Blue Trust Inc. Raises Position in 10x Genomics, Inc. (NASDAQ:TXG)

Blue Trust Inc. lifted its position in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 136.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,776 shares of the company’s stock after buying an additional 1,025 shares during the period. Blue Trust Inc.’s holdings in 10x Genomics were worth $40,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. ARK Investment Management LLC lifted its position in shares of 10x Genomics by 48.2% during the second quarter. ARK Investment Management LLC now owns 9,313,763 shares of the company’s stock worth $181,153,000 after purchasing an additional 3,029,951 shares during the last quarter. Vanguard Group Inc. grew its position in 10x Genomics by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,101,536 shares of the company’s stock worth $341,581,000 after purchasing an additional 90,204 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of 10x Genomics by 69.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,143,067 shares of the company’s stock valued at $119,483,000 after acquiring an additional 2,521,289 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of 10x Genomics by 17.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,657,227 shares of the company’s stock valued at $137,257,000 after acquiring an additional 553,053 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. grew its holdings in shares of 10x Genomics by 58.6% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock valued at $135,780,000 after acquiring an additional 1,338,248 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

10x Genomics Stock Up 1.9 %

Shares of NASDAQ:TXG opened at $16.33 on Friday. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -10.67 and a beta of 1.85. 10x Genomics, Inc. has a 12 month low of $14.02 and a 12 month high of $57.90. The company’s fifty day simple moving average is $19.85 and its 200 day simple moving average is $21.33.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.30) EPS for the quarter, beating 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 net margin of 28.93% and a negative return on equity of 25.07%. The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.51) EPS. Research analysts expect that 10x Genomics, Inc. will post -1.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Justin J. Mcanear sold 2,961 shares of the business’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 $66,711.33. Following the completion of the transaction, the chief financial officer now directly owns 143,242 shares in the company, valued at approximately $3,227,242.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 10x Genomics news, CFO Justin J. Mcanear sold 2,961 shares of the business’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 transaction of $66,711.33. Following the sale, the chief financial officer now directly owns 143,242 shares of the company’s stock, valued at $3,227,242.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Serge Saxonov sold 6,749 shares of the business’s 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 $152,054.97. Following the sale, the chief executive officer now directly owns 882,467 shares in the company, valued at $19,881,981.51. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,061 shares of company stock worth $316,794 in the last quarter. 10.03% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TXG has been the subject of a number of recent research reports. Barclays decreased their price objective on shares of 10x Genomics from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft lowered shares of 10x Genomics from a “buy” rating to a “hold” rating and dropped their price target for the stock from $55.00 to $25.00 in a research report on Wednesday, July 10th. Stephens reaffirmed an “overweight” rating and set a $30.00 price objective on shares of 10x Genomics in a research note on Thursday, October 10th. The Goldman Sachs Group decreased their price target on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating on the stock in a research note on Wednesday. Finally, Canaccord Genuity Group cut their price objective on shares of 10x Genomics from $32.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $29.19.

About 10x Genomics

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.