Renaissance Technologies LLC Sells 541,800 Shares of 10x Genomics $TXG

Renaissance Technologies LLC lowered its position in 10x Genomics (NASDAQ:TXG) by 34.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 1,008,739 shares of the company’s stock after selling 541,800 shares during the period. Renaissance Technologies LLC’s holdings in 10x Genomics were worth $21,416,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC lifted its stake in 10x Genomics by 1.4% in the fourth quarter. Intech Investment Management LLC now owns 40,047 shares of the company’s stock valued at $653,000 after acquiring an additional 567 shares during the last quarter. Certuity LLC increased its stake in shares of 10x Genomics by 4.7% during the 4th quarter. Certuity LLC now owns 20,204 shares of the company’s stock worth $330,000 after purchasing an additional 904 shares during the last quarter. Stratos Wealth Partners LTD. raised its holdings in shares of 10x Genomics by 7.3% during the 4th quarter. Stratos Wealth Partners LTD. now owns 14,052 shares of the company’s stock valued at $229,000 after purchasing an additional 950 shares in the last quarter. Kera Capital Partners Inc. lifted its stake in shares of 10x Genomics by 2.3% in the 1st quarter. Kera Capital Partners Inc. now owns 48,937 shares of the company’s stock valued at $1,039,000 after purchasing an additional 1,108 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of 10x Genomics by 28.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,660 shares of the company’s stock valued at $92,000 after purchasing an additional 1,237 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

10x Genomics Price Performance

TXG stock opened at $46.32 on Thursday. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of -272.47 and a beta of 2.05. The company has a 50-day moving average of $36.12 and a two-hundred day moving average of $26.32. 10x Genomics has a 52-week low of $11.16 and a 52-week high of $49.50.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $150.84 million for the quarter, compared to analyst estimates of $146.41 million. During the same period in the previous year, the company posted ($0.28) earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities analysts expect that 10x Genomics will post -0.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Adam Taich sold 15,098 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was 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 directly owned 379,898 shares in the company, valued at $9,284,707.12. The trade was a 3.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Benjamin J. Hindson sold 11,595 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $24.44, for a total value of $283,381.80. Following the completion of the sale, the insider directly owned 502,000 shares of the company’s stock, valued at $12,268,880. This represents a 2.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 91,309 shares of company stock worth $2,581,357. Corporate insiders own 8.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. TD Cowen reiterated a “hold” rating on shares of 10x Genomics in a report on Wednesday, July 15th. Leerink Partners boosted their price target on 10x Genomics from $23.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, July 17th. Morgan Stanley upped their price target on 10x Genomics from $22.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Citigroup increased their price objective on 10x Genomics from $24.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Finally, Piper Sandler raised their price objective on 10x Genomics from $20.00 to $42.00 and gave the company a “neutral” rating in a research note on Wednesday, July 1st. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $32.08.

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.