Cresset Asset Management LLC Buys 43,516 Shares of 10x Genomics $TXG

Cresset Asset Management LLC raised its stake in shares of 10x Genomics (NASDAQ:TXG) by 129.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,090 shares of the company’s stock after purchasing an additional 43,516 shares during the quarter. Cresset Asset Management LLC owned approximately 0.06% of 10x Genomics worth $901,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in shares of 10x Genomics by 806.4% during the 1st quarter. Royal Bank of Canada now owns 182,836 shares of the company’s stock valued at $1,597,000 after purchasing an additional 162,665 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of 10x Genomics by 163.5% during the first quarter. Goldman Sachs Group Inc. now owns 645,366 shares of the company’s stock valued at $5,634,000 after buying an additional 400,430 shares during the period. Focus Partners Wealth bought a new position in 10x Genomics in the first quarter worth about $92,000. Teacher Retirement System of Texas lifted its holdings in 10x Genomics by 6.1% in the second quarter. Teacher Retirement System of Texas now owns 14,931 shares of the company’s stock worth $173,000 after buying an additional 858 shares during the period. Finally, Bank of Montreal Can lifted its holdings in 10x Genomics by 4,787.2% in the second quarter. Bank of Montreal Can now owns 588,080 shares of the company’s stock worth $6,810,000 after buying an additional 576,047 shares during the period. 84.68% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Adam Taich sold 8,968 shares of the stock in a transaction 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 sale, the chief financial officer directly owned 288,417 shares of the company’s stock, valued at $5,358,787.86. This trade represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Serge Saxonov sold 9,632 shares of 10x Genomics stock in a transaction dated Monday, February 23rd. The stock was 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 owned 1,061,924 shares of the company’s stock, valued at $19,730,547.92. The trade was a 0.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,426 shares of company stock valued at $490,995 over the last ninety days. 10.03% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TXG has been the topic of several research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of 10x Genomics in a report on Monday, December 22nd. Morgan Stanley restated an “equal weight” rating and issued a $20.00 target price (up from $17.00) on shares of 10x Genomics in a research note on Monday, December 1st. TD Cowen lifted their price target on 10x Genomics from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Friday, February 13th. UBS Group upped their price target on 10x Genomics from $14.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Finally, Piper Sandler increased their price objective on 10x Genomics from $15.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $18.46.

10x Genomics Stock Down 2.2%

Shares of NASDAQ TXG opened at $20.46 on Wednesday. The firm has a market cap of $2.61 billion, a P/E ratio of -58.46 and a beta of 2.20. 10x Genomics has a twelve month low of $6.78 and a twelve month high of $23.56. The company has a 50 day moving average of $20.06 and a 200 day moving average of $16.50.

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

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.