Venturi Wealth Management LLC Boosts Stock Holdings in 10x Genomics, Inc. (NASDAQ:TXG)

Venturi Wealth Management LLC boosted its stake in 10x Genomics, Inc. (NASDAQ:TXG) by 1,108.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,442 shares of the company’s stock after purchasing an additional 2,240 shares during the quarter. Venturi Wealth Management LLC’s holdings in 10x Genomics were worth $55,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. State of New Jersey Common Pension Fund D raised its holdings in shares of 10x Genomics by 3.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 86,999 shares of the company’s stock worth $1,964,000 after acquiring an additional 2,881 shares in the last quarter. Axxcess Wealth Management LLC increased its position in 10x Genomics by 38.5% in the third quarter. Axxcess Wealth Management LLC now owns 15,318 shares of the company’s stock worth $346,000 after purchasing an additional 4,258 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in 10x Genomics during the third quarter valued at $35,000. ARK Investment Management LLC lifted its position in 10x Genomics by 15.4% during the third quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company’s stock valued at $242,743,000 after purchasing an additional 1,436,582 shares during the last quarter. Finally, Interchange Capital Partners LLC purchased a new position in shares of 10x Genomics in the 3rd quarter worth $285,000. Institutional investors own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Jefferies Financial Group upgraded shares of 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Monday, July 22nd. JPMorgan Chase & Co. lowered their price objective on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Stephens reissued an “overweight” rating and set a $30.00 target price on shares of 10x Genomics in a research report on Thursday, October 10th. Barclays lowered their price target on 10x Genomics from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Finally, Morgan Stanley cut their price objective on shares of 10x Genomics from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, 10x Genomics presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.19.

10x Genomics Price Performance

Shares of TXG stock opened at $13.34 on Friday. The company has a market capitalization of $1.61 billion, a P/E ratio of -8.72 and a beta of 1.87. The company’s 50-day simple moving average is $18.42 and its two-hundred day simple moving average is $20.46. 10x Genomics, Inc. has a one year low of $13.30 and a one year high of $57.90.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.04. The company had revenue of $151.65 million for 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%. 10x Genomics’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.51) earnings per share. On average, research analysts expect that 10x Genomics, Inc. will post -1.4 EPS for the current fiscal year.

Insider Activity

In related news, 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 transaction, the insider now owns 345,704 shares of the company’s stock, valued at $7,788,711.12. The trade was a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Serge Saxonov sold 6,749 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $152,054.97. Following the sale, the chief executive officer now directly owns 882,467 shares in the company, valued at $19,881,981.51. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,061 shares of company stock worth $316,794. Company insiders own 10.03% of the company’s stock.

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.