7,724 Shares in 10x Genomics $TXG Bought by QP Wealth Management LLC

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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Fifth Third Bancorp acquired a new position in 10x Genomics during the first quarter valued at approximately $50,000. Elevation Wealth Partners LLC lifted its stake in shares of 10x Genomics by 332.3% in the second quarter. Elevation Wealth Partners LLC now owns 1,487 shares of the company’s stock worth $57,000 after buying an additional 1,143 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of 10x Genomics in the third quarter worth $68,000. Farther Finance Advisors LLC lifted its stake in shares of 10x Genomics by 29.9% in the third quarter. Farther Finance Advisors LLC now owns 934 shares of the company’s stock worth $84,000 after buying an additional 215 shares during the last quarter. Finally, Nykredit A S bought a new stake in shares of 10x Genomics during the 2nd quarter worth $126,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other 10x Genomics news, Director Shehnaaz Suliman sold 5,723 shares of the firm’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $81.19, for a total value of $464,650.37. Following the sale, the director directly owned 23,792 shares in the company, valued at $1,931,672.48. This trade represents a 19.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Benjamin Hindson sold 13,818 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $63.02, for a total transaction of $870,810.36. Following the transaction, the insider owned 488,182 shares in the company, valued at approximately $30,765,229.64. The trade was 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 ninety days, insiders sold 179,333 shares of company stock worth $11,810,070. 8.84% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of 10x Genomics in a research note on Monday, September 21st. Argus began coverage on shares of 10x Genomics in a report on Monday, September 28th. They issued a “buy” rating and a $110.00 target price on the stock. Barclays lifted their target price on shares of 10x Genomics from $52.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, October 7th. Citigroup boosted their target price on shares of 10x Genomics from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Finally, Royal Bank Of Canada initiated coverage on shares of 10x Genomics in a report on Tuesday, September 1st. They set a “sector perform” rating and a $70.00 price target for the company. Six research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $68.00.

10x Genomics Trading Up 2.2%

TXG opened at $71.46 on Wednesday. The business has a 50 day moving average of $71.59 and a 200-day moving average of $46.36. The stock has a market capitalization of $9.31 billion, a price-to-earnings ratio of -121.12 and a beta of 1.99. 10x Genomics has a 1-year low of $12.08 and a 1-year high of $102.81.

10x Genomics (NASDAQ:TXG) last announced its 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. The business had revenue of $151.04 million for the quarter, compared to analyst estimates of $146.67 million. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.33%. 10x Genomics’s revenue was down 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.28 earnings per share. Equities analysts predict that 10x Genomics will post -0.75 EPS for the current year.

10x Genomics Profile

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.