Voloridge Investment Management LLC Boosts Holdings in 10x Genomics, Inc. (NASDAQ:TXG)

Voloridge Investment Management LLC lifted its stake in 10x Genomics, Inc. (NASDAQ:TXG - Free Report) by 12.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,585,965 shares of the company's stock after purchasing an additional 171,161 shares during the period. Voloridge Investment Management LLC owned 1.31% of 10x Genomics worth $22,774,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TXG. RA Capital Management L.P. purchased a new stake in shares of 10x Genomics in the 4th quarter worth about $47,092,000. D. E. Shaw & Co. Inc. bought a new stake in shares of 10x Genomics during the fourth quarter valued at approximately $17,499,000. ARK Investment Management LLC boosted its position in shares of 10x Genomics by 11.1% during the fourth quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company's stock valued at $171,517,000 after purchasing an additional 1,193,712 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of 10x Genomics by 291.2% during the fourth quarter. Two Sigma Investments LP now owns 1,319,487 shares of the company's stock valued at $18,948,000 after purchasing an additional 982,203 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its position in shares of 10x Genomics by 240.6% during 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 in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. UBS Group dropped their price target on 10x Genomics from $14.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Stifel Nicolaus cut their price objective on shares of 10x Genomics from $21.00 to $18.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Stephens restated an "overweight" rating and issued a $14.00 price objective on shares of 10x Genomics in a report on Thursday, May 15th. Leerink Partners cut shares of 10x Genomics from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $25.00 to $12.00 in a report on Thursday, February 13th. Finally, The Goldman Sachs Group cut their price objective on shares of 10x Genomics from $7.50 to $6.50 and set a "sell" rating on the stock in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $15.81.

Insider Buying and Selling at 10x Genomics

In other news, insider Benjamin J. Hindson sold 4,573 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $50,623.11. Following the transaction, the insider now directly owns 335,324 shares in the company, valued at $3,712,036.68. This trade represents a 1.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Serge Saxonov sold 5,092 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $56,368.44. Following the completion of the transaction, the chief executive officer now owns 879,482 shares in the company, valued at approximately $9,735,865.74. This trade represents a 0.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.39% of the company's stock.

10x Genomics Stock Up 2.6%

Shares of NASDAQ TXG opened at $8.54 on Friday. 10x Genomics, Inc. has a twelve month low of $6.78 and a twelve month high of $24.76. The firm has a market cap of $1.04 billion, a P/E ratio of -5.62 and a beta of 1.94. The company has a 50 day moving average of $8.63 and a 200 day moving average of $12.15.

10x Genomics (NASDAQ:TXG - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.36) earnings per share for the quarter, topping analysts' consensus estimates of ($0.45) by $0.09. 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. The company had revenue of $154.88 million during the quarter, compared to analyst estimates of $131.91 million. During the same period in the previous year, the business earned ($0.50) EPS. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. As a group, equities analysts expect that 10x Genomics, Inc. will post -1.43 earnings per share for the current fiscal year.

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.

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