10x Genomics $TXG Shares Sold by Amova Asset Management Americas Inc.

Amova Asset Management Americas Inc. cut its holdings in shares of 10x Genomics (NASDAQ:TXG) by 7.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,104,178 shares of the company’s stock after selling 381,975 shares during the period. 10x Genomics comprises about 1.5% of Amova Asset Management Americas Inc.’s portfolio, making the stock its 18th biggest position. Amova Asset Management Americas Inc. owned about 4.00% of 10x Genomics worth $108,311,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Geneos Wealth Management Inc. acquired a new position in shares of 10x Genomics in the fourth quarter valued at approximately $38,000. Larson Financial Group LLC boosted its position in 10x Genomics by 164.4% in the 4th quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock valued at $39,000 after buying an additional 1,470 shares during the period. Fifth Third Bancorp acquired a new position in shares of 10x Genomics in the first quarter worth $50,000. Van ECK Associates Corp grew its stake in shares of 10x Genomics by 85.9% in the fourth quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock worth $60,000 after acquiring an additional 1,695 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of 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 period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

TXG has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of 10x Genomics in a report on Wednesday, June 24th. Canaccord Genuity Group increased their price target on 10x Genomics from $32.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Bank of America boosted their price objective on 10x Genomics from $21.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Leerink Partners upped their target price on shares of 10x Genomics from $23.00 to $40.00 and gave the stock a “market perform” rating in a research note on Friday. Finally, Morgan Stanley raised their target price on shares of 10x Genomics from $22.00 to $37.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, 10x Genomics has a consensus rating of “Hold” and an average price target of $32.08.

Insider Activity at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 30,000 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $34.44, for a total value of $1,033,200.00. Following the completion of the transaction, the chief executive officer owned 1,108,380 shares in the company, valued at $38,172,607.20. This represents a 2.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Shehnaaz Suliman sold 5,723 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $32.63, for a total value of $186,741.49. Following the transaction, the director directly owned 31,722 shares in the company, valued at approximately $1,035,088.86. The trade was a 15.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 91,309 shares of company stock valued at $2,581,357 in the last ninety days. 8.84% of the stock is currently owned by insiders.

10x Genomics Stock Down 1.2%

Shares of 10x Genomics stock opened at $43.22 on Tuesday. 10x Genomics has a 52 week low of $11.16 and a 52 week high of $46.32. The firm’s 50 day moving average is $32.61 and its two-hundred day moving average is $24.90. The firm has a market capitalization of $5.49 billion, a P/E ratio of -254.24 and a beta of 2.05.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.19. The business had revenue of $150.84 million during the quarter, compared to the consensus estimate of $146.41 million. 10x Genomics had a negative net margin of 3.55% and a negative return on equity of 2.86%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.28) EPS. As a group, research analysts expect that 10x Genomics will post -0.79 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.