GAMMA Investing LLC Purchases 29,334 Shares of 10x Genomics (NASDAQ:TXG)

GAMMA Investing LLC raised its holdings in shares of 10x Genomics (NASDAQ:TXG - Free Report) by 1,487.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,306 shares of the company's stock after purchasing an additional 29,334 shares during the quarter. GAMMA Investing LLC's holdings in 10x Genomics were worth $273,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Signaturefd LLC increased its stake in shares of 10x Genomics by 424.6% during the fourth quarter. Signaturefd LLC now owns 1,794 shares of the company's stock worth $26,000 after purchasing an additional 1,452 shares during the period. GF Fund Management CO. LTD. acquired a new position in 10x Genomics in the 4th quarter valued at $32,000. Blue Trust Inc. increased its position in 10x Genomics by 86.5% during the 4th quarter. Blue Trust Inc. now owns 3,312 shares of the company's stock worth $48,000 after buying an additional 1,536 shares during the period. SRS Capital Advisors Inc. increased its position in 10x Genomics by 817.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 4,853 shares of the company's stock worth $70,000 after buying an additional 4,324 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in shares of 10x Genomics by 4,184.4% during the first quarter. Versant Capital Management Inc now owns 12,082 shares of the company's stock worth $105,000 after buying an additional 11,800 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

10x Genomics Stock Up 7.1%

Shares of TXG stock traded up $0.77 during trading hours on Wednesday, reaching $11.66. The company's stock had a trading volume of 6,484,358 shares, compared to its average volume of 2,620,891. 10x Genomics has a fifty-two week low of $6.78 and a fifty-two week high of $24.76. The firm's 50 day simple moving average is $9.13 and its 200-day simple moving average is $11.29. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -8.97 and a beta of 1.99.

10x Genomics (NASDAQ:TXG - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.09. The business had revenue of $154.88 million for the quarter, compared to analyst estimates of $131.91 million. 10x Genomics had a negative return on equity of 23.22% and a negative net margin of 25.14%. 10x Genomics's revenue was down 2.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.50) earnings per share. Sell-side analysts predict that 10x Genomics will post -1.43 earnings per share for the current year.

Insider Activity at 10x Genomics

In related 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 transaction of $33,565.20. Following the sale, the chief financial officer now owns 331,588 shares of the company's stock, valued at $2,752,180.40. This trade represents a 1.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Benjamin J. Hindson sold 7,485 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $8.30, for a total value of $62,125.50. Following the completion of the transaction, the insider now directly owns 448,374 shares of the company's stock, valued at approximately $3,721,504.20. The trade was a 1.64% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,872 shares of company stock valued at $173,238. 10.03% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on TXG. Morgan Stanley decreased their price target on shares of 10x Genomics from $26.00 to $18.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Stephens restated an "overweight" rating and set a $14.00 target price on shares of 10x Genomics in a research report on Thursday, May 15th. JPMorgan Chase & Co. dropped their price target on shares of 10x Genomics from $12.00 to $9.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Barclays boosted their price target on 10x Genomics from $12.00 to $13.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, Citigroup lowered their price objective on 10x Genomics from $20.00 to $15.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $15.88.

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.