Inscription Capital LLC Acquires 59,305 Shares of 10x Genomics $TXG

Inscription Capital LLC grew its holdings in shares of 10x Genomics (NASDAQ:TXG) by 161.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 96,014 shares of the company’s stock after purchasing an additional 59,305 shares during the period. Inscription Capital LLC owned about 0.08% of 10x Genomics worth $1,122,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Allworth Financial LP grew its position in 10x Genomics by 150.4% during the second quarter. Allworth Financial LP now owns 2,271 shares of the company’s stock worth $26,000 after buying an additional 1,364 shares in the last quarter. True Wealth Design LLC lifted its position in shares of 10x Genomics by 1,552.5% during the 2nd quarter. True Wealth Design LLC now owns 3,586 shares of the company’s stock valued at $42,000 after acquiring an additional 3,369 shares during the period. Blue Trust Inc. grew its holdings in shares of 10x Genomics by 48.1% during the 2nd quarter. Blue Trust Inc. now owns 4,894 shares of the company’s stock worth $57,000 after purchasing an additional 1,590 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of 10x Genomics by 203.9% in the second quarter. EverSource Wealth Advisors LLC now owns 7,490 shares of the company’s stock worth $87,000 after purchasing an additional 5,025 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in 10x Genomics by 73.8% in the second quarter. PNC Financial Services Group Inc. now owns 8,951 shares of the company’s stock valued at $104,000 after purchasing an additional 3,801 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Serge Saxonov sold 13,261 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $19.00, for a total value of $251,959.00. Following the completion of the sale, the chief executive officer directly owned 1,021,556 shares in the company, valued at $19,409,564. This represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Adam Taich sold 11,888 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $19.00, for a total value of $225,872.00. Following the transaction, the chief financial officer directly owned 297,385 shares of the company’s stock, valued at approximately $5,650,315. This represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 33,432 shares of company stock valued at $635,208. 10.03% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TXG shares. Needham & Company LLC set a $21.00 price objective on shares of 10x Genomics in a research note on Monday, January 12th. Wall Street Zen lowered shares of 10x Genomics from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Zacks Research downgraded shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Piper Sandler upped their target price on 10x Genomics from $15.00 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Finally, Canaccord Genuity Group lifted their price target on 10x Genomics from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $16.30.

10x Genomics Price Performance

Shares of 10x Genomics stock opened at $22.05 on Wednesday. The company’s 50 day moving average price is $17.76 and its two-hundred day moving average price is $14.71. The firm has a market capitalization of $2.79 billion, a P/E ratio of -35.56 and a beta of 2.18. 10x Genomics has a fifty-two week low of $6.78 and a fifty-two week high of $22.20.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.05. 10x Genomics had a negative return on equity of 11.50% and a negative net margin of 11.89%.The company had revenue of $149.00 million during the quarter, compared to analysts’ expectations of $142.50 million. During the same period in the prior year, the company earned ($0.30) EPS. 10x Genomics’s revenue was down 1.7% compared to the same quarter last year. On average, analysts expect that 10x Genomics will post -1.43 earnings per share for the current year.

10x Genomics Profile

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.