10x Genomics, Inc. (NASDAQ:TXG) Position Boosted by ARK Investment Management LLC

ARK Investment Management LLC raised its holdings in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 15.4% during the 3rd quarter, Holdings Channel reports. The fund owned 10,750,345 shares of the company’s stock after purchasing an additional 1,436,582 shares during the period. 10x Genomics makes up approximately 2.2% of ARK Investment Management LLC’s portfolio, making the stock its 12th largest holding. ARK Investment Management LLC owned approximately 0.09% of 10x Genomics worth $242,743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Interchange Capital Partners LLC acquired a new position in shares of 10x Genomics during the third quarter valued at approximately $285,000. Wealth Enhancement Advisory Services LLC boosted its stake in 10x Genomics by 84.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 23,952 shares of the company’s stock valued at $541,000 after buying an additional 10,935 shares in the last quarter. International Assets Investment Management LLC acquired a new position in 10x Genomics during the third quarter worth about $438,000. Lecap Asset Management Ltd. bought a new stake in 10x Genomics in the third quarter worth about $877,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in 10x Genomics by 2,280.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 38,963 shares of the company’s stock valued at $880,000 after acquiring an additional 37,326 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, insider Benjamin J. Hindson sold 4,351 shares of 10x Genomics stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $98,028.03. Following the sale, the insider now directly owns 345,704 shares of the company’s stock, valued at approximately $7,788,711.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Justin J. Mcanear sold 2,961 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $66,711.33. Following the sale, the chief financial officer now directly owns 143,242 shares in the company, valued at $3,227,242.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benjamin J. Hindson sold 4,351 shares of 10x Genomics stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $98,028.03. Following the completion of the transaction, the insider now owns 345,704 shares of the company’s stock, valued at approximately $7,788,711.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,061 shares of company stock valued at $316,794 in the last 90 days. 10.03% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Canaccord Genuity Group cut their price objective on 10x Genomics from $32.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. JPMorgan Chase & Co. cut their price objective on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Bank of America reduced their price target on shares of 10x Genomics from $36.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, July 18th. Stifel Nicolaus lowered their target price on 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, The Goldman Sachs Group reduced their price objective on 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.19.

10x Genomics Stock Down 2.6 %

Shares of TXG opened at $16.17 on Friday. The company has a 50-day simple moving average of $19.51 and a 200-day simple moving average of $21.02. 10x Genomics, Inc. has a 52 week low of $14.02 and a 52 week high of $57.90.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.04. The company had revenue of $151.65 million during the quarter, compared to the consensus estimate of $158.84 million. 10x Genomics had a negative return on equity of 25.07% and a negative net margin of 28.93%. The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.51) EPS. On average, research analysts anticipate that 10x Genomics, Inc. will post -1.4 earnings per share for the current fiscal year.

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.