10x Genomics, Inc. (NASDAQ:TXG) Shares Sold by SVB Wealth LLC

SVB Wealth LLC decreased its position in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 63.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 525,044 shares of the company’s stock after selling 915,516 shares during the period. SVB Wealth LLC owned about 0.44% of 10x Genomics worth $10,212,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TXG. Allspring Global Investments Holdings LLC lifted its stake in 10x Genomics by 113.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock worth $26,000 after acquiring an additional 371 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in 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 acquiring an additional 808 shares in the last quarter. Covestor Ltd raised its position in 10x Genomics by 501.7% in 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 in the last quarter. Headlands Technologies LLC acquired a new stake in 10x Genomics in the 1st quarter valued at about $71,000. Finally, Van ECK Associates Corp raised its position in 10x Genomics by 23.4% in the 4th quarter. Van ECK Associates Corp now owns 1,908 shares of the company’s stock valued at $107,000 after purchasing an additional 362 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Buying and Selling

In other news, CEO Serge Saxonov sold 6,749 shares of the company’s 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 transaction, the chief executive officer now directly owns 882,467 shares of the company’s stock, valued at approximately $19,881,981.51. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Serge Saxonov sold 6,749 shares of 10x Genomics stock in a transaction that occurred 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 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 legal filing with the SEC, which is available through this hyperlink. Also, insider Benjamin J. Hindson sold 4,351 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 value of $98,028.03. Following the completion of the sale, the insider now owns 345,704 shares in the company, valued at approximately $7,788,711.12. The disclosure for this sale can be found here. Insiders have sold 14,061 shares of company stock valued at $316,794 over the last quarter. Company insiders own 10.03% of the company’s stock.

10x Genomics Price Performance

Shares of NASDAQ:TXG traded down $1.60 during trading on Friday, reaching $21.54. The company had a trading volume of 1,862,613 shares, compared to its average volume of 1,646,324. 10x Genomics, Inc. has a fifty-two week low of $15.28 and a fifty-two week high of $57.90. The stock’s fifty day moving average price is $20.19 and its 200 day moving average price is $27.01. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of -9.66 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.15. The business had revenue of $153.10 million for the quarter, compared to analyst estimates of $150.90 million. 10x Genomics had a negative net margin of 37.90% and a negative return on equity of 28.23%. On average, equities analysts anticipate that 10x Genomics, Inc. will post -1.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TXG. 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. Stephens reaffirmed an “overweight” rating and issued a $30.00 price target on shares of 10x Genomics in a research report on Wednesday. UBS Group dropped their price objective on 10x Genomics from $30.00 to $25.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Bank of America dropped 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. Finally, Leerink Partnrs upgraded 10x Genomics to a “strong-buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, 10x Genomics currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.60.

About 10x Genomics

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.