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

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

Several other hedge funds and other institutional investors also recently bought and sold shares of TXG. Alberta Investment Management Corp purchased a new position in 10x Genomics in the 4th quarter valued at $3,206,000. Atria Wealth Solutions Inc. grew its position in shares of 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 buying an additional 943 shares in the last quarter. ARK Investment Management LLC lifted its stake 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 worth $171,517,000 after purchasing an additional 1,193,712 shares during the last quarter. Invesco Ltd. lifted its stake in 10x Genomics by 21.8% during the fourth quarter. Invesco Ltd. now owns 118,067 shares of the company's stock worth $1,695,000 after purchasing an additional 21,134 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in 10x Genomics by 35.3% in the fourth quarter. Deutsche Bank AG now owns 10,190 shares of the company's stock valued at $146,000 after buying an additional 2,657 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TXG shares. Morgan Stanley dropped their price objective on 10x Genomics from $26.00 to $18.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Wall Street Zen upgraded 10x Genomics from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. UBS Group lowered their target price 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. Citigroup lowered their price objective 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, Canaccord Genuity Group lowered their price objective on 10x Genomics from $18.00 to $15.00 and set a "buy" rating for the company in a research note on Monday, May 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $15.81.

Insiders Place Their Bets

In other news, CEO Serge Saxonov sold 9,343 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 1,083,625 shares of the company's stock, valued at approximately $8,994,087.50. This represents a 0.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Adam Taich sold 4,044 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $8.30, for a total value of $33,565.20. Following the sale, the chief financial officer now owns 331,588 shares in the company, valued at approximately $2,752,180.40. This trade represents a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,872 shares of company stock valued at $173,238 over the last quarter. Insiders own 10.03% of the company's stock.

10x Genomics Price Performance

Shares of TXG traded down $0.45 during midday trading on Tuesday, reaching $10.56. The stock had a trading volume of 2,708,937 shares, compared to its average volume of 2,565,960. The company has a market capitalization of $1.30 billion, a P/E ratio of -8.12 and a beta of 1.99. The firm's 50 day moving average price is $8.86 and its 200-day moving average price is $11.46. 10x Genomics has a 52 week low of $6.78 and a 52 week high of $24.76.

10x Genomics (NASDAQ:TXG - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.36) earnings per share for the quarter, beating analysts' consensus estimates of ($0.45) by $0.09. 10x Genomics had a negative return on equity of 23.22% and a negative net margin of 25.14%. The business had revenue of $154.88 million for the quarter, compared to the consensus estimate of $131.91 million. During the same quarter in the previous year, the company posted ($0.50) earnings per share. 10x Genomics's revenue for the quarter was down 2.3% compared to the same quarter last year. On average, equities analysts forecast that 10x Genomics will post -1.43 earnings per share for the current 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.