Balyasny Asset Management L.P. Grows Stock Position in 10x Genomics, Inc. (NASDAQ:TXG)

Balyasny Asset Management L.P. grew its holdings in 10x Genomics, Inc. (NASDAQ:TXG - Free Report) by 216.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,075 shares of the company's stock after purchasing an additional 95,820 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.12% of 10x Genomics worth $2,011,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Atria Wealth Solutions Inc. boosted its position in 10x Genomics by 9.6% during the fourth quarter. Atria Wealth Solutions Inc. now owns 10,788 shares of the company's stock worth $155,000 after acquiring an additional 943 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of 10x Genomics by 73.1% during the fourth quarter. Blue Trust Inc. now owns 3,075 shares of the company's stock worth $44,000 after purchasing an additional 1,299 shares in the last quarter. Sound Income Strategies LLC lifted its position in 10x Genomics by 65.2% during the 4th quarter. Sound Income Strategies LLC now owns 3,370 shares of the company's stock worth $48,000 after acquiring an additional 1,330 shares in the last quarter. Signaturefd LLC lifted its position in shares of 10x Genomics by 424.6% during the fourth quarter. Signaturefd LLC now owns 1,794 shares of the company's stock worth $26,000 after purchasing an additional 1,452 shares in the last quarter. Finally, KBC Group NV boosted its position in 10x Genomics by 57.3% in the 4th quarter. KBC Group NV now owns 5,072 shares of the company's stock valued at $73,000 after buying an additional 1,847 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Weiss Ratings restated a "sell (e+)" rating on shares of 10x Genomics in a research note on Saturday, May 10th. Citigroup cut their target price on shares of 10x Genomics from $20.00 to $15.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. JPMorgan Chase & Co. decreased their target price on 10x Genomics from $12.00 to $9.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Canaccord Genuity Group lowered their price target on 10x Genomics from $18.00 to $15.00 and set a "buy" rating on the stock in a research note on Monday. Finally, UBS Group reduced their price target on shares of 10x Genomics from $14.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $16.42.

10x Genomics Stock Up 2.1%

Shares of TXG stock traded up $0.19 during mid-day trading on Friday, reaching $9.39. 3,013,323 shares of the company's stock traded hands, compared to its average volume of 2,361,074. 10x Genomics, Inc. has a 12 month low of $6.78 and a 12 month high of $26.18. The company's 50-day moving average price is $8.80 and its 200-day moving average price is $12.41. The company has a market cap of $1.15 billion, a P/E ratio of -6.18 and a beta of 1.94.

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

Insider Transactions at 10x Genomics

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

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.