Syon Capital LLC Has $1.71 Million Position in 10x Genomics $TXG

Syon Capital LLC cut its holdings in 10x Genomics (NASDAQ:TXG) by 18.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 44,702 shares of the company’s stock after selling 10,201 shares during the period. Syon Capital LLC’s holdings in 10x Genomics were worth $1,714,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in TXG. AQR Capital Management LLC grew its holdings in 10x Genomics by 241.3% in the 2nd 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 during the last quarter. Millennium Management LLC lifted its holdings in shares of 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 during the last quarter. Wellington Management Group LLP lifted its holdings in shares of 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 during the last quarter. Quantinno Capital Management LP boosted its position in shares of 10x Genomics by 207.2% in the second quarter. Quantinno Capital Management LP now owns 2,233,526 shares of the company’s stock valued at $25,864,000 after acquiring an additional 1,506,530 shares during the period. Finally, Casdin Capital LLC bought a new stake in shares of 10x Genomics in the fourth quarter valued at approximately $22,834,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

10x Genomics Stock Performance

Shares of TXG stock opened at $62.65 on Friday. 10x Genomics has a 52-week low of $11.16 and a 52-week high of $66.94. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of -106.18 and a beta of 2.08. The firm has a fifty day moving average of $50.92 and a 200-day moving average of $33.35.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate 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%. The firm’s revenue was down 12.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.28 EPS. On average, sell-side analysts predict that 10x Genomics will post -0.75 earnings per share for the current year.

Insider Activity

In other news, insider Benjamin J. Hindson sold 13,818 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $63.02, for a total value of $870,810.36. Following the sale, the insider directly owned 488,182 shares in the company, valued at approximately $30,765,229.64. This represents a 2.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 value of $186,741.49. Following the completion of the transaction, the director directly owned 31,722 shares of the company’s stock, valued at approximately $1,035,088.86. The trade was a 15.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 117,945 shares of company stock valued at $6,304,588. 8.84% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TXG shares. Royal Bank Of Canada initiated coverage on shares of 10x Genomics in a research report on Tuesday. They set a “sector perform” rating and a $70.00 target price on the stock. TD Cowen restated a “hold” rating on shares of 10x Genomics in a report on Wednesday, July 15th. Citigroup upped their price objective on shares of 10x Genomics from $45.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Piper Sandler increased their target price on shares of 10x Genomics from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Finally, Canaccord Genuity Group lifted their target price on 10x Genomics from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Five equities research 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $40.57.

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.