ARK Investment Management LLC Grows Stock Holdings in 10x Genomics, Inc. (NASDAQ:TXG)

ARK Investment Management LLC boosted its holdings in 10x Genomics, Inc. (NASDAQ:TXG) by 15.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,750,345 shares of the company’s stock after buying an additional 1,436,582 shares during the quarter. 10x Genomics makes up about 2.2% of ARK Investment Management LLC’s holdings, making the stock its 12th largest position. ARK Investment Management LLC owned 8.92% of 10x Genomics worth $242,743,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of 10x Genomics by 113.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock valued at $26,000 after buying an additional 371 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of 10x Genomics by 451.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock valued at $35,000 after purchasing an additional 1,265 shares during the last quarter. First Horizon Advisors Inc. boosted its position in shares of 10x Genomics by 74.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock valued at $37,000 after purchasing an additional 808 shares during the period. Covestor Ltd increased its position in 10x Genomics by 501.7% during the first quarter. Covestor Ltd now owns 1,047 shares of the company’s stock worth $39,000 after buying an additional 873 shares during the period. Finally, Blue Trust Inc. lifted its stake in 10x Genomics by 136.5% in the third quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock valued at $40,000 after buying an additional 1,025 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at 10x Genomics

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

10x Genomics Price Performance

Shares of TXG stock opened at $16.17 on Friday. The company’s fifty day simple moving average is $19.51 and its 200-day simple moving average is $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 earnings results on Tuesday, October 29th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.04. 10x Genomics had a negative return on equity of 25.07% and a negative net margin of 28.93%. The business had revenue of $151.65 million for the quarter, compared to the consensus estimate of $158.84 million. During the same period last year, the business posted ($0.51) EPS. The company’s revenue was down 1.3% on a year-over-year basis. As a group, research analysts forecast that 10x Genomics, Inc. will post -1.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TXG. Stifel Nicolaus reduced their price objective on 10x Genomics from $53.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, July 16th. The Goldman Sachs Group lowered their price objective on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating on the stock in a research report on Wednesday, October 30th. Citigroup reduced their target price on shares of 10x Genomics from $35.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Jefferies Financial Group upgraded shares of 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Monday, July 22nd. Finally, Barclays reduced their price objective on shares of 10x Genomics from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.19.

10x Genomics 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.