Invenomic Capital Management LP Buys New Shares in 10x Genomics, Inc. (NASDAQ:TXG)

Invenomic Capital Management LP bought a new stake in 10x Genomics, Inc. (NASDAQ:TXG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 189,221 shares of the company's stock, valued at approximately $2,717,000. Invenomic Capital Management LP owned approximately 0.16% of 10x Genomics at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. FMR LLC boosted its holdings in shares of 10x Genomics by 0.6% during the 4th quarter. FMR LLC now owns 13,454,434 shares of the company's stock worth $193,206,000 after buying an additional 86,455 shares during the period. ARK Investment Management LLC boosted its holdings in shares of 10x Genomics by 11.1% during the 4th quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company's stock worth $171,517,000 after buying an additional 1,193,712 shares during the period. RA Capital Management L.P. bought a new stake in 10x Genomics during the 4th quarter valued at approximately $47,092,000. Assenagon Asset Management S.A. bought a new stake in 10x Genomics during the 4th quarter valued at approximately $26,308,000. Finally, D. E. Shaw & Co. Inc. bought a new stake in 10x Genomics during the 4th quarter valued at approximately $17,499,000. Institutional investors own 84.68% of the company's stock.

Insider Transactions at 10x Genomics

In other news, Director Alan Mateo purchased 40,000 shares of the company's stock in a transaction on Friday, February 21st. The shares were purchased at an average price of $11.14 per share, with a total value of $445,600.00. Following the purchase, the director now directly owns 61,691 shares of the company's stock, valued at $687,237.74. This trade represents a 184.41% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Benjamin J. Hindson sold 4,573 shares of 10x Genomics stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $11.07, for a total value of $50,623.11. Following the completion of the sale, the insider now directly owns 335,324 shares in the company, valued at $3,712,036.68. This represents a 1.35% decrease in their position. The disclosure for this sale can be found here. 9.39% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TXG shares. Leerink Partners downgraded 10x Genomics from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $25.00 to $12.00 in a research note on Thursday, February 13th. Leerink Partnrs downgraded 10x Genomics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 13th. Weiss Ratings restated a "sell (e+)" rating on shares of 10x Genomics in a research note on Saturday. Citigroup decreased their target price on 10x Genomics from $20.00 to $15.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. Finally, Barclays decreased their target price on 10x Genomics from $15.00 to $12.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, 10x Genomics has an average rating of "Hold" and an average target price of $17.65.

10x Genomics Stock Performance

TXG traded down $0.53 during mid-day trading on Wednesday, reaching $9.12. The stock had a trading volume of 4,652,572 shares, compared to its average volume of 2,350,971. The stock has a market capitalization of $1.12 billion, a P/E ratio of -6.00 and a beta of 1.94. The firm's fifty day simple moving average is $8.83 and its two-hundred day simple moving average is $12.45. 10x Genomics, Inc. has a 52 week low of $6.78 and a 52 week high of $27.49.

10x Genomics (NASDAQ:TXG - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.09. 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. The business had revenue of $154.88 million for the quarter, compared to analyst estimates of $131.91 million. During the same period last year, the company earned ($0.50) EPS. The firm's revenue was down 2.3% on a year-over-year basis. As a group, analysts expect that 10x Genomics, Inc. will post -1.43 EPS for the current fiscal year.

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.