Citigroup Inc. Increases Holdings in 10x Genomics $TXG

Citigroup Inc. boosted its position in 10x Genomics (NASDAQ:TXG) by 55.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 261,323 shares of the company’s stock after purchasing an additional 93,104 shares during the period. Citigroup Inc. owned about 0.21% of 10x Genomics worth $3,055,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TXG. Allworth Financial LP boosted 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 purchasing an additional 1,364 shares in the last quarter. True Wealth Design LLC grew its stake in 10x Genomics by 1,552.5% in 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 last quarter. Abich Financial Wealth Management LLC purchased a new position in 10x Genomics during the 3rd quarter valued at about $56,000. EverSource Wealth Advisors LLC raised its position in 10x Genomics by 203.9% during the second quarter. EverSource Wealth Advisors LLC now owns 7,490 shares of the company’s stock worth $87,000 after acquiring an additional 5,025 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in 10x Genomics by 73.8% during the second quarter. PNC Financial Services Group Inc. now owns 8,951 shares of the company’s stock worth $104,000 after acquiring an additional 3,801 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Serge Saxonov sold 9,632 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $18.58, for a total value of $178,962.56. Following the completion of the sale, the chief executive officer directly owned 1,061,924 shares in the company, valued at approximately $19,730,547.92. The trade was a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Adam Taich sold 8,968 shares of the stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $18.58, for a total transaction of $166,625.44. Following the transaction, the chief financial officer directly owned 288,417 shares in the company, valued at approximately $5,358,787.86. This represents a 3.02% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 26,426 shares of company stock valued at $490,995. Insiders own 9.39% of the company’s stock.

10x Genomics Stock Down 3.3%

Shares of NASDAQ:TXG opened at $21.64 on Friday. The company has a market cap of $2.76 billion, a P/E ratio of -61.83 and a beta of 2.20. The business has a fifty day simple moving average of $19.79 and a 200-day simple moving average of $16.31. 10x Genomics has a 52 week low of $6.78 and a 52 week high of $23.56.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Thursday, February 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. 10x Genomics had a negative return on equity of 6.89% and a negative net margin of 6.77%.The firm had revenue of $166.03 million for the quarter, compared to analyst estimates of $160.35 million. During the same period last year, the company earned ($0.40) EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. Sell-side analysts expect that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TXG has been the subject of a number of recent research reports. Bank of America set a $21.00 price objective on shares of 10x Genomics in a research note on Monday, January 12th. Leerink Partners lowered their target price on 10x Genomics from $22.00 to $20.00 and set a “market perform” rating on the stock in a report on Tuesday, January 27th. Piper Sandler raised their price target on 10x Genomics from $15.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. TD Cowen boosted their price target on 10x Genomics from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Friday, February 13th. Finally, Deutsche Bank Aktiengesellschaft set a $17.00 price objective on 10x Genomics and gave the company a “hold” rating in a research note on Friday, February 13th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, 10x Genomics has a consensus rating of “Hold” and an average target price of $18.46.

10x Genomics Company 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.