Renaissance Technologies LLC Makes New $5.56 Million Investment in 10x Genomics, Inc. (NASDAQ:TXG)

Renaissance Technologies LLC purchased a new position in shares of 10x Genomics, Inc. (NASDAQ:TXG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 386,955 shares of the company's stock, valued at approximately $5,557,000. Renaissance Technologies LLC owned 0.32% of 10x Genomics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its position in 10x Genomics by 424.6% in the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company's stock worth $26,000 after buying an additional 1,452 shares in the last quarter. Blue Trust Inc. increased its stake in shares of 10x Genomics by 73.1% in the fourth quarter. Blue Trust Inc. now owns 3,075 shares of the company's stock worth $44,000 after acquiring an additional 1,299 shares during the last quarter. Sound Income Strategies LLC raised its holdings in shares of 10x Genomics by 65.2% during the fourth quarter. Sound Income Strategies LLC now owns 3,370 shares of the company's stock worth $48,000 after acquiring an additional 1,330 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in 10x Genomics during the fourth quarter valued at $52,000. Finally, SRS Capital Advisors Inc. grew its stake in 10x Genomics by 817.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 4,853 shares of the company's stock valued at $70,000 after purchasing an additional 4,324 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at 10x Genomics

In other news, CEO Serge Saxonov sold 5,092 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $11.07, for a total transaction of $56,368.44. Following the sale, the chief executive officer now directly owns 879,482 shares in the company, valued at approximately $9,735,865.74. The trade was a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Alan Mateo bought 40,000 shares of 10x Genomics stock in a transaction that occurred on 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 transaction, the director now owns 61,691 shares of the company's stock, valued at $687,237.74. This trade represents a 184.41 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 10.03% of the company's stock.

Wall Street Analysts Forecast Growth

TXG has been the subject of a number of recent research reports. UBS Group cut their price target on 10x Genomics from $20.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Citigroup dropped their price objective on 10x Genomics from $20.00 to $15.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. JPMorgan Chase & Co. reduced their target price on shares of 10x Genomics from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Leerink Partnrs lowered shares of 10x Genomics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 13th. Finally, Leerink Partners lowered shares of 10x Genomics from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $25.00 to $12.00 in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, 10x Genomics currently has an average rating of "Hold" and a consensus price target of $19.79.

10x Genomics Price Performance

Shares of NASDAQ TXG traded down $0.17 during trading hours on Friday, hitting $8.14. 549,251 shares of the company's stock were exchanged, compared to its average volume of 2,244,947. The company's 50-day moving average price is $9.55 and its 200-day moving average price is $13.19. 10x Genomics, Inc. has a 1-year low of $6.78 and a 1-year high of $29.37. The stock has a market capitalization of $995.54 million, a price-to-earnings ratio of -5.35 and a beta of 2.01.

10x Genomics (NASDAQ:TXG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) EPS for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.08). 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. On average, research analysts expect that 10x Genomics, Inc. will post -1.43 earnings per share for the current 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.