ING Groep NV Raises Stake in 10x Genomics (NASDAQ:TXG)

ING Groep NV increased its holdings in 10x Genomics (NASDAQ:TXG - Free Report) by 154.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 191,800 shares of the company's stock after purchasing an additional 116,400 shares during the period. ING Groep NV owned approximately 0.16% of 10x Genomics worth $1,674,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. lifted its holdings in shares of 10x Genomics by 153.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,150 shares of the company's stock worth $45,000 after acquiring an additional 3,119 shares during the last quarter. Blueshift Asset Management LLC bought a new stake in shares of 10x Genomics during the 1st quarter worth approximately $95,000. Jefferies Financial Group Inc. boosted its holdings in 10x Genomics by 130.0% during the 1st quarter. Jefferies Financial Group Inc. now owns 71,425 shares of the company's stock valued at $624,000 after acquiring an additional 40,377 shares during the period. US Bancorp DE increased its stake in 10x Genomics by 314.5% in the first quarter. US Bancorp DE now owns 5,973 shares of the company's stock worth $52,000 after purchasing an additional 4,532 shares during the period. Finally, Bayforest Capital Ltd lifted its position in shares of 10x Genomics by 183.4% during the first quarter. Bayforest Capital Ltd now owns 25,558 shares of the company's stock worth $223,000 after purchasing an additional 16,540 shares during the last quarter. Institutional investors own 84.68% of the company's stock.

10x Genomics Stock Performance

TXG traded down $0.51 on Friday, hitting $12.29. The company had a trading volume of 4,792,434 shares, compared to its average volume of 3,423,651. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of -9.45 and a beta of 2.03. The stock has a fifty day moving average price of $11.86 and a 200-day moving average price of $10.82. 10x Genomics has a 12-month low of $6.78 and a 12-month high of $24.76.

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

Insiders Place Their Bets

In other 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 value of $33,565.20. Following the completion of the sale, the chief financial officer owned 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Benjamin J. Hindson sold 7,485 shares of the 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 completion of the sale, the insider owned 448,374 shares of the company's stock, valued at approximately $3,721,504.20. This trade represents a 1.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,872 shares of company stock valued at $173,238. 9.39% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TXG has been the topic of several recent analyst reports. Morgan Stanley reduced 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. Barclays raised their target price on shares of 10x Genomics from $13.00 to $15.00 and gave the stock an "overweight" rating in a research report on Friday. The Goldman Sachs Group lowered their price target on 10x Genomics from $7.50 to $6.50 and set a "sell" rating for the company in a report on Monday, May 12th. Bank of America raised their price objective on 10x Genomics from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Thursday, June 26th. Finally, JPMorgan Chase & Co. decreased their target price on 10x Genomics from $12.00 to $9.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $13.50.

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.