485,977 Shares in 10x Genomics $TXG Bought by Simplify Asset Management Inc.

Simplify Asset Management Inc. purchased a new position in 10x Genomics (NASDAQ:TXG) in the fourth quarter, Holdings Channel.com reports. The fund purchased 485,977 shares of the company’s stock, valued at approximately $7,926,000. 10x Genomics comprises 0.1% of Simplify Asset Management Inc.’s portfolio, making the stock its 27th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in 10x Genomics by 6.7% in the third quarter. Vanguard Group Inc. now owns 13,274,332 shares of the company’s stock worth $155,177,000 after acquiring an additional 834,272 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in 10x Genomics by 2.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,492,189 shares of the company’s stock worth $89,578,000 after acquiring an additional 110,970 shares during the period. Millennium Management LLC lifted its stake in 10x Genomics by 84.7% in the third quarter. Millennium Management LLC now owns 5,437,969 shares of the company’s stock worth $63,570,000 after acquiring an additional 2,494,142 shares during the period. Wellington Management Group LLP lifted its stake in 10x Genomics by 126.6% in the third quarter. Wellington Management Group LLP now owns 4,285,628 shares of the company’s stock worth $50,099,000 after acquiring an additional 2,394,355 shares during the period. Finally, AQR Capital Management LLC lifted its stake in 10x Genomics by 241.3% in the second quarter. AQR Capital Management LLC now owns 4,137,801 shares of the company’s stock worth $47,916,000 after acquiring an additional 2,925,372 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling

In other news, CEO Serge Saxonov sold 10,000 shares of the firm’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $19.13, for a total transaction of $191,300.00. Following the completion of the transaction, the chief executive officer directly owned 1,177,273 shares in the company, valued at $22,521,232.49. This trade represents a 0.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 20,000 shares of company stock worth $411,700 over the last ninety days. Company insiders own 8.84% of the company’s stock.

10x Genomics Stock Performance

Shares of 10x Genomics stock opened at $23.68 on Monday. The firm has a market capitalization of $3.01 billion, a P/E ratio of -139.29 and a beta of 2.05. The business has a fifty day simple moving average of $21.64 and a two-hundred day simple moving average of $19.65. 10x Genomics has a 12 month low of $8.06 and a 12 month high of $26.44.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.19. The business had revenue of $150.84 million during the quarter, compared to analyst estimates of $146.41 million. 10x Genomics had a negative return on equity of 2.86% and a negative net margin of 3.55%.The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.28) earnings per share. Analysts predict that 10x Genomics will post -0.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TXG. Canaccord Genuity Group raised their price target on 10x Genomics from $22.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. William Blair raised 10x Genomics from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 31st. Deutsche Bank Aktiengesellschaft set a $17.00 price objective on 10x Genomics and gave the company a “hold” rating in a research report on Friday, February 13th. Barclays raised their price objective on 10x Genomics from $22.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, April 14th. Finally, Zacks Research lowered 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, 10x Genomics has an average rating of “Hold” and an average price target of $23.17.

10x Genomics 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.