Amova Asset Management Americas Inc. Purchases 109,270 Shares of 10x Genomics $TXG

Amova Asset Management Americas Inc. increased its stake in 10x Genomics (NASDAQ:TXG - Free Report) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,486,153 shares of the company's stock after purchasing an additional 109,270 shares during the quarter. Amova Asset Management Americas Inc. owned 4.34% of 10x Genomics worth $89,424,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in shares of 10x Genomics by 241.3% during the 2nd quarter. AQR Capital Management LLC now owns 4,137,801 shares of the company's stock valued at $47,916,000 after acquiring an additional 2,925,372 shares during the period. Millennium Management LLC grew its position in shares of 10x Genomics by 84.7% during the 3rd quarter. Millennium Management LLC now owns 5,437,969 shares of the company's stock valued at $63,570,000 after acquiring an additional 2,494,142 shares during the period. Wellington Management Group LLP grew its position in shares of 10x Genomics by 126.6% during the 3rd quarter. Wellington Management Group LLP now owns 4,285,628 shares of the company's stock valued at $50,099,000 after acquiring an additional 2,394,355 shares during the period. Quantinno Capital Management LP grew its position in shares of 10x Genomics by 207.2% during the 2nd quarter. Quantinno Capital Management LP now owns 2,233,526 shares of the company's stock valued at $25,864,000 after acquiring an additional 1,506,530 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of 10x Genomics by 777.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,073,865 shares of the company's stock valued at $12,553,000 after acquiring an additional 951,495 shares during the period. 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. Barclays boosted their price objective on shares of 10x Genomics from $22.00 to $30.00 and gave the company an "overweight" rating in a research report on Tuesday, April 14th. William Blair raised shares of 10x Genomics from a "market perform" rating to an "outperform" rating in a research report on Tuesday, March 31st. Stifel Nicolaus boosted their price objective on shares of 10x Genomics from $20.00 to $25.00 and gave the company a "buy" rating in a research report on Monday, March 2nd. Citigroup upped their target price on shares of 10x Genomics from $18.00 to $24.00 and gave the stock a "neutral" rating in a report on Tuesday, April 7th. Finally, Zacks Research downgraded shares of 10x Genomics from a "strong-buy" rating to a "hold" rating in a report on Monday, May 18th. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $23.17.

Insiders Place Their Bets

In other news, CFO Adam Taich sold 15,098 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $24.44, for a total transaction of $368,995.12. Following the transaction, the chief financial officer directly owned 379,898 shares in the company, valued at approximately $9,284,707.12. This trade represents a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Benjamin J. Hindson sold 11,595 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $24.44, for a total transaction of $283,381.80. Following the transaction, the insider owned 502,000 shares in the company, valued at approximately $12,268,880. This represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 75,586 shares of company stock worth $1,773,116 in the last three months. Corporate insiders own 8.84% of the company's stock.

10x Genomics Stock Up 4.8%

Shares of TXG stock opened at $30.59 on Wednesday. The company's fifty day simple moving average is $24.05 and its two-hundred day simple moving average is $20.79. The stock has a market cap of $3.88 billion, a P/E ratio of -179.94 and a beta of 2.12. 10x Genomics has a 52 week low of $10.12 and a 52 week high of $35.65.

10x Genomics (NASDAQ:TXG - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.19. The firm had revenue of $150.84 million for the quarter, compared to analysts' expectations of $146.41 million. 10x Genomics had a negative net margin of 3.55% and a negative return on equity of 2.86%. The business's revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.28) EPS. On average, analysts anticipate that 10x Genomics will post -0.79 EPS for the current fiscal year.

About 10x Genomics

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.

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