Seven Eight Capital LP Has $699,000 Holdings in 10x Genomics, Inc. (NASDAQ:TXG)

Seven Eight Capital LP trimmed its position in 10x Genomics, Inc. (NASDAQ:TXG) by 64.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 35,924 shares of the company’s stock after selling 63,954 shares during the period. Seven Eight Capital LP’s holdings in 10x Genomics were worth $699,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of TXG. Allspring Global Investments Holdings LLC increased its holdings in 10x Genomics by 113.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock worth $26,000 after purchasing an additional 371 shares in the last quarter. First Horizon Advisors Inc. increased its stake in shares of 10x Genomics by 74.1% in the second quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock valued at $37,000 after buying an additional 808 shares during the period. Covestor Ltd increased its stake in shares of 10x Genomics by 501.7% in the first quarter. Covestor Ltd now owns 1,047 shares of the company’s stock valued at $39,000 after buying an additional 873 shares during the period. Headlands Technologies LLC bought a new position in 10x Genomics in the 1st quarter valued at approximately $71,000. Finally, Federated Hermes Inc. acquired a new stake in 10x Genomics during the 2nd quarter worth approximately $136,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TXG shares. Stifel Nicolaus dropped their price target on shares of 10x Genomics from $53.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, July 16th. Leerink Partnrs raised 10x Genomics to a “strong-buy” rating in a research report on Tuesday, September 3rd. Canaccord Genuity Group reduced their price target on 10x Genomics from $50.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, July 23rd. Guggenheim restated a “neutral” rating on shares of 10x Genomics in a research report on Tuesday, June 25th. Finally, Bank of America cut their price objective on 10x Genomics from $36.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.60.

Insider Buying and Selling at 10x Genomics

In other news, CFO Justin J. Mcanear sold 2,961 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $66,711.33. Following the transaction, the chief financial officer now directly owns 143,242 shares of the company’s stock, valued at $3,227,242.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other 10x Genomics news, insider Benjamin J. Hindson sold 4,351 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $98,028.03. Following the completion of the sale, the insider now directly owns 345,704 shares of the company’s stock, valued at approximately $7,788,711.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Justin J. Mcanear sold 2,961 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $66,711.33. Following the completion of the transaction, the chief financial officer now owns 143,242 shares in the company, valued at approximately $3,227,242.26. 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. Company insiders own 10.03% of the company’s stock.

10x Genomics Stock Down 3.4 %

Shares of NASDAQ TXG opened at $22.68 on Friday. The firm has a market cap of $2.70 billion, a PE ratio of -10.17 and a beta of 1.85. The company’s fifty day simple moving average is $21.01 and its 200 day simple moving average is $25.35. 10x Genomics, Inc. has a 12-month low of $15.28 and a 12-month high of $57.90.

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

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.