Granite Investment Partners LLC Has $8.97 Million Stock Position in 10x Genomics, Inc. (NASDAQ:TXG)

Granite Investment Partners LLC lessened its position in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 9.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 461,013 shares of the company’s stock after selling 48,020 shares during the quarter. Granite Investment Partners LLC owned about 0.39% of 10x Genomics worth $8,967,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in 10x Genomics by 24.6% during the 4th quarter. Victory Capital Management Inc. now owns 12,738 shares of the company’s stock worth $713,000 after acquiring an additional 2,515 shares during the period. Norges Bank acquired a new stake in shares of 10x Genomics during the fourth quarter worth $36,262,000. Dynamic Technology Lab Private Ltd bought a new stake in 10x Genomics in the fourth quarter valued at about $596,000. Balentine LLC acquired a new position in 10x Genomics in the fourth quarter valued at about $291,000. Finally, US Bancorp DE lifted its stake in 10x Genomics by 19.4% in the fourth quarter. US Bancorp DE now owns 15,212 shares of the company’s stock valued at $851,000 after buying an additional 2,469 shares during the period. Institutional investors own 84.68% of the company’s stock.

Insider Activity

In related 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 of the company’s stock, valued at $19,881,981.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Justin J. Mcanear sold 2,961 shares of 10x Genomics stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $66,711.33. Following the completion of the transaction, the chief financial officer now owns 143,242 shares of the company’s stock, valued at approximately $3,227,242.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Serge Saxonov sold 6,749 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $152,054.97. Following the completion of the sale, the chief executive officer now directly owns 882,467 shares in the company, valued at $19,881,981.51. The disclosure for this sale can be found here. Insiders sold 14,061 shares of company stock worth $316,794 in the last quarter. Corporate insiders own 10.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TXG. Canaccord Genuity Group decreased their target price 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. Wolfe Research reaffirmed a “peer perform” rating on shares of 10x Genomics in a research note on Thursday, June 27th. Stephens reissued an “overweight” rating and set a $30.00 price target on shares of 10x Genomics in a research report on Wednesday, September 4th. Stifel Nicolaus lowered their price objective on shares of 10x Genomics from $53.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, July 16th. Finally, Leerink Partnrs upgraded 10x Genomics to a “strong-buy” rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.60.

10x Genomics Stock Up 6.3 %

NASDAQ:TXG opened at $23.48 on Friday. 10x Genomics, Inc. has a twelve month low of $15.28 and a twelve month high of $57.90. The company has a market cap of $2.83 billion, a P/E ratio of -10.53 and a beta of 1.85. The business has a 50 day moving average price of $20.78 and a two-hundred day moving average price of $25.52.

10x Genomics (NASDAQ:TXG) last released its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.15. 10x Genomics had a negative net margin of 37.90% and a negative return on equity of 28.23%. The business had revenue of $153.10 million during the quarter, compared to the consensus estimate of $150.90 million. As a group, analysts anticipate that 10x Genomics, Inc. will post -1.32 earnings per share for the current fiscal year.

About 10x Genomics

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.