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

SVB Wealth LLC lowered its stake in 10x Genomics, Inc. (NASDAQ:TXG) by 63.6% during the second quarter, Holdings Channel.com reports. The institutional investor owned 525,044 shares of the company’s stock after selling 915,516 shares during the period. SVB Wealth LLC’s holdings in 10x Genomics were worth $10,212,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its position 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 valued at $26,000 after acquiring an additional 371 shares in the last quarter. First Horizon Advisors Inc. raised its stake in 10x Genomics by 74.1% in 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 lifted its holdings 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 position in 10x Genomics in the first quarter valued at $71,000. Finally, Van ECK Associates Corp boosted its stake in 10x Genomics by 23.4% in the 4th quarter. Van ECK Associates Corp now owns 1,908 shares of the company’s stock worth $107,000 after buying an additional 362 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Buying and Selling at 10x Genomics

In other news, CFO Justin J. Mcanear sold 2,961 shares of 10x Genomics 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 $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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related 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 transaction, the insider now owns 345,704 shares in the company, valued at approximately $7,788,711.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Justin J. Mcanear sold 2,961 shares of the business’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 transaction, the chief financial officer now owns 143,242 shares of the company’s stock, valued at approximately $3,227,242.26. The disclosure for this sale can be found here. Insiders sold a total of 14,061 shares of company stock worth $316,794 in the last 90 days. 10.03% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TXG shares. The Goldman Sachs Group decreased their price target on 10x Genomics from $26.00 to $16.00 and set a “sell” rating on the stock in a research note on Tuesday, July 9th. Leerink Partners assumed coverage on 10x Genomics in a report on Tuesday. They issued an “outperform” rating and a $35.00 price objective on the stock. Deutsche Bank Aktiengesellschaft downgraded 10x Genomics from a “buy” rating to a “hold” rating and cut their price objective for the stock from $55.00 to $25.00 in a report on Wednesday, July 10th. JPMorgan Chase & Co. downgraded 10x Genomics from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $40.00 to $20.00 in a report on Thursday, July 18th. Finally, Canaccord Genuity Group cut their price objective on 10x Genomics from $50.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, 10x Genomics has an average rating of “Moderate Buy” and an average target price of $31.60.

10x Genomics Trading Down 6.9 %

NASDAQ TXG traded down $1.60 during mid-day trading on Friday, reaching $21.54. 1,862,613 shares of the company’s stock traded hands, compared to its average volume of 1,646,324. 10x Genomics, Inc. has a 1-year low of $15.28 and a 1-year high of $57.90. The company has a fifty day simple moving average of $20.19 and a 200-day simple moving average of $27.01. The company has a market cap 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 data on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $153.10 million during the quarter, compared to analyst estimates of $150.90 million. Equities research analysts forecast that 10x Genomics, Inc. will post -1.35 earnings per share for the current fiscal year.

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.