Rhumbline Advisers Purchases 12,374 Shares of 10x Genomics (NASDAQ:TXG)

Rhumbline Advisers increased its position in shares of 10x Genomics (NASDAQ:TXG) by 11.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 120,490 shares of the company’s stock after buying an additional 12,374 shares during the quarter. Rhumbline Advisers owned about 0.10% of 10x Genomics worth $1,052,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Alberta Investment Management Corp acquired a new position in shares of 10x Genomics during the fourth quarter worth approximately $3,206,000. Atria Wealth Solutions Inc. grew its holdings in shares of 10x Genomics by 9.6% during the fourth quarter. Atria Wealth Solutions Inc. now owns 10,788 shares of the company’s stock valued at $155,000 after buying an additional 943 shares during the last quarter. ARK Investment Management LLC increased 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 worth $171,517,000 after acquiring an additional 1,193,712 shares in the last quarter. Invesco Ltd. increased its position in shares of 10x Genomics by 21.8% during the fourth quarter. Invesco Ltd. now owns 118,067 shares of the company’s stock worth $1,695,000 after acquiring an additional 21,134 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of 10x Genomics by 35.3% in the 4th quarter. Deutsche Bank AG now owns 10,190 shares of the company’s stock worth $146,000 after acquiring an additional 2,657 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

10x Genomics Stock Performance

TXG opened at $10.87 on Friday. The firm has a market cap of $1.34 billion, a P/E ratio of -8.36 and a beta of 1.99. 10x Genomics has a fifty-two week low of $6.78 and a fifty-two week high of $24.76. The firm has a 50-day moving average of $8.97 and a 200 day moving average of $11.42.

10x Genomics (NASDAQ:TXG) last released its earnings results on Thursday, May 8th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.09. 10x Genomics had a negative net margin of 25.14% and a negative return on equity of 23.22%. The firm had revenue of $154.88 million during the quarter, compared to the consensus estimate of $131.91 million. During the same period in the prior year, the firm earned ($0.50) EPS. The company’s revenue was down 2.3% compared to the same quarter last year. Equities research analysts predict that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TXG. Stephens reissued an “overweight” rating and set a $14.00 price objective on shares of 10x Genomics in a report on Thursday, May 15th. UBS Group decreased their price target on 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. JPMorgan Chase & Co. dropped their price objective on 10x Genomics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Citigroup cut their price objective on shares of 10x Genomics from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Finally, Canaccord Genuity Group reduced their target price on shares of 10x Genomics from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, May 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, 10x Genomics presently has an average rating of “Hold” and an average price target of $15.81.

Insider Buying and Selling at 10x Genomics

In other news, CEO Serge Saxonov sold 9,343 shares of the company’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $8.30, for a total transaction of $77,546.90. Following the transaction, the chief executive officer now owns 1,083,625 shares of the company’s stock, valued at $8,994,087.50. This represents a 0.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Adam Taich sold 4,044 shares of 10x Genomics stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $8.30, for a total value of $33,565.20. Following the completion of the sale, the chief financial officer now directly owns 331,588 shares of the company’s stock, valued at approximately $2,752,180.40. This trade represents a 1.20% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,872 shares of company stock valued at $173,238. Company insiders own 9.39% of the company’s stock.

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.