Odyssean LLC Sells 10,941 Shares of 10x Genomics $TXG

Odyssean LLC lessened its holdings in shares of 10x Genomics (NASDAQ:TXG) by 22.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,407 shares of the company’s stock after selling 10,941 shares during the quarter. Odyssean LLC’s holdings in 10x Genomics were worth $1,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of TXG. AQR Capital Management LLC lifted its position in shares of 10x Genomics by 241.3% during the 2nd quarter. AQR Capital Management LLC now owns 4,137,801 shares of the company’s stock valued at $47,916,000 after buying an additional 2,925,372 shares in the last quarter. Millennium Management LLC grew its stake in shares of 10x Genomics by 84.7% during the 3rd quarter. Millennium Management LLC now owns 5,437,969 shares of the company’s stock valued at $63,570,000 after acquiring an additional 2,494,142 shares during the period. Wellington Management Group LLP increased its holdings in 10x Genomics by 126.6% in the 3rd 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 in the last quarter. Quantinno Capital Management LP increased its holdings in 10x Genomics by 207.2% in the 2nd quarter. Quantinno Capital Management LP now owns 2,233,526 shares of the company’s stock worth $25,864,000 after acquiring an additional 1,506,530 shares in the last quarter. Finally, Casdin Capital LLC bought a new stake in 10x Genomics during the 4th quarter worth approximately $22,834,000. Institutional investors own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of 10x Genomics in a research report on Wednesday, June 24th. TD Cowen reissued a “hold” rating on shares of 10x Genomics in a research note on Wednesday, July 15th. Canaccord Genuity Group raised their price objective on shares of 10x Genomics from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Leerink Partners lifted their target price on shares of 10x Genomics from $23.00 to $40.00 and gave the company a “market perform” rating in a research note on Friday, July 17th. Finally, Piper Sandler upped their target price on shares of 10x Genomics from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, 10x Genomics currently has a consensus rating of “Hold” and a consensus price target of $38.31.

Insider Activity

In related news, Director John R. Stuelpnagel sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $57.75, for a total value of $1,155,000.00. Following the completion of the sale, the director directly owned 348,436 shares in the company, valued at $20,122,179. This trade represents a 5.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Shehnaaz Suliman sold 5,723 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $32.63, for a total transaction of $186,741.49. Following the completion of the sale, the director owned 31,722 shares of the company’s stock, valued at $1,035,088.86. This trade represents a 15.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 55,723 shares of company stock valued at $2,374,941 in the last ninety days. Insiders own 8.84% of the company’s stock.

10x Genomics Price Performance

Shares of TXG opened at $64.72 on Wednesday. The stock has a market capitalization of $8.43 billion, a price-to-earnings ratio of -109.69 and a beta of 2.03. 10x Genomics has a 1 year low of $11.16 and a 1 year high of $66.94. The business’s 50 day simple moving average is $46.38 and its 200-day simple moving average is $30.97.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.10. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.33%. The firm had revenue of $151.04 million during the quarter, compared to analyst estimates of $146.67 million. During the same period last year, the firm posted $0.28 earnings per share. 10x Genomics’s revenue for the quarter was down 12.7% compared to the same quarter last year. On average, sell-side analysts expect that 10x Genomics will post -0.75 earnings per share for the current year.

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.