Entropy Technologies LP Sells 12,974 Shares of 10x Genomics, Inc. (NASDAQ:TXG)

Entropy Technologies LP cut its holdings in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 57.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,751 shares of the company’s stock after selling 12,974 shares during the quarter. Entropy Technologies LP’s holdings in 10x Genomics were worth $220,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TXG. Allspring Global Investments Holdings LLC increased 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 purchasing an additional 371 shares during the last quarter. Covestor Ltd increased its holdings in shares of 10x Genomics by 501.7% in the first quarter. Covestor Ltd now owns 1,047 shares of the company’s stock worth $39,000 after purchasing an additional 873 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of 10x Genomics by 451.8% in the third quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock worth $35,000 after purchasing an additional 1,265 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of 10x Genomics in the third quarter worth about $35,000. Finally, Blue Trust Inc. increased its holdings in shares of 10x Genomics by 136.5% in the third quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock worth $40,000 after purchasing an additional 1,025 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TXG has been the topic of several research reports. UBS Group reduced their target price on 10x Genomics from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. The Goldman Sachs Group reduced their target price on 10x Genomics from $16.00 to $14.00 and set a “sell” rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. dropped their price target on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Barclays dropped their price target on 10x Genomics from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Finally, Leerink Partners assumed coverage on 10x Genomics in a research report on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.19.

Insider Activity at 10x Genomics

In related news, CEO Serge Saxonov sold 6,749 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 value of $152,054.97. Following the completion of the sale, the chief executive officer now owns 882,467 shares in the company, valued at approximately $19,881,981.51. The trade was a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Benjamin J. Hindson sold 4,351 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 $98,028.03. Following the completion of the sale, the insider now owns 345,704 shares of the company’s stock, valued at $7,788,711.12. The trade was a 1.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,061 shares of company stock worth $316,794. Company insiders own 10.03% of the company’s stock.

10x Genomics Price Performance

Shares of NASDAQ:TXG opened at $13.34 on Monday. 10x Genomics, Inc. has a 1 year low of $13.30 and a 1 year high of $57.90. The business has a 50 day simple moving average of $18.42 and a two-hundred day simple moving average of $20.35. The firm has a market capitalization of $1.61 billion, a PE ratio of -8.72 and a beta of 1.87.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.04. The business had revenue of $151.65 million during the quarter, compared to analyst estimates 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 quarter in the previous year, the business earned ($0.51) earnings per share. Equities research analysts expect that 10x Genomics, Inc. will post -1.4 EPS for the current fiscal year.

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.