Van ECK Associates Corp Sells 738 Shares of 10x Genomics, Inc. (NASDAQ:TXG)

Van ECK Associates Corp trimmed its position in 10x Genomics, Inc. (NASDAQ:TXG) by 34.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,384 shares of the company’s stock after selling 738 shares during the quarter. Van ECK Associates Corp’s holdings in 10x Genomics were worth $31,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of 10x Genomics by 113.5% in 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 last quarter. GAMMA Investing LLC lifted its stake in 10x Genomics by 451.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock valued at $35,000 after purchasing an additional 1,265 shares during the last quarter. First Horizon Advisors Inc. boosted its position in 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 in the last quarter. Covestor Ltd grew its stake 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 buying an additional 873 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of 10x Genomics by 136.5% during the third quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock worth $40,000 after buying an additional 1,025 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

10x Genomics Price Performance

Shares of 10x Genomics stock opened at $14.12 on Friday. The stock’s 50-day moving average is $18.77 and its 200 day moving average is $20.61. 10x Genomics, Inc. has a one year low of $14.02 and a one year high of $57.90. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -9.75 and a beta of 1.87.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.04. The firm had revenue of $151.65 million for the quarter, compared to analysts’ expectations of $158.84 million. 10x Genomics had a negative return on equity of 25.07% and a negative net margin of 28.93%. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.51) EPS. On average, sell-side analysts expect that 10x Genomics, Inc. will post -1.4 EPS for the current fiscal year.

Insiders Place Their Bets

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 value of $152,054.97. Following the transaction, the chief executive officer now directly owns 882,467 shares in the company, valued at $19,881,981.51. This trade represents a 0.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Justin J. Mcanear sold 2,961 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 $66,711.33. Following the completion of the sale, the chief financial officer now directly owns 143,242 shares of the company’s stock, valued at approximately $3,227,242.26. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,061 shares of company stock worth $316,794. 10.03% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TXG has been the topic of several recent research reports. 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 report on Thursday, July 18th. The Goldman Sachs Group dropped their target price on 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a research report on Wednesday, October 30th. Canaccord Genuity Group reduced their price target on 10x Genomics from $32.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Leerink Partners began coverage on shares of 10x Genomics in a report on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price objective for the company. Finally, UBS Group reduced their target price on shares of 10x Genomics from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.19.

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.