10x Genomics $TXG Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC cut its position in 10x Genomics (NASDAQ:TXG) by 14.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,887,396 shares of the company’s stock after selling 2,004,707 shares during the period. ARK Investment Management LLC owned 9.55% of 10x Genomics worth $138,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in TXG. Allworth Financial LP grew its holdings in shares of 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 stake in shares of 10x Genomics by 1,552.5% in the second quarter. True Wealth Design LLC now owns 3,586 shares of the company’s stock worth $42,000 after buying an additional 3,369 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new position in 10x Genomics during the third quarter worth about $56,000. EverSource Wealth Advisors LLC grew its stake in 10x Genomics by 203.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,490 shares of the company’s stock valued at $87,000 after acquiring an additional 5,025 shares in the last quarter. Finally, Focus Partners Wealth acquired a new stake in 10x Genomics in the 1st quarter valued at about $92,000. 84.68% of the stock is owned by institutional investors and hedge funds.

10x Genomics Trading Down 1.1%

NASDAQ:TXG opened at $22.37 on Thursday. The stock has a fifty day moving average price of $19.69 and a 200 day moving average price of $16.27. 10x Genomics has a 12-month low of $6.78 and a 12-month high of $23.56. The firm has a market cap of $2.86 billion, a PE ratio of -63.91 and a beta of 2.20.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Thursday, February 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating 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 company had revenue of $166.03 million for the quarter, compared to analyst estimates of $160.35 million. During the same quarter last year, the company earned ($0.40) EPS. 10x Genomics’s revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts forecast that 10x Genomics will post -1.43 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TXG. Morgan Stanley restated an “equal weight” rating and set a $20.00 target price (up from $17.00) on shares of 10x Genomics in a report on Monday, December 1st. Bank of America set a $21.00 price objective on 10x Genomics in a research note on Monday, January 12th. Piper Sandler upped their target price on 10x Genomics from $15.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Citigroup lowered 10x Genomics from a “buy” rating to a “cautious” rating in a report on Thursday, December 11th. Finally, Stifel Nicolaus upped their price objective on shares of 10x Genomics from $20.00 to $25.00 and gave the company a “buy” rating in a report on Monday. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, 10x Genomics currently has a consensus rating of “Hold” and a consensus target price of $18.46.

Insider Buying and Selling

In other 10x Genomics 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 transaction of $178,962.56. Following the completion of the transaction, the chief executive officer owned 1,061,924 shares in the company, valued at $19,730,547.92. The trade was a 0.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Benjamin J. Hindson sold 7,826 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $18.58, for a total transaction of $145,407.08. Following the completion of the sale, the insider directly owned 424,779 shares in the company, valued at approximately $7,892,393.82. This represents a 1.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 26,426 shares of company stock worth $490,995 over the last 90 days. 9.39% of the stock is owned by insiders.

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.