ARK Investment Management LLC Has $112.14 Million Holdings in 10x Genomics (NASDAQ:TXG)

Key Points

• ARK Investment Management LLC increased its stake in 10x Genomics by 7.5%, acquiring an additional 901,656 shares, making it the company's 27th largest holding.
• Insiders at 10x Genomics, including CEO Serge Saxonov, have sold shares recently, with total insider sales amounting to 20,872 shares valued at $173,238 in the last three months.
• Wall Street analysts have mixed ratings for 10x Genomics, with the consensus rating being a "Hold" and a price target of $13.23.

ARK Investment Management LLC increased its position in shares of 10x Genomics (NASDAQ:TXG - Free Report) by 7.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,845,713 shares of the company's stock after acquiring an additional 901,656 shares during the period. 10x Genomics comprises 1.1% of ARK Investment Management LLC's holdings, making the stock its 27th largest holding. ARK Investment Management LLC owned approximately 10.50% of 10x Genomics worth $112,143,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new stake in shares of 10x Genomics in the 4th quarter worth approximately $32,000. GAMMA Investing LLC increased its position in shares of 10x Genomics by 81.8% during the first quarter. GAMMA Investing LLC now owns 3,586 shares of the company's stock valued at $31,000 after buying an additional 1,614 shares during the period. Signaturefd LLC increased its position in shares of 10x Genomics by 134.3% during the first quarter. Signaturefd LLC now owns 4,203 shares of the company's stock valued at $37,000 after buying an additional 2,409 shares during the period. Whittier Trust Co. purchased a new position in shares of 10x Genomics during the first quarter valued at about $41,000. Finally, Commonwealth Equity Services LLC purchased a new stake in 10x Genomics in the fourth quarter worth about $146,000. Institutional investors and hedge funds own 84.68% of the company's stock.

Wall Street Analyst Weigh In

TXG has been the subject of a number of recent analyst reports. Barclays reaffirmed an "overweight" rating and set a $13.00 price target (up from $12.00) on shares of 10x Genomics in a research note on Tuesday, June 24th. Wall Street Zen lowered shares of 10x Genomics from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. UBS Group lowered their price target on shares of 10x Genomics from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Bank of America raised their price objective on shares of 10x Genomics from $12.00 to $13.00 and gave the stock a "neutral" rating in a research report on Thursday, June 26th. Finally, Morgan Stanley dropped their price objective on shares of 10x Genomics from $26.00 to $18.00 and set an "overweight" rating for the company in a report on Monday, May 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $13.23.

10x Genomics Stock Up 1.0%

Shares of TXG stock traded up $0.15 during trading hours on Wednesday, hitting $14.15. 938,743 shares of the company were exchanged, compared to its average volume of 3,419,902. The firm has a market cap of $1.74 billion, a PE ratio of -10.88 and a beta of 2.03. 10x Genomics has a 1 year low of $6.78 and a 1 year high of $24.76. The firm has a fifty day moving average of $11.20 and a 200 day moving average of $10.89.

10x Genomics (NASDAQ:TXG - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $154.88 million during the quarter, compared to the consensus estimate of $131.91 million. 10x Genomics had a negative net margin of 25.14% and a negative return on equity of 23.22%. 10x Genomics's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.50) earnings per share. Analysts expect that 10x Genomics will post -1.43 earnings per share for the current year.

Insider Buying and Selling

In other 10x Genomics news, CFO Adam Taich sold 4,044 shares of the firm'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 $33,565.20. Following the sale, the chief financial officer directly owned 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Serge Saxonov sold 9,343 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total value of $77,546.90. Following the completion of the sale, the chief executive officer owned 1,083,625 shares in the company, valued at $8,994,087.50. The trade was a 0.85% 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 worth $173,238 over the last ninety days. 10.03% of the stock is owned by insiders.

10x Genomics 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.