Northern Trust Corp Sells 31,923 Shares of 10x Genomics, Inc. (NASDAQ:TXG)

Northern Trust Corp lowered its stake in 10x Genomics, Inc. (NASDAQ:TXG - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 561,666 shares of the company's stock after selling 31,923 shares during the period. Northern Trust Corp owned 0.46% of 10x Genomics worth $8,066,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Signaturefd LLC lifted its position in 10x Genomics by 424.6% during the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company's stock valued at $26,000 after purchasing an additional 1,452 shares during the period. Blue Trust Inc. lifted its holdings in 10x Genomics by 73.1% in the fourth quarter. Blue Trust Inc. now owns 3,075 shares of the company's stock valued at $44,000 after buying an additional 1,299 shares during the period. Sound Income Strategies LLC lifted its holdings in 10x Genomics by 65.2% in the fourth quarter. Sound Income Strategies LLC now owns 3,370 shares of the company's stock valued at $48,000 after buying an additional 1,330 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in 10x Genomics in the fourth quarter valued at approximately $52,000. Finally, SRS Capital Advisors Inc. grew its holdings in 10x Genomics by 817.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 4,853 shares of the company's stock worth $70,000 after acquiring an additional 4,324 shares during the period. Institutional investors own 84.68% of the company's stock.

Insiders Place Their Bets

In other 10x Genomics news, insider Benjamin J. Hindson sold 4,573 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $50,623.11. Following the completion of the transaction, the insider now directly owns 335,324 shares in the company, valued at $3,712,036.68. This trade represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Serge Saxonov sold 5,092 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $56,368.44. Following the transaction, the chief executive officer now directly owns 879,482 shares in the company, valued at $9,735,865.74. This trade represents a 0.58% decrease in their position. The disclosure for this sale can be found here. Insiders own 9.39% of the company's stock.

10x Genomics Stock Down 4.3%

TXG traded down $0.37 during trading on Friday, hitting $8.17. The company had a trading volume of 1,798,143 shares, compared to its average volume of 2,389,815. The company has a market capitalization of $999.21 million, a PE ratio of -5.38 and a beta of 1.94. 10x Genomics, Inc. has a one year low of $6.78 and a one year high of $24.76. The firm's 50-day moving average price is $8.59 and its 200 day moving average price is $12.06.

10x Genomics (NASDAQ:TXG - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating 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 return on equity of 25.40% and a negative net margin of 29.90%. The company's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.50) EPS. Sell-side analysts forecast that 10x Genomics, Inc. will post -1.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TXG. Leerink Partnrs downgraded 10x Genomics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 13th. Canaccord Genuity Group reduced their target price on 10x Genomics from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Stifel Nicolaus decreased their target price on 10x Genomics from $21.00 to $18.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Barclays cut their price target 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, UBS Group decreased their price objective on shares of 10x Genomics from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $15.81.

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.