IQ EQ FUND MANAGEMENT IRELAND Ltd Has $912,000 Stock Holdings in 10x Genomics (NASDAQ:TXG)

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in 10x Genomics by 98.0%, owning approximately $912,000 worth of stock after acquiring an additional 51,725 shares.
• 10x Genomics recently reported a quarterly EPS of ($0.36), beating expectations, but noted a 2.3% decline in revenue compared to the same quarter last year.
• The company has seen mixed analyst ratings, with the consensus rating at "Hold" and a price target averaging $13.23.

IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in 10x Genomics (NASDAQ:TXG - Free Report) by 98.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 104,512 shares of the company's stock after purchasing an additional 51,725 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd owned approximately 0.09% of 10x Genomics worth $912,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. ING Groep NV raised its position in 10x Genomics by 154.4% during the first quarter. ING Groep NV now owns 191,800 shares of the company's stock valued at $1,674,000 after acquiring an additional 116,400 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in 10x Genomics by 153.6% in the first quarter. PNC Financial Services Group Inc. now owns 5,150 shares of the company's stock valued at $45,000 after acquiring an additional 3,119 shares during the last quarter. Blueshift Asset Management LLC acquired a new position in 10x Genomics during the first quarter worth $95,000. Jefferies Financial Group Inc. increased its stake in 10x Genomics by 130.0% during the 1st quarter. Jefferies Financial Group Inc. now owns 71,425 shares of the company's stock worth $624,000 after buying an additional 40,377 shares during the period. Finally, US Bancorp DE boosted its stake in shares of 10x Genomics by 314.5% in the 1st quarter. US Bancorp DE now owns 5,973 shares of the company's stock valued at $52,000 after buying an additional 4,532 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

10x Genomics Trading Up 1.1%

NASDAQ:TXG traded up $0.14 during midday trading on Thursday, hitting $12.80. 2,839,083 shares of the stock were exchanged, compared to its average volume of 3,039,207. The business has a 50-day moving average price of $11.86 and a two-hundred day moving average price of $10.82. 10x Genomics has a one year low of $6.78 and a one year 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 released its quarterly earnings data on Thursday, August 7th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.63. 10x Genomics had a negative return on equity of 23.22% and a negative net margin of 25.14%. The company's quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.32) earnings per share. Sell-side analysts forecast that 10x Genomics will post -1.43 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on TXG. Weiss Ratings reiterated a "sell (e+)" rating on shares of 10x Genomics in a research report on Tuesday, July 29th. Morgan Stanley lowered their target price on 10x Genomics from $26.00 to $18.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Barclays reaffirmed an "overweight" rating and set a $13.00 price objective (up previously from $12.00) on shares of 10x Genomics in a research note on Tuesday, June 24th. Canaccord Genuity Group decreased their price target on shares of 10x Genomics from $18.00 to $15.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Finally, UBS Group reduced their price target on 10x Genomics from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $13.23.

Insider Buying and Selling

In related news, CEO Serge Saxonov sold 9,343 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Adam Taich sold 4,044 shares of 10x Genomics stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total transaction of $33,565.20. Following the completion of the sale, the chief financial officer directly owned 331,588 shares of the company's stock, valued at approximately $2,752,180.40. The trade was a 1.20% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,872 shares of company stock valued at $173,238. Company insiders own 9.39% of the company's stock.

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.