GAMMA Investing LLC Increases Stock Holdings in 10x Genomics (NASDAQ:TXG)

GAMMA Investing LLC raised its holdings in shares of 10x Genomics (NASDAQ:TXG) by 81.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,586 shares of the company’s stock after acquiring an additional 1,614 shares during the quarter. GAMMA Investing LLC’s holdings in 10x Genomics were worth $31,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC increased 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 purchasing an additional 1,452 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of 10x Genomics during the 4th quarter worth approximately $32,000. Deutsche Bank AG increased its position in 10x Genomics by 35.3% during the fourth quarter. Deutsche Bank AG now owns 10,190 shares of the company’s stock worth $146,000 after buying an additional 2,657 shares in the last quarter. Parallel Advisors LLC increased its position in 10x Genomics by 18.0% during the first quarter. Parallel Advisors LLC now owns 17,588 shares of the company’s stock worth $154,000 after buying an additional 2,686 shares in the last quarter. Finally, Swiss National Bank increased its position in 10x Genomics by 1.5% during the fourth quarter. Swiss National Bank now owns 188,400 shares of the company’s stock worth $2,705,000 after buying an additional 2,700 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TXG. Canaccord Genuity Group dropped their price objective on 10x Genomics from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, May 12th. Wall Street Zen downgraded shares of 10x Genomics from a “buy” rating to a “hold” rating in a report on Saturday, June 28th. JPMorgan Chase & Co. lowered their price target on shares of 10x Genomics from $12.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Bank of America lifted their price target on shares of 10x Genomics from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday, June 26th. Finally, Morgan Stanley lowered their target price on shares of 10x Genomics from $26.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $14.13.

10x Genomics Stock Up 1.4%

Shares of NASDAQ TXG opened at $12.80 on Friday. 10x Genomics has a 52-week low of $6.78 and a 52-week high of $24.76. The firm has a fifty day moving average of $10.22 and a 200-day moving average of $11.08. The stock has a market capitalization of $1.58 billion, a PE ratio of -9.85 and a beta of 2.03.

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

Insider Transactions at 10x Genomics

In other 10x Genomics news, CFO Adam Taich sold 4,044 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer owned 331,588 shares in the company, valued at $2,752,180.40. This represents a 1.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Benjamin J. Hindson sold 7,485 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $8.30, for a total value of $62,125.50. Following the completion of the transaction, the insider owned 448,374 shares of the company’s stock, valued at approximately $3,721,504.20. This represents a 1.64% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,872 shares of company stock worth $173,238. 9.39% of the stock is currently owned by company insiders.

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.