake in 10x Genomics during the second quarter worth about $323,000. Tactive Advisors LLC purchased a new position in 10x Genomics during the second quarter valued at approximately $479,000. Finally, Elevation Wealth Partners LLC raised its position in 10x Genomics by 332.3% during the second quarter. Elevation Wealth Partners LLC now owns 1,487 shares of the company’s stock valued at $57,000 after acquiring an additional 1,143 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Stifel Nicolaus set a $50.00 price target on 10x Genomics in a report on Friday, August 7th. Royal Bank Of Canada assumed coverage on shares of 10x Genomics in a research note on Tuesday. They set a “sector perform” rating and a $70.00 price objective on the stock. Citigroup lifted their target price on shares of 10x Genomics from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Canaccord Genuity Group increased their price target on shares of 10x Genomics from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of 10x Genomics in a research report on Wednesday, June 24th. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $40.57.

10x Genomics Trading Down 4.0%

NASDAQ TXG opened at $59.98 on Wednesday. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of -101.66 and a beta of 2.08. 10x Genomics has a twelve month low of $11.16 and a twelve month high of $66.94. The stock has a 50-day moving average of $49.31 and a 200 day moving average of $32.51.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping 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 company had revenue of $151.04 million for the quarter, compared to the consensus estimate of $146.67 million. During the same quarter in the prior year, the business posted $0.28 earnings per share. 10x Genomics’s revenue for the quarter was down 12.7% on a year-over-year basis. Equities analysts predict that 10x Genomics will post -0.75 EPS for the current fiscal year.

Insider Buying and Selling at 10x Genomics

In other news, Director Shehnaaz Suliman sold 5,723 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $32.63, for a total transaction of $186,741.49. Following the transaction, the director owned 31,722 shares in the company, valued at $1,035,088.86. This trade represents a 15.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Benjamin J. Hindson sold 13,818 shares of 10x Genomics stock in a transaction on Monday, August 24th. The shares were sold at an average price of $63.02, for a total transaction of $870,810.36. Following the completion of the sale, the insider directly owned 488,182 shares in the company, valued at $30,765,229.64. This represents a 2.75% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 117,945 shares of company stock worth $6,304,588. 8.84% of the stock is currently owned by corporate insiders.

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.