Charles Schwab Investment Management Inc. Trims Position in 10x Genomics, Inc. (NASDAQ:TXG)

Charles Schwab Investment Management Inc. lessened its stake in 10x Genomics, Inc. (NASDAQ:TXG) by 17.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 539,666 shares of the company’s stock after selling 111,916 shares during the period. Charles Schwab Investment Management Inc. owned 0.45% of 10x Genomics worth $7,750,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC increased its position in 10x Genomics by 2.7% during the 3rd quarter. FMR LLC now owns 13,367,979 shares of the company’s stock valued at $301,849,000 after purchasing an additional 357,470 shares during the period. ARK Investment Management LLC increased its position in 10x Genomics by 11.1% during the 4th quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock valued at $171,517,000 after purchasing an additional 1,193,712 shares during the period. Assenagon Asset Management S.A. purchased a new position in 10x Genomics during the 4th quarter valued at about $26,308,000. Geode Capital Management LLC increased its position in 10x Genomics by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company’s stock valued at $41,009,000 after purchasing an additional 42,777 shares during the period. Finally, State Street Corp increased its position in 10x Genomics by 7.1% during the 3rd quarter. State Street Corp now owns 1,750,643 shares of the company’s stock valued at $39,530,000 after purchasing an additional 116,534 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

10x Genomics Stock Up 4.4 %

TXG stock opened at $10.39 on Monday. The firm has a 50 day moving average of $12.68 and a 200 day moving average of $15.47. The stock has a market capitalization of $1.27 billion, a PE ratio of -6.84 and a beta of 1.93. 10x Genomics, Inc. has a 52 week low of $9.27 and a 52 week high of $38.49.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.08). 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. On average, equities research analysts expect that 10x Genomics, Inc. will post -1.43 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on TXG. Weiss Ratings reissued a “sell (e+)” rating on shares of 10x Genomics in a research report on Saturday. Canaccord Genuity Group cut their target price on shares of 10x Genomics from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Morgan Stanley cut their target price on shares of 10x Genomics from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Leerink Partnrs cut shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 13th. Finally, Barclays lowered their price target on shares of 10x Genomics from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.21.

Insider Buying and Selling at 10x Genomics

In other news, CEO Serge Saxonov sold 5,092 shares of 10x Genomics stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $56,368.44. Following the completion of the transaction, the chief executive officer now directly owns 879,482 shares of the company’s stock, valued at $9,735,865.74. The trade was a 0.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Benjamin J. Hindson sold 4,573 shares of 10x Genomics stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $50,623.11. Following the transaction, the insider now directly owns 335,324 shares of the company’s stock, valued at approximately $3,712,036.68. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.03% of the company’s stock.

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.