Primecap Management Co. CA Grows Stake in 10x Genomics, Inc. (NASDAQ:TXG)

Primecap Management Co. CA lifted its stake in 10x Genomics, Inc. (NASDAQ:TXG) by 135.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,800 shares of the company’s stock after buying an additional 107,400 shares during the period. Primecap Management Co. CA owned approximately 0.16% of 10x Genomics worth $3,633,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Venrock Management VI LLC purchased a new stake in 10x Genomics during the 4th quarter worth $117,894,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of 10x Genomics by 58.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,621,778 shares of the company’s stock worth $135,925,000 after acquiring an additional 1,338,248 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of 10x Genomics by 1.0% in the first quarter. Vanguard Group Inc. now owns 9,101,536 shares of the company’s stock worth $341,581,000 after acquiring an additional 90,204 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in 10x Genomics by 264.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 319,287 shares of the company’s stock valued at $11,983,000 after purchasing an additional 231,697 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in 10x Genomics by 604.9% during the 2nd quarter. SG Americas Securities LLC now owns 101,344 shares of the company’s stock valued at $1,971,000 after purchasing an additional 86,967 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Buying and Selling

In other 10x Genomics news, CEO Serge Saxonov sold 6,749 shares of 10x Genomics stock in a transaction 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 owns 882,467 shares of the company’s stock, valued at approximately $19,881,981.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 10x Genomics news, CEO Serge Saxonov sold 6,749 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $152,054.97. Following the transaction, the chief executive officer now owns 882,467 shares of the company’s stock, valued at approximately $19,881,981.51. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Justin J. Mcanear sold 2,961 shares of the business’s stock in a transaction dated 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 owns 143,242 shares in the company, valued at $3,227,242.26. The disclosure for this sale can be found here. Insiders sold 14,061 shares of company stock valued at $316,794 in the last three months. 10.03% of the stock is currently owned by corporate insiders.

10x Genomics Stock Performance

TXG stock opened at $22.08 on Thursday. The stock’s fifty day moving average is $20.78 and its two-hundred day moving average is $25.52. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of -9.90 and a beta of 1.85. 10x Genomics, Inc. has a 1 year low of $15.28 and a 1 year high of $57.90.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.15. 10x Genomics had a negative net margin of 37.90% and a negative return on equity of 28.23%. The firm had revenue of $153.10 million during the quarter, compared to analyst estimates of $150.90 million. As a group, analysts predict that 10x Genomics, Inc. will post -1.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TXG shares. Leerink Partners assumed coverage on 10x Genomics in a research note on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 target price for the company. JPMorgan Chase & Co. lowered shares of 10x Genomics from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $40.00 to $20.00 in a report on Thursday, July 18th. Bank of America cut their target price on shares of 10x Genomics from $36.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, July 18th. Deutsche Bank Aktiengesellschaft downgraded 10x Genomics from a “buy” rating to a “hold” rating and decreased their price target for the stock from $55.00 to $25.00 in a research note on Wednesday, July 10th. Finally, Barclays cut their price objective on 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 given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.60.

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.