Renaissance Technologies LLC Acquires Shares of 386,955 10x Genomics, Inc. (NASDAQ:TXG)

Renaissance Technologies LLC bought a new position in 10x Genomics, Inc. (NASDAQ:TXG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 386,955 shares of the company’s stock, valued at approximately $5,557,000. Renaissance Technologies LLC owned about 0.32% of 10x Genomics as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TXG. Signaturefd LLC boosted its stake in shares of 10x Genomics by 424.6% during the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock worth $26,000 after acquiring an additional 1,452 shares in the last quarter. Blue Trust Inc. raised its holdings 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 period. Sound Income Strategies LLC boosted its position in 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 purchasing an additional 1,330 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of 10x Genomics in the fourth quarter valued at approximately $52,000. Finally, SRS Capital Advisors Inc. increased its position in shares of 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 buying an additional 4,324 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on TXG. JPMorgan Chase & Co. dropped their price target on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Barclays cut their target price on shares of 10x Genomics from $15.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Stifel Nicolaus decreased their price target on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of 10x Genomics in a research note on Tuesday, April 8th. Finally, Leerink Partners downgraded 10x Genomics from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $25.00 to $12.00 in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $19.79.

Insider Buying and Selling at 10x Genomics

In related news, CEO Serge Saxonov sold 5,092 shares of the business’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 sale, the chief executive officer now owns 879,482 shares in the company, valued at approximately $9,735,865.74. The trade was a 0.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alan Mateo bought 40,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were purchased at an average price of $11.14 per share, with a total value of $445,600.00. Following the completion of the acquisition, the director now directly owns 61,691 shares in the company, 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. 10.03% of the stock is currently owned by corporate insiders.

10x Genomics Price Performance

10x Genomics stock opened at $7.51 on Monday. The firm has a 50 day simple moving average of $9.88 and a 200-day simple moving average of $13.43. The stock has a market cap of $918.49 million, a price-to-earnings ratio of -4.94 and a beta of 2.01. 10x Genomics, Inc. has a 1-year low of $6.78 and a 1-year high of $29.37.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Equities analysts expect that 10x Genomics, Inc. will post -1.43 earnings per share for the current fiscal year.

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.