Assenagon Asset Management S.A. Sells 97,373 Shares of 10x Genomics, Inc. (NASDAQ:TXG)

Assenagon Asset Management S.A. lowered its position in shares of 10x Genomics, Inc. (NASDAQ:TXG - Free Report) by 5.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,734,634 shares of the company's stock after selling 97,373 shares during the quarter. Assenagon Asset Management S.A. owned 1.42% of 10x Genomics worth $15,143,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Signaturefd LLC boosted its stake in 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 buying an additional 1,452 shares during the period. GF Fund Management CO. LTD. acquired a new position in 10x Genomics in the 4th quarter worth approximately $32,000. Blue Trust Inc. grew its stake in shares of 10x Genomics by 86.5% during the 4th quarter. Blue Trust Inc. now owns 3,312 shares of the company's stock worth $48,000 after purchasing an additional 1,536 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of 10x Genomics during the 4th quarter valued at approximately $52,000. Finally, GAMMA Investing LLC lifted its holdings in 10x Genomics by 81.8% in the 1st quarter. GAMMA Investing LLC now owns 3,586 shares of the company's stock valued at $31,000 after purchasing an additional 1,614 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company's stock.

Analyst Upgrades and Downgrades

TXG has been the subject of a number of recent research reports. Morgan Stanley cut their target price on 10x Genomics from $26.00 to $18.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Canaccord Genuity Group decreased their price objective on 10x Genomics from $18.00 to $15.00 and set a "buy" rating for the company in a report on Monday, May 12th. UBS Group cut their price target on 10x Genomics from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. JPMorgan Chase & Co. cut their price objective 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. Finally, Citigroup dropped their price target on 10x Genomics from $20.00 to $15.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, 10x Genomics has an average rating of "Hold" and a consensus price target of $15.81.

Insiders Place Their Bets

In other news, insider Benjamin J. Hindson sold 7,485 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $8.30, for a total transaction of $62,125.50. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Serge Saxonov sold 9,343 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $8.30, for a total value of $77,546.90. Following the sale, the chief executive officer now owns 1,083,625 shares of the company's stock, valued at $8,994,087.50. This trade represents a 0.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,872 shares of company stock worth $173,238 in the last 90 days. Company insiders own 9.39% of the company's stock.

10x Genomics Stock Performance

NASDAQ:TXG traded down $0.17 on Friday, hitting $10.41. 2,237,808 shares of the stock were exchanged, compared to its average volume of 2,548,702. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of -6.85 and a beta of 1.99. 10x Genomics, Inc. has a 52 week low of $6.78 and a 52 week high of $24.76. The company's 50-day moving average price is $8.75 and its 200 day moving average price is $11.56.

10x Genomics (NASDAQ:TXG - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.36) 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 analysts' expectations of $131.91 million. 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. The business's quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.50) EPS. As a group, equities research analysts predict that 10x Genomics, Inc. will post -1.43 earnings per share for the current 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.