10x Genomics, Inc. (NASDAQ:TXG) Position Reduced by Baillie Gifford & Co.

Baillie Gifford & Co. trimmed its holdings in shares of 10x Genomics, Inc. (NASDAQ:TXG - Free Report) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,919,976 shares of the company's stock after selling 420,922 shares during the quarter. Baillie Gifford & Co. owned 6.70% of 10x Genomics worth $443,202,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. FMR LLC raised its position in shares of 10x Genomics by 56.4% during the 3rd quarter. FMR LLC now owns 12,666,998 shares of the company's stock valued at $522,514,000 after buying an additional 4,565,400 shares in the last quarter. BlackRock Inc. raised its position in 10x Genomics by 14.2% in the 1st quarter. BlackRock Inc. now owns 9,156,992 shares of the company's stock worth $696,572,000 after purchasing an additional 1,138,358 shares during the period. Vanguard Group Inc. raised its position in 10x Genomics by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 8,903,517 shares of the company's stock worth $367,270,000 after purchasing an additional 354,921 shares during the period. Sands Capital Management LLC raised its position in 10x Genomics by 10.2% in the 2nd quarter. Sands Capital Management LLC now owns 4,120,269 shares of the company's stock worth $230,076,000 after purchasing an additional 382,501 shares during the period. Finally, ARK Investment Management LLC raised its position in 10x Genomics by 35.0% in the 4th quarter. ARK Investment Management LLC now owns 4,041,287 shares of the company's stock worth $226,150,000 after purchasing an additional 1,047,827 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

10x Genomics Price Performance

TXG stock traded up $0.87 during midday trading on Tuesday, hitting $37.37. 731,742 shares of the stock traded hands, compared to its average volume of 1,405,934. The firm has a market cap of $4.45 billion, a P/E ratio of -17.22 and a beta of 1.90. The stock's fifty day simple moving average is $41.88 and its 200-day simple moving average is $43.46. 10x Genomics, Inc. has a 1-year low of $33.79 and a 1-year high of $63.57.

10x Genomics (NASDAQ:TXG - Get Free Report) last announced its earnings results on Thursday, February 15th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.05). 10x Genomics had a negative net margin of 41.17% and a negative return on equity of 28.82%. The company had revenue of $183.98 million during the quarter, compared to analyst estimates of $182.73 million. During the same quarter last year, the business earned ($0.15) EPS. The firm's revenue for the quarter was up 17.8% compared to the same quarter last year. On average, research analysts predict that 10x Genomics, Inc. will post -1.47 earnings per share for the current year.

Insider Activity

In related news, CEO Serge Saxonov sold 4,000 shares of the business's stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $45.24, for a total transaction of $180,960.00. Following the transaction, the chief executive officer now directly owns 856,381 shares in the company, valued at $38,742,676.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 10x Genomics news, insider Benjamin J. Hindson sold 2,613 shares of 10x Genomics stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total transaction of $121,086.42. Following the transaction, the insider now directly owns 283,059 shares of the company's stock, valued at $13,116,954.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Serge Saxonov sold 4,000 shares of 10x Genomics stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $45.24, for a total transaction of $180,960.00. Following the transaction, the chief executive officer now directly owns 856,381 shares in the company, valued at $38,742,676.44. The disclosure for this sale can be found here. Insiders have sold a total of 16,959 shares of company stock worth $773,766 over the last 90 days. 10.65% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TXG has been the subject of a number of analyst reports. Stifel Nicolaus decreased their target price on shares of 10x Genomics from $68.00 to $63.00 and set a "buy" rating for the company in a research report on Friday, February 16th. Bank of America raised shares of 10x Genomics from an "underperform" rating to a "neutral" rating and increased their target price for the company from $36.00 to $54.00 in a research report on Tuesday, December 12th. Guggenheim began coverage on shares of 10x Genomics in a report on Thursday, December 14th. They issued a "buy" rating and a $60.00 price target for the company. Barclays raised their price target on shares of 10x Genomics from $45.00 to $55.00 and gave the stock an "overweight" rating in a report on Thursday, January 25th. Finally, Wolfe Research began coverage on shares of 10x Genomics in a report on Wednesday, December 13th. They issued an "outperform" rating and a $55.00 price target for the company. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $62.13.

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.