SVB Wealth LLC Acquires Shares of 522,609 10x Genomics, Inc. (NASDAQ:TXG)

SVB Wealth LLC acquired a new stake in 10x Genomics, Inc. (NASDAQ:TXG) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 522,609 shares of the company’s stock, valued at approximately $7,505,000. SVB Wealth LLC owned 0.43% of 10x Genomics at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. KBC Group NV lifted its position in shares of 10x Genomics by 38.8% in the 3rd quarter. KBC Group NV now owns 3,225 shares of the company’s stock worth $73,000 after purchasing an additional 902 shares during the period. Atria Wealth Solutions Inc. lifted its position in shares of 10x Genomics by 9.6% in the 4th quarter. Atria Wealth Solutions Inc. now owns 10,788 shares of the company’s stock worth $155,000 after purchasing an additional 943 shares during the period. First Horizon Advisors Inc. lifted its position in shares of 10x Genomics by 53.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,910 shares of the company’s stock worth $66,000 after purchasing an additional 1,012 shares during the period. Blue Trust Inc. lifted its position in shares of 10x Genomics by 136.5% in the 3rd 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 period. Finally, Sound Income Strategies LLC lifted its position in shares of 10x Genomics by 65.2% in the 4th quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock worth $48,000 after purchasing an additional 1,330 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Benjamin J. Hindson sold 4,573 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $50,623.11. Following the sale, the insider now directly owns 335,324 shares of the company’s stock, valued at approximately $3,712,036.68. This represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Alan Mateo purchased 40,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were purchased at an average cost of $11.14 per share, for a total transaction of $445,600.00. Following the completion of the acquisition, the director now directly owns 61,691 shares of the company’s stock, valued at $687,237.74. This represents a 184.41 % increase in their position. The disclosure for this purchase can be found here. Insiders own 10.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TXG shares. Leerink Partners lowered shares of 10x Genomics from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $25.00 to $12.00 in a research note on Thursday, February 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of 10x Genomics in a research note on Wednesday, February 19th. Barclays reduced their price objective on shares of 10x Genomics from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. UBS Group reduced their price objective on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, Citigroup reduced their price objective on shares of 10x Genomics from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, 10x Genomics presently has an average rating of “Hold” and a consensus price target of $20.57.

10x Genomics Trading Down 0.8 %

Shares of 10x Genomics stock opened at $10.69 on Friday. 10x Genomics, Inc. has a 12-month low of $10.40 and a 12-month high of $48.42. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -7.03 and a beta of 1.85. The firm’s 50 day simple moving average is $14.00 and its two-hundred day simple moving average is $16.81.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.08). 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. On average, sell-side analysts predict that 10x Genomics, Inc. will post -1.43 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.