Shell Asset Management Co. Trims Stock Holdings in 10x Genomics, Inc. (NASDAQ:TXG)

view original post

Shell Asset Management Co. reduced its position in 10x Genomics, Inc. (NASDAQ:TXG) by 70.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 944 shares of the company’s stock after selling 2,228 shares during the quarter. Shell Asset Management Co.’s holdings in 10x Genomics were worth $137,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. boosted its position in shares of 10x Genomics by 5.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 1,332 shares of the company’s stock valued at $261,000 after acquiring an additional 69 shares during the period. Commerce Bank boosted its position in shares of 10x Genomics by 4.8% in the second quarter. Commerce Bank now owns 1,742 shares of the company’s stock valued at $341,000 after acquiring an additional 80 shares during the period. Perigon Wealth Management LLC boosted its position in shares of 10x Genomics by 5.0% in the third quarter. Perigon Wealth Management LLC now owns 2,286 shares of the company’s stock valued at $333,000 after acquiring an additional 109 shares during the period. Berman Capital Advisors LLC boosted its position in shares of 10x Genomics by 85.9% in the third quarter. Berman Capital Advisors LLC now owns 251 shares of the company’s stock valued at $36,000 after acquiring an additional 116 shares during the period. Finally, First Horizon Advisors Inc. boosted its position in shares of 10x Genomics by 100.0% in the second quarter. First Horizon Advisors Inc. now owns 234 shares of the company’s stock valued at $45,000 after acquiring an additional 117 shares during the period. Institutional investors own 77.50% of the company’s stock.

Shares of TXG opened at $127.72 on Tuesday. The firm has a market cap of $14.27 billion, a price-to-earnings ratio of -30.19 and a beta of 1.38. 10x Genomics, Inc. has a fifty-two week low of $121.31 and a fifty-two week high of $208.99. The firm has a 50 day moving average price of $149.16 and a 200-day moving average price of $162.37.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Wednesday, November 3rd. The company reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.03. The firm had revenue of $125.30 million during the quarter, compared to analyst estimates of $124.07 million. 10x Genomics had a negative net margin of 99.17% and a negative return on equity of 6.30%. During the same period in the previous year, the business posted ($0.33) EPS. Equities research analysts forecast that 10x Genomics, Inc. will post -0.42 EPS for the current year.

TXG has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of 10x Genomics from a “buy” rating to a “hold” rating in a research report on Friday, October 22nd. Bank of America lowered shares of 10x Genomics from a “buy” rating to a “neutral” rating and set a $180.00 target price for the company. in a research report on Tuesday, September 14th. National Bank Financial assumed coverage on shares of 10x Genomics in a research report on Thursday, September 16th. They set a “sector perform” rating and a $24.00 target price for the company. Finally, Morgan Stanley dropped their target price on shares of 10x Genomics from $215.00 to $205.00 and set an “overweight” rating for the company in a research report on Thursday, November 4th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, 10x Genomics currently has an average rating of “Buy” and an average price target of $169.29.

In related news, insider Bradford Crutchfield sold 17,000 shares of 10x Genomics stock in a transaction on Monday, December 13th. The shares were sold at an average price of $139.36, for a total value of $2,369,120.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John R. Stuelpnagel sold 5,000 shares of 10x Genomics stock in a transaction on Monday, October 18th. The stock was sold at an average price of $150.67, for a total transaction of $753,350.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 258,402 shares of company stock worth $39,350,550. 11.57% of the stock is owned by insiders.

10x Genomics Company Profile

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.

Read More: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

Want to see what other hedge funds are holding TXG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 10x Genomics, Inc. (NASDAQ:TXG).

Want More Great Investing Ideas?