Edgestream Partners L.P. Sells 24,335 Shares of 10x Genomics, Inc. (NASDAQ:TXG)

Edgestream Partners L.P. decreased its stake in 10x Genomics, Inc. (NASDAQ:TXG) by 68.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,383 shares of the company’s stock after selling 24,335 shares during the period. Edgestream Partners L.P.’s holdings in 10x Genomics were worth $221,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its holdings in shares of 10x Genomics by 113.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock valued at $26,000 after purchasing an additional 371 shares during the last quarter. First Horizon Advisors Inc. grew its holdings 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 valued at $37,000 after purchasing an additional 808 shares during the last quarter. Covestor Ltd grew its holdings in shares of 10x Genomics by 501.7% during the 1st quarter. Covestor Ltd now owns 1,047 shares of the company’s stock valued at $39,000 after purchasing an additional 873 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of 10x Genomics during the 1st quarter valued at $71,000. Finally, Federated Hermes Inc. bought a new position in shares of 10x Genomics during the 2nd quarter valued at $136,000. Institutional investors own 84.68% of the company’s stock.

Insider Activity

In related news, CEO Serge Saxonov sold 6,749 shares of the firm’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 transaction, the chief executive officer now owns 882,467 shares of the company’s stock, valued at approximately $19,881,981.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Serge Saxonov sold 6,749 shares of the firm’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 sale, the chief executive officer now directly owns 882,467 shares in the company, valued at approximately $19,881,981.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Justin J. Mcanear sold 2,961 shares of the firm’s 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 completion of the sale, the chief financial officer now owns 143,242 shares in the company, valued at $3,227,242.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,061 shares of company stock valued at $316,794. 10.03% of the stock is currently owned by company insiders.

10x Genomics Stock Down 2.1 %

TXG opened at $22.21 on Tuesday. The firm has a 50 day moving average price of $21.01 and a 200-day moving average price of $25.11. 10x Genomics, Inc. has a twelve month low of $15.28 and a twelve month high of $57.90. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -9.96 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.15. The business had revenue of $153.10 million during 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, analysts expect that 10x Genomics, Inc. will post -1.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Bank of America reduced their target price on shares of 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 shares of 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Monday, July 22nd. Stephens reissued an “overweight” rating and issued a $30.00 price target on shares of 10x Genomics in a report on Wednesday, September 4th. Barclays cut their price target on shares of 10x Genomics from $36.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, June 28th. Finally, Leerink Partners started coverage on shares of 10x Genomics in a report on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $31.60.

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.