10x Genomics (NASDAQ:TXG) Shares Acquired by ARK Investment Management LLC

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 raised its holdings in shares of 10x Genomics (NASDAQ:TXG - Free Report) by 7.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,845,713 shares of the company's stock after purchasing an additional 901,656 shares during the period. 10x Genomics accounts for approximately 1.1% of ARK Investment Management LLC's investment portfolio, making the stock its 27th biggest holding. ARK Investment Management LLC owned about 10.50% of 10x Genomics worth $112,143,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. FMR LLC increased its position in shares of 10x Genomics by 0.6% in the 4th quarter. FMR LLC now owns 13,454,434 shares of the company's stock valued at $193,206,000 after acquiring an additional 86,455 shares during the period. RA Capital Management L.P. acquired a new position in shares of 10x Genomics in the 4th quarter valued at $47,092,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of 10x Genomics by 10.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,116,573 shares of the company's stock valued at $30,394,000 after acquiring an additional 193,588 shares during the period. Voloridge Investment Management LLC increased its position in shares of 10x Genomics by 12.1% in the 4th quarter. Voloridge Investment Management LLC now owns 1,585,965 shares of the company's stock valued at $22,774,000 after acquiring an additional 171,161 shares during the period. Finally, Two Sigma Investments LP increased its position in shares of 10x Genomics by 291.2% in the 4th quarter. Two Sigma Investments LP now owns 1,319,487 shares of the company's stock valued at $18,948,000 after acquiring an additional 982,203 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at 10x Genomics

In other news, insider Benjamin J. Hindson sold 7,485 shares of 10x Genomics stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total value of $62,125.50. Following the sale, the insider owned 448,374 shares of the company's stock, valued at $3,721,504.20. The trade was 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 accessible through this hyperlink. Also, CEO Serge Saxonov sold 9,343 shares of 10x Genomics stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total transaction of $77,546.90. Following the completion of the sale, the chief executive officer directly owned 1,083,625 shares in the company, valued at approximately $8,994,087.50. The trade was a 0.85% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,872 shares of company stock worth $173,238. 9.39% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TXG. Weiss Ratings reissued a "sell (e+)" rating on shares of 10x Genomics in a research report on Saturday, July 12th. Stephens reaffirmed an "overweight" rating and issued a $14.00 price target on shares of 10x Genomics in a report on Thursday, May 15th. Bank of America upped their price target on shares of 10x Genomics from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Thursday, June 26th. Barclays reaffirmed an "overweight" rating and issued a $13.00 price target (up from $12.00) on shares of 10x Genomics in a report on Tuesday, June 24th. Finally, The Goldman Sachs Group lowered their price target on shares of 10x Genomics from $7.50 to $6.50 and set a "sell" rating on the stock in a report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $13.23.

10x Genomics Price Performance

Shares of NASDAQ:TXG opened at $14.11 on Friday. The company's fifty day moving average price is $10.99 and its 200 day moving average price is $10.94. 10x Genomics has a 12 month low of $6.78 and a 12 month high of $24.76. The firm has a market capitalization of $1.74 billion, a P/E ratio of -10.85 and a beta of 2.03.

10x Genomics (NASDAQ:TXG - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.36) EPS 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 analyst estimates 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% compared to the same quarter last year. During the same period last year, the business earned ($0.50) EPS. On average, sell-side analysts anticipate that 10x Genomics will post -1.43 EPS 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.

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