CWM LLC boosted its holdings in 10x Genomics (NASDAQ:TXG - Free Report) by 112.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 48,906 shares of the company's stock after purchasing an additional 25,868 shares during the quarter. CWM LLC's holdings in 10x Genomics were worth $427,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in TXG. RA Capital Management L.P. bought a new stake in 10x Genomics in the fourth quarter worth approximately $47,092,000. D. E. Shaw & Co. Inc. acquired a new stake in 10x Genomics in the fourth quarter valued at approximately $17,499,000. Two Sigma Investments LP grew its stake in 10x Genomics by 291.2% in the fourth 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. Two Sigma Advisers LP grew its stake in 10x Genomics by 240.6% in the fourth quarter. Two Sigma Advisers LP now owns 1,236,200 shares of the company's stock valued at $17,752,000 after acquiring an additional 873,200 shares during the period. Finally, BNP Paribas Financial Markets acquired a new stake in 10x Genomics in the fourth quarter valued at approximately $9,083,000. 84.68% of the stock is currently owned by institutional investors.
10x Genomics Price Performance
Shares of TXG traded up $0.38 during mid-day trading on Friday, hitting $14.11. The stock had a trading volume of 3,318,483 shares, compared to its average volume of 3,662,019. The firm has a market cap of $1.74 billion, a P/E ratio of -10.85 and a beta of 2.03. The business has a fifty day moving average price of $10.99 and a 200-day moving average price of $10.94. 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 posted its 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. 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 during the quarter, compared to analysts' expectations of $131.91 million. During the same period in the previous year, the business earned ($0.50) earnings per share. The firm's revenue was down 2.3% on a year-over-year basis. As a group, research analysts expect that 10x Genomics will post -1.43 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, insider Benjamin J. Hindson sold 7,485 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 $62,125.50. Following the transaction, the insider directly owned 448,374 shares in the company, valued at $3,721,504.20. This trade represents a 1.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Serge Saxonov sold 9,343 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 $77,546.90. Following the completion of the transaction, the chief executive officer directly owned 1,083,625 shares in the company, valued at approximately $8,994,087.50. This represents 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 in the last 90 days. Insiders own 9.39% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on TXG. The Goldman Sachs Group cut their target price on 10x Genomics from $7.50 to $6.50 and set a "sell" rating on the stock in a research report on Monday, May 12th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of 10x Genomics in a research report on Saturday, July 12th. JPMorgan Chase & Co. cut their target price on 10x Genomics from $12.00 to $9.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. UBS Group cut their target price on 10x Genomics from $14.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Finally, Canaccord Genuity Group cut their target price on 10x Genomics from $18.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $13.23.
Read Our Latest Stock Analysis on TXG
10x Genomics Profile
(
Free Report)
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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