Versant Capital Management Inc Reduces Holdings in 10x Genomics $TXG

Versant Capital Management Inc trimmed its holdings in shares of 10x Genomics (NASDAQ:TXG) by 33.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,559 shares of the company’s stock after selling 14,912 shares during the quarter. Versant Capital Management Inc’s holdings in 10x Genomics were worth $1,133,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TXG. AQR Capital Management LLC boosted its stake 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 worth $47,916,000 after acquiring an additional 2,925,372 shares during the last quarter. Millennium Management LLC increased its stake in shares of 10x Genomics by 84.7% in the 3rd quarter. Millennium Management LLC now owns 5,437,969 shares of the company’s stock worth $63,570,000 after purchasing an additional 2,494,142 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of 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 purchasing an additional 2,394,355 shares in the last quarter. Quantinno Capital Management LP raised 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 purchasing an additional 1,506,530 shares during the period. Finally, Casdin Capital LLC bought a new position in 10x Genomics in the 4th quarter worth $22,834,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other 10x Genomics news, Director Shehnaaz Suliman sold 5,723 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $32.63, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Serge Saxonov sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $34.44, for a total value of $1,033,200.00. Following the transaction, the chief executive officer owned 1,108,380 shares of the company’s stock, valued at $38,172,607.20. This trade represents a 2.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 91,309 shares of company stock valued at $2,581,357. 8.84% of the stock is currently owned by company insiders.

10x Genomics Stock Down 0.6%

Shares of 10x Genomics stock opened at $47.01 on Tuesday. The firm has a market cap of $5.97 billion, a price-to-earnings ratio of -276.53 and a beta of 2.03. The business has a 50-day moving average price of $37.55 and a 200-day moving average price of $26.90. 10x Genomics has a twelve month low of $11.16 and a twelve month high of $50.34.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.19. The company 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 firm’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.28) earnings per share. On average, equities analysts expect that 10x Genomics will post -0.78 EPS for the current fiscal year.

Analysts Set New Price Targets

TXG has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on 10x Genomics from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Barclays boosted their price objective on 10x Genomics from $30.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Morgan Stanley lifted their price target on shares of 10x Genomics from $22.00 to $37.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Citigroup upped 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. Finally, Canaccord Genuity Group increased their price objective on shares of 10x Genomics from $32.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus 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.