Susquehanna Fundamental Investments LLC Takes Position in 10x Genomics, Inc. (NASDAQ:TXG)

Susquehanna Fundamental Investments LLC bought a new stake in 10x Genomics, Inc. (NASDAQ:TXG) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 75,619 shares of the company’s stock, valued at approximately $2,838,000. Susquehanna Fundamental Investments LLC owned about 0.06% of 10x Genomics at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TXG. UMB Bank n.a. boosted its stake in 10x Genomics by 51.6% during the 4th quarter. UMB Bank n.a. now owns 782 shares of the company’s stock worth $44,000 after acquiring an additional 266 shares during the last quarter. Van ECK Associates Corp boosted its stake in 10x Genomics by 23.4% during the 4th quarter. Van ECK Associates Corp now owns 1,908 shares of the company’s stock worth $107,000 after acquiring an additional 362 shares during the last quarter. AIA Group Ltd boosted its stake in 10x Genomics by 0.9% during the 4th quarter. AIA Group Ltd now owns 41,369 shares of the company’s stock worth $2,315,000 after acquiring an additional 365 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in 10x Genomics by 113.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock worth $26,000 after acquiring an additional 371 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in 10x Genomics by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 40,717 shares of the company’s stock worth $2,279,000 after acquiring an additional 400 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

10x Genomics Price Performance

Shares of NASDAQ TXG traded down $0.06 during midday trading on Monday, reaching $17.43. The company’s stock had a trading volume of 557,120 shares, compared to its average volume of 1,600,618. 10x Genomics, Inc. has a fifty-two week low of $15.28 and a fifty-two week high of $63.57. The stock has a 50 day simple moving average of $21.71 and a 200-day simple moving average of $34.19.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Tuesday, April 30th. The company reported ($0.50) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.50). 10x Genomics had a negative net margin of 42.20% and a negative return on equity of 30.85%. The company had revenue of $141.01 million for the quarter, compared to the consensus estimate of $142.24 million. During the same period last year, the company earned ($0.44) earnings per share. The firm’s revenue was up 5.0% compared to the same quarter last year. Equities research analysts anticipate that 10x Genomics, Inc. will post -1.52 earnings per share for the current fiscal year.

Insider Activity at 10x Genomics

In related news, CEO Serge Saxonov sold 4,877 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total value of $118,511.10. Following the completion of the transaction, the chief executive officer now directly owns 889,641 shares of the company’s stock, valued at $21,618,276.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other 10x Genomics news, CEO Serge Saxonov sold 4,877 shares of 10x Genomics stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total transaction of $118,511.10. Following the completion of the transaction, the chief executive officer now directly owns 889,641 shares of the company’s stock, valued at $21,618,276.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Justin J. Mcanear sold 2,936 shares of 10x Genomics stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total transaction of $71,344.80. Following the transaction, the chief financial officer now directly owns 146,203 shares of the company’s stock, valued at $3,552,732.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,900 shares of company stock valued at $289,170. 10.03% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on TXG. UBS Group reduced their price objective on shares of 10x Genomics from $52.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Jefferies Financial Group began coverage on shares of 10x Genomics in a research note on Monday, June 3rd. They set a “hold” rating and a $24.00 price objective on the stock. TD Cowen downgraded shares of 10x Genomics from a “buy” rating to a “hold” rating and dropped their target price for the stock from $57.00 to $32.00 in a report on Wednesday, May 1st. Stifel Nicolaus dropped their target price on shares of 10x Genomics from $63.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, Guggenheim restated a “neutral” rating on shares of 10x Genomics in a report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, 10x Genomics has an average rating of “Hold” and a consensus price target of $41.92.

10x Genomics Company Profile

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in the America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium, chromium connect, and chromium controller instruments, microfluidic chips, slides, reagents, and other consumables products.