Meridiem Capital Partners LP Makes New Investment in 10x Genomics, Inc. (NASDAQ:TXG)

Meridiem Capital Partners LP acquired a new position in 10x Genomics, Inc. (NASDAQ:TXG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 342,870 shares of the company's stock, valued at approximately $4,924,000. Meridiem Capital Partners LP owned approximately 0.28% of 10x Genomics at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TXG. RA Capital Management L.P. purchased a new stake in shares of 10x Genomics in the fourth quarter worth approximately $47,092,000. Assenagon Asset Management S.A. purchased a new stake in shares of 10x Genomics in the fourth quarter valued at about $26,308,000. D. E. Shaw & Co. Inc. purchased a new stake in shares of 10x Genomics in the fourth quarter valued at about $17,499,000. ARK Investment Management LLC lifted 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. Finally, BNP Paribas Financial Markets purchased a new position in 10x Genomics during the fourth quarter worth about $9,083,000. 84.68% of the stock is currently owned by institutional investors.

10x Genomics Price Performance

NASDAQ:TXG traded up $0.19 during trading hours on Friday, hitting $9.39. The stock had a trading volume of 3,013,323 shares, compared to its average volume of 2,364,889. 10x Genomics, Inc. has a one year low of $6.78 and a one year high of $25.65. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -6.18 and a beta of 1.94. The company has a 50 day simple moving average of $8.80 and a two-hundred day simple moving average of $12.41.

10x Genomics (NASDAQ:TXG - Get Free Report) last posted 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. 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. The firm had revenue of $154.88 million for the quarter, compared to analysts' expectations of $131.91 million. During the same quarter last year, the company posted ($0.50) EPS. The business's quarterly revenue was down 2.3% on a year-over-year basis. Equities research analysts anticipate that 10x Genomics, Inc. will post -1.43 earnings per share for the current year.

Insider Transactions at 10x Genomics

In other news, Director Alan Mateo acquired 40,000 shares of the stock in a transaction dated Friday, February 21st. The stock was purchased at an average cost of $11.14 per share, with a total value of $445,600.00. Following the completion of the purchase, the director now owns 61,691 shares in the company, valued at approximately $687,237.74. The trade was a 184.41% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Benjamin J. Hindson sold 4,573 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $11.07, for a total value of $50,623.11. Following the transaction, the insider now owns 335,324 shares in the company, valued at approximately $3,712,036.68. This represents a 1.35% decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.39% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on TXG shares. Barclays dropped their target price on shares of 10x Genomics from $15.00 to $12.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Stifel Nicolaus reduced their price objective on 10x Genomics from $21.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Leerink Partners cut 10x Genomics from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $25.00 to $12.00 in a research note on Thursday, February 13th. UBS Group reduced their price target on shares of 10x Genomics from $14.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of 10x Genomics in a research note on Saturday, May 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $16.42.

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.