10x Genomics, Inc. (NASDAQ:TXG) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its position in 10x Genomics, Inc. (NASDAQ:TXG) by 134.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,637 shares of the company’s stock after buying an additional 939 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in 10x Genomics were worth $32,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of TXG. Van ECK Associates Corp increased its holdings in 10x Genomics by 23.4% during the 4th quarter. Van ECK Associates Corp now owns 1,908 shares of the company’s stock worth $107,000 after purchasing an additional 362 shares during the period. Victory Capital Management Inc. increased its position in 10x Genomics by 24.6% during the fourth quarter. Victory Capital Management Inc. now owns 12,738 shares of the company’s stock worth $713,000 after buying an additional 2,515 shares during the period. M&T Bank Corp purchased a new stake in 10x Genomics in the fourth quarter valued at approximately $252,000. Charles Schwab Investment Management Inc. boosted its stake in 10x Genomics by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 924,832 shares of the company’s stock worth $51,754,000 after purchasing an additional 32,709 shares during the period. Finally, Nikko Asset Management Americas Inc. raised its holdings in shares of 10x Genomics by 32.9% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 2,283,530 shares of the company’s stock valued at $127,764,000 after buying an additional 565,059 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TXG. Leerink Partners began coverage on shares of 10x Genomics in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price objective on the stock. Bank of America decreased their price target on 10x Genomics from $36.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, July 18th. Canaccord Genuity Group dropped their price target on 10x Genomics from $50.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft cut shares of 10x Genomics from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $55.00 to $25.00 in a research note on Wednesday, July 10th. Finally, Morgan Stanley cut their target price on shares of 10x Genomics from $50.00 to $46.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, 10x Genomics has a consensus rating of “Moderate Buy” and a consensus price target of $31.60.

Insider Activity at 10x Genomics

In other news, CEO Serge Saxonov sold 6,749 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $152,054.97. Following the completion of the transaction, the chief executive officer now directly owns 882,467 shares in the company, valued at approximately $19,881,981.51. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Serge Saxonov sold 6,749 shares of 10x Genomics stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $152,054.97. Following the completion of the transaction, the chief executive officer now directly owns 882,467 shares in the company, valued at $19,881,981.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Benjamin J. Hindson sold 4,351 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $98,028.03. Following the completion of the sale, the insider now owns 345,704 shares of the company’s stock, valued at $7,788,711.12. The disclosure for this sale can be found here. In the last three months, insiders sold 14,061 shares of company stock valued at $316,794. Corporate insiders own 10.03% of the company’s stock.

10x Genomics Stock Performance

Shares of NASDAQ:TXG opened at $21.82 on Tuesday. 10x Genomics, Inc. has a 1 year low of $15.28 and a 1 year high of $57.90. The stock has a 50-day simple moving average of $20.26 and a 200-day simple moving average of $26.56. The stock has a market capitalization of $2.63 billion, a P/E ratio of -9.78 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.15. The company had revenue of $153.10 million for the quarter, compared to analysts’ expectations of $150.90 million. 10x Genomics had a negative return on equity of 28.23% and a negative net margin of 37.90%. Analysts predict that 10x Genomics, Inc. will post -1.35 earnings per share for the current year.

10x Genomics Profile

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in the America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium, chromium connect, and chromium controller instruments, microfluidic chips, slides, reagents, and other consumables products.