Federated Hermes Inc. Takes $136,000 Position in 10x Genomics, Inc. (NASDAQ:TXG)

Federated Hermes Inc. purchased a new position in shares of 10x Genomics, Inc. (NASDAQ:TXG) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 7,000 shares of the company’s stock, valued at approximately $136,000.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in 10x Genomics in the fourth quarter valued at $36,262,000. US Bancorp DE grew its stake in 10x Genomics by 19.4% in the fourth quarter. US Bancorp DE now owns 15,212 shares of the company’s stock valued at $851,000 after acquiring an additional 2,469 shares during the period. TD Asset Management Inc increased its holdings in shares of 10x Genomics by 15.4% during the fourth quarter. TD Asset Management Inc now owns 275,164 shares of the company’s stock valued at $15,398,000 after acquiring an additional 36,800 shares in the last quarter. Treasurer of the State of North Carolina raised its position in shares of 10x Genomics by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 40,717 shares of the company’s stock worth $2,279,000 after purchasing an additional 400 shares during the period. Finally, Capstone Investment Advisors LLC bought a new stake in 10x Genomics during the 4th quarter valued at $309,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TXG. Deutsche Bank Aktiengesellschaft cut 10x Genomics from a “buy” rating to a “hold” rating and cut their price objective for the stock from $55.00 to $25.00 in a research report on Wednesday, July 10th. Stephens reissued an “overweight” rating and set a $30.00 target price on shares of 10x Genomics in a research report on Wednesday, September 4th. Guggenheim reissued a “neutral” rating on shares of 10x Genomics in a report on Tuesday, June 25th. JPMorgan Chase & Co. lowered 10x Genomics from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $40.00 to $20.00 in a research note on Thursday, July 18th. Finally, Jefferies Financial Group upgraded 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.60.

10x Genomics Price Performance

Shares of TXG stock opened at $21.25 on Thursday. 10x Genomics, Inc. has a 1-year low of $15.28 and a 1-year high of $57.90. The stock has a market capitalization of $2.53 billion, a PE ratio of -9.53 and a beta of 1.85. The business has a 50-day moving average of $21.20 and a 200 day moving average of $24.83.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.15. 10x Genomics had a negative net margin of 37.90% and a negative return on equity of 28.23%. The business had revenue of $153.10 million for the quarter, compared to the consensus estimate of $150.90 million. Analysts anticipate that 10x Genomics, Inc. will post -1.32 EPS for the current year.

Insider Buying and Selling at 10x Genomics

In other news, insider Benjamin J. Hindson sold 4,351 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $98,028.03. Following the sale, the insider now directly owns 345,704 shares of the company’s stock, valued at $7,788,711.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Serge Saxonov sold 6,749 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $152,054.97. Following the sale, the chief executive officer now directly owns 882,467 shares of the company’s stock, valued at $19,881,981.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Benjamin J. Hindson sold 4,351 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $98,028.03. Following the completion of the transaction, the insider now directly owns 345,704 shares of the company’s stock, valued at approximately $7,788,711.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,061 shares of company stock valued at $316,794. Corporate insiders own 10.03% of the company’s stock.

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.