Bellevue Group AG Grows Position in 10x Genomics, Inc. (NASDAQ:TXG)

Bellevue Group AG raised its holdings in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 5.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 308,311 shares of the company’s stock after purchasing an additional 15,138 shares during the quarter. Bellevue Group AG’s holdings in 10x Genomics were worth $11,571,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TXG. Bamco Inc. NY lifted its position in 10x Genomics by 59.4% in the first quarter. Bamco Inc. NY now owns 314,862 shares of the company’s stock valued at $11,817,000 after buying an additional 117,300 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in 10x Genomics by 17.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,657,227 shares of the company’s stock valued at $137,257,000 after buying an additional 553,053 shares during the last quarter. Magnetar Financial LLC acquired a new position in 10x Genomics in the first quarter valued at about $3,388,000. Lazard Asset Management LLC increased its stake in 10x Genomics by 23.1% during the first quarter. Lazard Asset Management LLC now owns 74,540 shares of the company’s stock worth $2,797,000 after purchasing an additional 13,972 shares during the period. Finally, Westwood Holdings Group Inc. purchased a new stake in 10x Genomics during the first quarter worth about $939,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

10x Genomics Stock Up 1.5 %

10x Genomics stock traded up $0.30 during mid-day trading on Friday, hitting $20.22. The company had a trading volume of 1,648,334 shares, compared to its average volume of 2,496,850. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of -9.07 and a beta of 1.84. 10x Genomics, Inc. has a 1 year low of $15.28 and a 1 year high of $63.57. The business has a fifty day moving average of $20.21 and a 200 day moving average of $31.77.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Tuesday, April 30th. The company reported ($0.50) EPS for the quarter, meeting the consensus estimate of ($0.50). The company had revenue of $141.01 million for the quarter, compared to analyst estimates of $142.24 million. 10x Genomics had a negative net margin of 42.20% and a negative return on equity of 30.85%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.44) earnings per share. Equities analysts anticipate that 10x Genomics, Inc. will post -1.53 earnings per share for the current year.

Insider Buying and Selling at 10x Genomics

In other news, CEO Serge Saxonov sold 4,877 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $118,511.10. Following the completion of the sale, the chief executive officer now directly owns 889,641 shares of the company’s stock, valued at $21,618,276.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Serge Saxonov sold 4,877 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $118,511.10. Following the completion of the sale, the chief executive officer now directly owns 889,641 shares of the company’s stock, valued at $21,618,276.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Benjamin J. Hindson sold 4,087 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total value of $99,314.10. Following the completion of the sale, the insider now directly owns 350,055 shares of the company’s stock, valued at $8,506,336.50. The disclosure for this sale can be found here. Insiders have sold 11,900 shares of company stock worth $289,170 over the last three months. Insiders own 10.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on TXG. Canaccord Genuity Group cut their price target on shares of 10x Genomics from $50.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. lowered shares of 10x Genomics from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $40.00 to $20.00 in a research note on Thursday, July 18th. Deutsche Bank Aktiengesellschaft lowered shares of 10x Genomics from a “buy” rating to a “hold” rating and cut their price target for the stock from $55.00 to $25.00 in a research note on Wednesday, July 10th. Stifel Nicolaus cut their price target on shares of 10x Genomics from $53.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. Finally, Barclays cut their price target on shares of 10x Genomics from $36.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.29.

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.