Squarepoint Ops LLC Has $8.48 Million Stake in 10x Genomics, Inc. (NASDAQ:TXG)

Squarepoint Ops LLC lowered its stake in shares of 10x Genomics, Inc. (NASDAQ:TXG - Free Report) by 17.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 590,510 shares of the company's stock after selling 121,729 shares during the quarter. Squarepoint Ops LLC owned approximately 0.49% of 10x Genomics worth $8,480,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC raised its position 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. Blue Trust Inc. increased its position in 10x Genomics by 73.1% in the 4th quarter. Blue Trust Inc. now owns 3,075 shares of the company's stock worth $44,000 after purchasing an additional 1,299 shares during the last quarter. Sound Income Strategies LLC increased its position in 10x Genomics by 65.2% in the 4th quarter. Sound Income Strategies LLC now owns 3,370 shares of the company's stock worth $48,000 after purchasing an additional 1,330 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in 10x Genomics in the 4th quarter worth about $52,000. Finally, SRS Capital Advisors Inc. increased its position in 10x Genomics by 817.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 4,853 shares of the company's stock worth $70,000 after purchasing an additional 4,324 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Canaccord Genuity Group decreased their target price on 10x Genomics from $18.00 to $15.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Citigroup reduced their price objective on 10x Genomics from $20.00 to $15.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. The Goldman Sachs Group reduced their price objective on 10x Genomics from $7.50 to $6.50 and set a "sell" rating for the company in a research report on Monday, May 12th. UBS Group reduced their price objective on 10x Genomics from $14.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. cut 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 equities research 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's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $15.81.

10x Genomics Stock Up 1.3%

TXG stock traded up $0.12 during midday trading on Thursday, reaching $8.98. 760,950 shares of the company's stock traded hands, compared to its average volume of 2,390,601. The company has a 50-day simple moving average of $8.49 and a two-hundred day simple moving average of $11.93. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -5.89 and a beta of 1.94. 10x Genomics, Inc. has a 1-year low of $6.78 and a 1-year high of $24.76.

10x Genomics (NASDAQ:TXG - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.09. The company had revenue of $154.88 million during the quarter, compared to analysts' expectations of $131.91 million. 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. The business's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the firm earned ($0.50) EPS. Equities research analysts forecast that 10x Genomics, Inc. will post -1.43 EPS for the current year.

Insider Buying and Selling

In related 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 transaction 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 $3,721,504.20. This trade represents a 1.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Adam Taich sold 4,044 shares of 10x Genomics stock in a transaction dated 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 transaction, the chief financial officer now directly owns 331,588 shares of the company's stock, valued at approximately $2,752,180.40. This trade represents a 1.20% 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 valued at $173,238 over the last three months. Company insiders own 9.39% of the company's stock.

About 10x Genomics

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.