Man Group plc Grows Holdings in 10x Genomics, Inc. (NASDAQ:TXG)

Man Group plc grew its stake in 10x Genomics, Inc. (NASDAQ:TXG - Free Report) by 77.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,666 shares of the company's stock after buying an additional 55,346 shares during the period. Man Group plc owned 0.10% of 10x Genomics worth $1,819,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. RA Capital Management L.P. acquired a new stake in 10x Genomics during the fourth quarter valued at $47,092,000. D. E. Shaw & Co. Inc. acquired a new stake in 10x Genomics during the fourth quarter valued at $17,499,000. ARK Investment Management LLC grew its position in 10x Genomics by 11.1% during the fourth quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company's stock valued at $171,517,000 after buying an additional 1,193,712 shares during the period. BNP Paribas Financial Markets acquired a new stake in 10x Genomics during the fourth quarter valued at $9,083,000. Finally, SVB Wealth LLC acquired a new stake in 10x Genomics during the fourth quarter valued at $7,505,000. Institutional investors and hedge funds own 84.68% of the company's stock.

Wall Street Analysts Forecast Growth

TXG has been the topic of several analyst reports. Citigroup dropped their price target on shares of 10x Genomics from $20.00 to $15.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Leerink Partners lowered shares of 10x Genomics from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $25.00 to $12.00 in a research report on Thursday, February 13th. Wall Street Zen upgraded shares of 10x Genomics from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Barclays dropped their target price on shares of 10x Genomics from $15.00 to $12.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Finally, Stephens reiterated an "overweight" rating and issued a $14.00 target price on shares of 10x Genomics in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $15.81.

Insiders Place Their Bets

In other news, CFO Adam Taich sold 4,044 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total value of $33,565.20. Following the sale, the chief financial officer now directly owns 331,588 shares of the company's stock, valued at approximately $2,752,180.40. The trade was a 1.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Benjamin J. Hindson sold 7,485 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total transaction of $62,125.50. Following the completion of the sale, the insider now directly owns 448,374 shares in the company, valued at $3,721,504.20. This trade represents a 1.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,872 shares of company stock valued at $173,238 over the last ninety days. Company insiders own 9.39% of the company's stock.

10x Genomics Stock Performance

Shares of NASDAQ:TXG traded up $0.17 during midday trading on Thursday, hitting $9.03. The company's stock had a trading volume of 661,438 shares, compared to its average volume of 2,389,956. The business's 50 day simple moving average is $8.49 and its 200 day simple moving average is $11.93. The company has a market cap of $1.11 billion, a P/E ratio of -5.94 and a beta of 1.94. 10x Genomics, Inc. has a 12-month low of $6.78 and a 12-month high of $24.76.

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 for the quarter, topping the consensus estimate of ($0.45) by $0.09. The firm had revenue of $154.88 million for the quarter, compared to the consensus estimate of $131.91 million. 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. The company's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the firm posted ($0.50) earnings per share. On average, sell-side analysts predict that 10x Genomics, Inc. will post -1.43 earnings per share for the current fiscal year.

About 10x Genomics

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.