Blue Trust Inc. Increases Stock Holdings in 10x Genomics, Inc. (NASDAQ:TXG)

Blue Trust Inc. boosted its stake in 10x Genomics, Inc. (NASDAQ:TXG) by 136.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,776 shares of the company’s stock after purchasing an additional 1,025 shares during the quarter. Blue Trust Inc.’s holdings in 10x Genomics were worth $40,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in TXG. Allspring Global Investments Holdings LLC grew its holdings in shares of 10x Genomics by 113.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock worth $26,000 after purchasing an additional 371 shares during the last quarter. GAMMA Investing LLC lifted its stake in 10x Genomics by 451.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock valued at $35,000 after acquiring an additional 1,265 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of 10x Genomics by 74.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock worth $37,000 after purchasing an additional 808 shares during the period. Covestor Ltd lifted its stake in shares of 10x Genomics by 501.7% in the 1st quarter. Covestor Ltd now owns 1,047 shares of the company’s stock worth $39,000 after purchasing an additional 873 shares during the period. Finally, Sound Income Strategies LLC purchased a new stake in 10x Genomics in the 3rd quarter worth approximately $46,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 10x Genomics news, insider Benjamin J. Hindson sold 4,351 shares of the business’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 sale, the insider now owns 345,704 shares of the company’s stock, valued at approximately $7,788,711.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Benjamin J. Hindson sold 4,351 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was 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 directly owns 345,704 shares of the company’s stock, valued at $7,788,711.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Serge Saxonov sold 6,749 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $152,054.97. Following the completion of the sale, the chief executive officer now directly owns 882,467 shares of the company’s stock, valued at approximately $19,881,981.51. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,061 shares of company stock valued at $316,794. Corporate insiders own 10.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TXG shares. The Goldman Sachs Group cut their price objective on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a report on Wednesday. Stephens restated an “overweight” rating and set a $30.00 price target on shares of 10x Genomics in a research note on Thursday, October 10th. Bank of America cut their target price 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. JPMorgan Chase & Co. decreased their target price on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Jefferies Financial Group raised 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, 10x Genomics presently has a consensus rating of “Moderate Buy” and an average price target of $29.19.

10x Genomics Trading Up 1.9 %

TXG opened at $16.33 on Friday. 10x Genomics, Inc. has a 12-month low of $14.02 and a 12-month high of $57.90. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -10.67 and a beta of 1.85. The stock’s 50-day moving average price is $19.85 and its 200 day moving average price is $21.33.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.04. The business had revenue of $151.65 million during the quarter, compared to analysts’ expectations of $158.84 million. 10x Genomics had a negative return on equity of 25.07% and a negative net margin of 28.93%. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.51) EPS. On average, research analysts forecast that 10x Genomics, Inc. will post -1.35 earnings per share for the current 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.