10x Genomics $TXG Shares Sold by Simplify Asset Management Inc.

by · The Markets Daily

Simplify Asset Management Inc. cut its stake in shares of 10x Genomics (NASDAQ:TXG – Free Report) by 27.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 354,703 shares of the company’s stock after selling 131,274 shares during the quarter. 10x Genomics comprises approximately 0.1% of Simplify Asset Management Inc.’s investment portfolio, making the stock its 26th biggest holding. Simplify Asset Management Inc.’s holdings in 10x Genomics were worth $7,530,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. ARK Investment Management LLC boosted its holdings in shares of 10x Genomics by 6.6% in the 4th quarter. ARK Investment Management LLC now owns 12,667,369 shares of the company’s stock valued at $206,605,000 after acquiring an additional 779,973 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of 10x Genomics by 2.1% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,492,189 shares of the company’s stock worth $89,578,000 after purchasing an additional 110,970 shares during the last quarter. Amova Asset Management Americas Inc. raised its holdings in shares of 10x Genomics by 2.0% during the fourth quarter. Amova Asset Management Americas Inc. now owns 5,486,153 shares of the company’s stock worth $89,424,000 after purchasing an additional 109,270 shares during the last quarter. Millennium Management LLC lifted its position in 10x Genomics by 84.7% during the third quarter. Millennium Management LLC now owns 5,437,969 shares of the company’s stock valued at $63,570,000 after purchasing an additional 2,494,142 shares during the period. Finally, Wellington Management Group LLP lifted its position in 10x Genomics by 126.6% during the third quarter. Wellington Management Group LLP now owns 4,285,628 shares of the company’s stock valued at $50,099,000 after purchasing an additional 2,394,355 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at 10x Genomics

In related news, CFO Adam Taich sold 15,098 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $24.44, for a total transaction of $368,995.12. Following the completion of the transaction, the chief financial officer directly owned 379,898 shares of the company’s stock, valued at $9,284,707.12. The trade was a 3.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Shehnaaz Suliman sold 5,723 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $32.63, for a total transaction of $186,741.49. Following the transaction, the director owned 31,722 shares of the company’s stock, valued at $1,035,088.86. This trade represents a 15.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 96,309 shares of company stock worth $2,704,157. 8.84% of the stock is currently owned by corporate insiders.

10x Genomics Price Performance

TXG stock opened at $39.01 on Friday. The business has a 50 day simple moving average of $28.07 and a 200-day simple moving average of $22.83. The firm has a market capitalization of $4.95 billion, a PE ratio of -229.47 and a beta of 2.05. 10x Genomics has a 1 year low of $11.16 and a 1 year high of $40.08.

10x Genomics (NASDAQ:TXG – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.19. 10x Genomics had a negative net margin of 3.55% and a negative return on equity of 2.86%. The firm had revenue of $150.84 million for the quarter, compared to analyst estimates of $146.41 million. During the same quarter in the previous year, the company earned ($0.28) EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts expect that 10x Genomics will post -0.79 EPS for the current year.

Analyst Upgrades and Downgrades

TXG has been the topic of several analyst reports. Zacks Research lowered 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. JPMorgan Chase & Co. boosted their price target on 10x Genomics from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. William Blair upgraded 10x Genomics from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 31st. Weiss Ratings restated a “sell (d-)” rating on shares of 10x Genomics in a research report on Wednesday, June 24th. Finally, Bank of America raised their price objective on shares of 10x Genomics from $21.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, April 20th. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $25.92.

View Our Latest Analysis on TXG

10x Genomics Profile

(Free Report)

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.

See Also

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