Diversified Trust Co Grows Stock Holdings in 10x Genomics (NASDAQ:TXG)

Diversified Trust Co grew its position in 10x Genomics (NASDAQ:TXG) by 60.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,236 shares of the company’s stock after buying an additional 21,634 shares during the period. Diversified Trust Co’s holdings in 10x Genomics were worth $500,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC boosted its stake in 10x Genomics by 0.6% in the fourth quarter. FMR LLC now owns 13,454,434 shares of the company’s stock valued at $193,206,000 after acquiring an additional 86,455 shares in the last quarter. RA Capital Management L.P. purchased a new position in shares of 10x Genomics in the 4th quarter valued at approximately $47,092,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 10x Genomics by 10.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,116,573 shares of the company’s stock worth $30,394,000 after purchasing an additional 193,588 shares in the last quarter. Voloridge Investment Management LLC grew its position in 10x Genomics by 12.1% during the 4th quarter. Voloridge Investment Management LLC now owns 1,585,965 shares of the company’s stock worth $22,774,000 after purchasing an additional 171,161 shares during the last quarter. Finally, Two Sigma Investments LP increased its stake in 10x Genomics by 291.2% during the 4th quarter. Two Sigma Investments LP now owns 1,319,487 shares of the company’s stock valued at $18,948,000 after purchasing an additional 982,203 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TXG shares. Wall Street Zen lowered shares of 10x Genomics from a “buy” rating to a “hold” rating in a report on Saturday. The Goldman Sachs Group reduced their price target on shares of 10x Genomics from $7.50 to $6.50 and set a “sell” rating for the company in a research report on Monday, May 12th. UBS Group dropped their price objective on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Bank of America raised their target price on shares of 10x Genomics from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday, June 26th. Finally, Citigroup lowered their price target on shares of 10x Genomics from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $14.96.

Insiders Place Their Bets

In related news, CFO Adam Taich sold 4,044 shares of the company’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total transaction of $33,565.20. Following the completion of the transaction, the chief financial officer owned 331,588 shares in the company, valued at $2,752,180.40. This represents a 1.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benjamin J. Hindson sold 7,485 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total transaction of $62,125.50. Following the completion of the transaction, the insider directly owned 448,374 shares in the company, valued at $3,721,504.20. This represents a 1.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,872 shares of company stock worth $173,238. Company insiders own 10.03% of the company’s stock.

10x Genomics Stock Down 1.3%

Shares of 10x Genomics stock opened at $11.58 on Tuesday. The firm has a market cap of $1.43 billion, a PE ratio of -8.91 and a beta of 1.99. 10x Genomics has a twelve month low of $6.78 and a twelve month high of $24.76. The business has a 50-day moving average price of $9.45 and a 200 day moving average price of $11.15.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.09. 10x Genomics had a negative return on equity of 23.22% and a negative net margin of 25.14%. The business had revenue of $154.88 million during the quarter, compared to analysts’ expectations of $131.91 million. During the same period in the previous year, the business earned ($0.50) earnings per share. The business’s revenue was down 2.3% compared to the same quarter last year. On average, sell-side analysts expect that 10x Genomics will post -1.43 EPS for the current year.

10x Genomics Company 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.