California Public Employees Retirement System Cuts Holdings in 10x Genomics, Inc. (NASDAQ:TXG)

California Public Employees Retirement System decreased its holdings in 10x Genomics, Inc. (NASDAQ:TXGGet Rating) by 7.7% in the second quarter, Holdings Channel reports. The firm owned 147,881 shares of the company’s stock after selling 12,419 shares during the quarter. California Public Employees Retirement System’s holdings in 10x Genomics were worth $6,692,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TXG. Sands Capital Management LLC increased its holdings in 10x Genomics by 92.4% in the 1st quarter. Sands Capital Management LLC now owns 3,201,394 shares of the company’s stock worth $243,530,000 after buying an additional 1,537,427 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of 10x Genomics by 14.2% during the 1st quarter. BlackRock Inc. now owns 9,156,992 shares of the company’s stock valued at $696,572,000 after acquiring an additional 1,138,358 shares during the last quarter. Baillie Gifford & Co. grew its stake in shares of 10x Genomics by 13.9% in the second quarter. Baillie Gifford & Co. now owns 8,378,971 shares of the company’s stock worth $379,148,000 after acquiring an additional 1,023,207 shares during the period. 12 West Capital Management LP raised its holdings in shares of 10x Genomics by 25.7% during the first quarter. 12 West Capital Management LP now owns 2,518,500 shares of the company’s stock valued at $191,582,000 after purchasing an additional 514,500 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in 10x Genomics by 242.7% during the first quarter. Goldman Sachs Group Inc. now owns 686,270 shares of the company’s stock valued at $52,204,000 after purchasing an additional 485,997 shares during the period. Hedge funds and other institutional investors own 74.10% of the company’s stock.

10x Genomics Stock Performance

Shares of TXG stock opened at $36.44 on Friday. The stock has a fifty day simple moving average of $30.63 and a two-hundred day simple moving average of $38.09. 10x Genomics, Inc. has a 52-week low of $23.81 and a 52-week high of $157.74. The firm has a market capitalization of $4.17 billion, a PE ratio of -24.62 and a beta of 1.58.

10x Genomics (NASDAQ:TXGGet Rating) last posted its earnings results on Wednesday, November 2nd. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.09. The company had revenue of $131.10 million during the quarter, compared to analysts’ expectations of $129.13 million. 10x Genomics had a negative net margin of 33.20% and a negative return on equity of 21.01%. 10x Genomics’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the company posted ($0.15) earnings per share. On average, sell-side analysts forecast that 10x Genomics, Inc. will post -1.61 EPS for the current fiscal year.

Insider Transactions at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 2,676 shares of the firm’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $34.07, for a total transaction of $91,171.32. Following the completion of the transaction, the chief executive officer now owns 974,926 shares in the company, valued at approximately $33,215,728.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other 10x Genomics news, CEO Serge Saxonov sold 2,676 shares of the stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $34.07, for a total transaction of $91,171.32. Following the completion of the transaction, the chief executive officer now owns 974,926 shares in the company, valued at $33,215,728.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Benjamin J. Hindson sold 2,361 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $34.07, for a total transaction of $80,439.27. Following the completion of the sale, the insider now owns 217,713 shares in the company, valued at $7,417,481.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,663 shares of company stock valued at $227,008. 11.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TXG. The Goldman Sachs Group decreased their target price on shares of 10x Genomics from $35.00 to $25.00 and set a “sell” rating for the company in a research note on Thursday, October 13th. Cowen increased their target price on 10x Genomics from $50.00 to $55.00 in a report on Tuesday, August 9th. JPMorgan Chase & Co. cut their price target on 10x Genomics from $65.00 to $55.00 in a research note on Thursday, November 3rd. Morgan Stanley lowered their price objective on shares of 10x Genomics from $70.00 to $64.00 and set an “overweight” rating on the stock in a research note on Friday, November 4th. Finally, Citigroup reduced their target price on shares of 10x Genomics from $100.00 to $65.00 in a report on Tuesday, August 9th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, 10x Genomics has a consensus rating of “Hold” and a consensus price target of $51.13.

10x Genomics Profile

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10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in North America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium and chromium connect instruments, microfluidic chips, slides, reagents, and other consumables products.

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Institutional Ownership by Quarter for 10x Genomics (NASDAQ:TXG)

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