Venturi Wealth Management LLC Boosts Holdings in 10x Genomics, Inc. (NASDAQ:TXG)

Venturi Wealth Management LLC raised its position in 10x Genomics, Inc. (NASDAQ:TXG) by 1,108.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 2,442 shares of the company’s stock after acquiring an additional 2,240 shares during the quarter. Venturi Wealth Management LLC’s holdings in 10x Genomics were worth $55,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in shares of 10x Genomics by 113.5% during 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. Covestor Ltd grew its position in 10x Genomics by 501.7% during the 1st 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 grew its position in 10x Genomics by 451.8% during the 3rd 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 acquired a new position in 10x Genomics during the 3rd quarter valued at approximately $35,000. Finally, Blue Trust Inc. raised 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 buying an additional 1,025 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

10x Genomics Stock Performance

TXG opened at $13.34 on Friday. The company has a fifty day moving average of $18.42 and a two-hundred day moving average of $20.46. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of -8.72 and a beta of 1.87. 10x Genomics, Inc. has a fifty-two week low of $13.30 and a fifty-two week high of $57.90.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.04. The firm 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%. 10x Genomics’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) EPS. On average, equities research analysts forecast that 10x Genomics, Inc. will post -1.4 earnings per share for the current year.

Insider Activity

In other news, CEO Serge Saxonov sold 6,749 shares of 10x Genomics stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $152,054.97. Following the sale, the chief executive officer now owns 882,467 shares in the company, valued at $19,881,981.51. This trade represents 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 available through this link. Also, CFO Justin J. Mcanear sold 2,961 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction 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. This trade represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,061 shares of company stock worth $316,794 over the last three months. 10.03% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Stephens reissued an “overweight” rating and issued a $30.00 target price on shares of 10x Genomics in a research report on Thursday, October 10th. The Goldman Sachs Group cut their price objective on 10x Genomics from $16.00 to $14.00 and set a “sell” rating on the stock in a report on Wednesday, October 30th. Leerink Partners assumed coverage on 10x Genomics in a report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 target price for the company. Citigroup cut their price target on shares of 10x Genomics from $35.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Finally, Jefferies Financial Group upgraded shares of 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.19.

10x Genomics Company 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.