ExodusPoint Capital Management LP Sells 366,528 Shares of 10x Genomics, Inc. (NASDAQ:TXG)

ExodusPoint Capital Management LP decreased its position in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 66.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 188,430 shares of the company’s stock after selling 366,528 shares during the period. ExodusPoint Capital Management LP’s holdings in 10x Genomics were worth $2,706,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Atria Wealth Solutions Inc. grew its holdings in shares of 10x Genomics by 9.6% during the 4th quarter. Atria Wealth Solutions Inc. now owns 10,788 shares of the company’s stock valued at $155,000 after purchasing an additional 943 shares during the last quarter. Blue Trust Inc. grew its stake in shares of 10x Genomics by 73.1% during the fourth quarter. Blue Trust Inc. now owns 3,075 shares of the company’s stock valued at $44,000 after buying an additional 1,299 shares during the last quarter. Sound Income Strategies LLC lifted its stake in shares of 10x Genomics by 65.2% in the 4th quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock valued at $48,000 after acquiring an additional 1,330 shares during the last quarter. Signaturefd LLC lifted its stake in shares of 10x Genomics by 424.6% in the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock valued at $26,000 after acquiring an additional 1,452 shares during the last quarter. Finally, KBC Group NV boosted its holdings in 10x Genomics by 57.3% during the 4th quarter. KBC Group NV now owns 5,072 shares of the company’s stock valued at $73,000 after acquiring an additional 1,847 shares during the period. Institutional investors own 84.68% of the company’s stock.

Insider Activity at 10x Genomics

In other 10x Genomics news, insider Benjamin J. Hindson sold 4,573 shares of 10x Genomics stock in a transaction on Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $50,623.11. Following the completion of the sale, the insider now owns 335,324 shares of the company’s stock, valued at approximately $3,712,036.68. This trade represents a 1.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Serge Saxonov sold 5,092 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $56,368.44. Following the completion of the transaction, the chief executive officer now owns 879,482 shares of the company’s stock, valued at $9,735,865.74. This represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. 10.03% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TXG has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price objective on 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Citigroup cut their price target on shares of 10x Genomics from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a research note on Saturday, March 22nd. Morgan Stanley reduced their price target on 10x Genomics from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Finally, Canaccord Genuity Group lowered their price target on 10x Genomics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.21.

10x Genomics Stock Performance

Shares of TXG opened at $7.58 on Tuesday. 10x Genomics, Inc. has a fifty-two week low of $6.78 and a fifty-two week high of $37.74. The firm’s 50-day simple moving average is $11.26 and its two-hundred day simple moving average is $14.45. The stock has a market cap of $927.05 million, a PE ratio of -4.99 and a beta of 2.01.

10x Genomics (NASDAQ:TXG) last released its earnings results on Wednesday, February 12th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.08). 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. Equities research analysts predict that 10x Genomics, Inc. will post -1.43 EPS for the current year.

10x Genomics Company Profile

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in the America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium, chromium connect, and chromium controller instruments, microfluidic chips, slides, reagents, and other consumables products.