NFSG Corp Makes New $444,000 Investment in 10x Genomics $TXG

NFSG Corp acquired a new stake in 10x Genomics (NASDAQ:TXG) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 20,900 shares of the company’s stock, valued at approximately $444,000.

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

10x Genomics Stock Performance

Shares of TXG opened at $45.75 on Thursday. 10x Genomics has a 52 week low of $11.16 and a 52 week high of $46.32. The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of -269.12 and a beta of 2.05. The stock has a fifty day moving average of $31.27 and a 200-day moving average of $24.31.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.19. 10x Genomics had a negative return on equity of 2.86% and a negative net margin of 3.55%.The business had revenue of $150.84 million for the quarter, compared to analyst estimates of $146.41 million. During the same quarter in the previous year, the company posted ($0.28) EPS. 10x Genomics’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, equities analysts forecast that 10x Genomics will post -0.79 EPS for the current year.

Insider Transactions at 10x Genomics

In other news, CFO Adam Taich sold 15,098 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $24.44, for a total value of $368,995.12. Following the completion of the transaction, the chief financial officer owned 379,898 shares of the company’s stock, valued at $9,284,707.12. This represents a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 that occurred on Friday, May 22nd. The shares were sold at an average price of $24.44, for a total transaction of $283,381.80. Following the completion of the transaction, the insider 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. 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 91,309 shares of company stock valued at $2,581,357. Company insiders own 8.84% of the company’s stock.

Analysts Set New Price Targets

TXG has been the subject of a number of recent analyst reports. Zacks Research downgraded 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Barclays raised 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. Bank of America boosted their price target on 10x Genomics from $21.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, April 20th. Morgan Stanley upped their price objective on shares of 10x Genomics from $22.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of 10x Genomics from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, 10x Genomics currently has an average rating of “Hold” and an average price target of $30.42.

About 10x Genomics

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.