NFSG Corp Invests $444,000 in 10x Genomics $TXG

NFSG Corp acquired a new position in shares of 10x Genomics (NASDAQ:TXG) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 20,900 shares of the company’s stock, valued at approximately $444,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Geneos Wealth Management Inc. bought a new position in shares of 10x Genomics during the 4th quarter worth approximately $38,000. Larson Financial Group LLC raised its holdings in shares of 10x Genomics by 164.4% in the fourth quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock valued at $39,000 after purchasing an additional 1,470 shares during the last quarter. Fifth Third Bancorp bought a new stake in shares of 10x Genomics in the first quarter worth $50,000. Van ECK Associates Corp boosted its holdings in 10x Genomics by 85.9% during the fourth quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock worth $60,000 after purchasing an additional 1,695 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in 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 purchasing an additional 5,025 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TXG. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 10x Genomics in a research report on Wednesday, June 24th. Citigroup boosted their price target on shares of 10x Genomics from $24.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Morgan Stanley increased their price objective on shares of 10x Genomics from $22.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Piper Sandler raised their price objective on 10x Genomics from $20.00 to $42.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. Finally, Zacks Research downgraded 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $30.42.

Insiders Place Their Bets

In other 10x Genomics news, insider Benjamin J. Hindson sold 11,595 shares of 10x Genomics stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $24.44, for a total transaction of $283,381.80. Following the completion of the transaction, the insider directly owned 502,000 shares of the company’s stock, valued at $12,268,880. The trade was a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Adam Taich sold 15,098 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $24.44, for a total transaction of $368,995.12. Following the completion of the transaction, the chief financial officer owned 379,898 shares in the company, valued at approximately $9,284,707.12. This represents a 3.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 91,309 shares of company stock worth $2,581,357. Company insiders own 8.84% of the company’s stock.

10x Genomics Stock Performance

Shares of NASDAQ:TXG opened at $45.75 on Thursday. 10x Genomics has a 52-week low of $11.16 and a 52-week high of $46.32. The company has a market capitalization of $5.81 billion, a P/E ratio of -269.12 and a beta of 2.05. The company has a 50-day simple moving average of $31.27 and a 200 day simple moving average of $24.31.

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

About 10x Genomics

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.