Truist Financial Corp Has $204,000 Stock Position in 10x Genomics, Inc. (NASDAQ:TXG)

Truist Financial Corp reduced its position in 10x Genomics, Inc. (NASDAQ:TXG) by 7.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 10,463 shares of the company’s stock after selling 804 shares during the period. Truist Financial Corp’s holdings in 10x Genomics were worth $204,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TXG. ARK Investment Management LLC grew its stake in shares of 10x Genomics by 48.2% during the second quarter. ARK Investment Management LLC now owns 9,313,763 shares of the company’s stock worth $181,153,000 after purchasing an additional 3,029,951 shares during the period. Vanguard Group Inc. increased its holdings in 10x Genomics by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,101,536 shares of the company’s stock worth $341,581,000 after buying an additional 90,204 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in 10x Genomics by 69.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,143,067 shares of the company’s stock valued at $119,483,000 after purchasing an additional 2,521,289 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of 10x Genomics by 17.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,657,227 shares of the company’s stock valued at $137,257,000 after buying an additional 553,053 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. boosted its stake in shares of 10x Genomics by 58.6% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock worth $135,780,000 after acquiring an additional 1,338,248 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Canaccord Genuity Group dropped their price target on 10x Genomics from $32.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. 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. Leerink Partnrs upgraded shares of 10x Genomics to a “strong-buy” rating in a research note on Tuesday, September 3rd. Wolfe Research restated a “peer perform” rating on shares of 10x Genomics in a research report on Thursday, June 27th. Finally, Stifel Nicolaus reduced their price objective on 10x Genomics from $53.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, 10x Genomics presently has an average rating of “Moderate Buy” and a consensus price target of $30.60.

Insider Buying and Selling at 10x Genomics

In other news, insider Benjamin J. Hindson sold 4,351 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $98,028.03. Following the completion of the transaction, the insider now directly owns 345,704 shares in the company, valued at $7,788,711.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other 10x Genomics news, CFO Justin J. Mcanear sold 2,961 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $66,711.33. Following the completion of the sale, the chief financial officer now directly owns 143,242 shares in the company, valued at approximately $3,227,242.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Benjamin J. Hindson sold 4,351 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $98,028.03. Following the sale, the insider now directly owns 345,704 shares of the company’s stock, valued at $7,788,711.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,061 shares of company stock worth $316,794. 10.03% of the stock is currently owned by company insiders.

10x Genomics Stock Up 3.9 %

Shares of TXG stock opened at $15.44 on Friday. The business has a fifty day simple moving average of $21.09 and a 200 day simple moving average of $22.63. The company has a market cap of $1.84 billion, a P/E ratio of -6.92 and a beta of 1.85. 10x Genomics, Inc. has a twelve month low of $14.02 and a twelve month high of $57.90.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.15. The firm had revenue of $153.10 million during the quarter, compared to the consensus estimate of $150.90 million. 10x Genomics had a negative return on equity of 28.23% and a negative net margin of 37.90%. As a group, equities research analysts anticipate that 10x Genomics, Inc. will post -1.35 earnings per share for the current fiscal 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.