Federated Hermes Inc. Takes Position in 10x Genomics (NASDAQ:TXG)

Federated Hermes Inc. bought a new position in 10x Genomics (NASDAQ:TXG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 102,863 shares of the company's stock, valued at approximately $898,000. Federated Hermes Inc. owned about 0.08% of 10x Genomics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of TXG. RA Capital Management L.P. acquired a new position in 10x Genomics during the fourth quarter valued at approximately $47,092,000. D. E. Shaw & Co. Inc. acquired a new position in shares of 10x Genomics during the 4th quarter valued at $17,499,000. Two Sigma Investments LP boosted its position in 10x Genomics by 291.2% during the 4th quarter. Two Sigma Investments LP now owns 1,319,487 shares of the company's stock worth $18,948,000 after purchasing an additional 982,203 shares during the period. ARK Investment Management LLC increased its holdings in 10x Genomics by 7.5% in the 1st quarter. ARK Investment Management LLC now owns 12,845,713 shares of the company's stock valued at $112,143,000 after purchasing an additional 901,656 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position 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 purchasing an additional 873,200 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

10x Genomics Trading Up 1.1%

Shares of NASDAQ TXG opened at $12.80 on Friday. The business has a 50 day simple moving average of $11.86 and a 200-day simple moving average of $10.82. 10x Genomics has a twelve month low of $6.78 and a twelve month high of $24.76. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -9.85 and a beta of 2.03.

10x Genomics (NASDAQ:TXG - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of ($0.35) by $0.63. 10x Genomics had a negative net margin of 25.14% and a negative return on equity of 23.22%. The company had revenue of $172.91 million for the quarter, compared to analysts' expectations of $139.36 million. During the same period in the prior year, the company earned ($0.32) earnings per share. The firm's revenue was up 12.9% compared to the same quarter last year. As a group, equities analysts predict that 10x Genomics will post -1.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TXG has been the subject of several analyst reports. Barclays reaffirmed an "overweight" rating and issued a $13.00 target price (up previously from $12.00) on shares of 10x Genomics in a research report on Tuesday, June 24th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of 10x Genomics in a research report on Tuesday, July 29th. JPMorgan Chase & Co. decreased their target price on shares of 10x Genomics from $12.00 to $9.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Wall Street Zen lowered shares of 10x Genomics from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. Finally, The Goldman Sachs Group lowered their target price on 10x Genomics from $7.50 to $6.50 and set a "sell" rating for the company in a research note on Monday, May 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, 10x Genomics presently has a consensus rating of "Hold" and an average target price of $13.23.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, CFO Adam Taich sold 4,044 shares of the 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 of the company's stock, valued at $2,752,180.40. This trade represents a 1.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Benjamin J. Hindson sold 7,485 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 $62,125.50. Following the completion of the sale, the insider owned 448,374 shares in the company, valued at $3,721,504.20. The trade was a 1.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,872 shares of company stock worth $173,238 over the last ninety days. Company insiders own 9.39% of the company's stock.

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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