The Manufacturers Life Insurance Company Sells 15,092 Shares of 10x Genomics, Inc. (NASDAQ:TXG)

The Manufacturers Life Insurance Company lessened its position in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 9.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 141,823 shares of the company’s stock after selling 15,092 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.12% of 10x Genomics worth $2,758,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in 10x Genomics by 113.5% during the first 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 period. First Horizon Advisors Inc. grew its position in shares of 10x Genomics by 74.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock worth $37,000 after purchasing an additional 808 shares in the last quarter. Covestor Ltd increased its holdings in shares of 10x Genomics by 501.7% during the first quarter. Covestor Ltd now owns 1,047 shares of the company’s stock worth $39,000 after purchasing an additional 873 shares during the period. Headlands Technologies LLC bought a new position in 10x Genomics during the 1st quarter worth $71,000. Finally, Federated Hermes Inc. acquired a new position in 10x Genomics in the second quarter valued at about $136,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

10x Genomics Price Performance

TXG opened at $20.11 on Wednesday. 10x Genomics, Inc. has a fifty-two week low of $15.28 and a fifty-two week high of $57.90. The company’s 50 day moving average price is $21.57 and its two-hundred day moving average price is $23.80. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -9.02 and a beta of 1.85.

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

Insider Activity at 10x Genomics

In related news, CEO Serge Saxonov sold 6,749 shares of 10x Genomics stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $152,054.97. Following the completion of the transaction, the chief executive officer now owns 882,467 shares of the company’s stock, valued at $19,881,981.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Justin J. Mcanear sold 2,961 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $66,711.33. Following the transaction, the chief financial officer now owns 143,242 shares of the company’s stock, valued at $3,227,242.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Serge Saxonov sold 6,749 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $152,054.97. Following the completion of the sale, the chief executive officer now directly owns 882,467 shares of the company’s stock, valued at $19,881,981.51. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,061 shares of company stock worth $316,794 over the last ninety days. Insiders own 10.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TXG. The Goldman Sachs Group cut their price target on shares of 10x Genomics from $26.00 to $16.00 and set a “sell” rating for the company in a report on Tuesday, July 9th. Bank of America reduced their target price on 10x Genomics from $36.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, July 18th. Jefferies Financial Group raised 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Monday, July 22nd. Wolfe Research reaffirmed a “peer perform” rating on shares of 10x Genomics in a research note on Thursday, June 27th. Finally, Barclays decreased their target price on 10x Genomics from $36.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, June 28th. One investment 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.60.

10x Genomics 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.