ARK Investment Management LLC Increases Stake in 10x Genomics, Inc. (NASDAQ:TXG)

ARK Investment Management LLC boosted its stake in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 11.1% in the 4th quarter, Holdings Channel reports. The fund owned 11,944,057 shares of the company’s stock after buying an additional 1,193,712 shares during the period. 10x Genomics makes up 1.4% of ARK Investment Management LLC’s investment portfolio, making the stock its 21st largest position. ARK Investment Management LLC owned 0.10% of 10x Genomics worth $171,517,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TXG. Assenagon Asset Management S.A. purchased a new position in 10x Genomics during the fourth quarter valued at approximately $26,308,000. Point72 Asset Management L.P. acquired a new stake in 10x Genomics in the third quarter valued at approximately $27,778,000. FMR LLC grew its holdings in 10x Genomics by 2.7% in the third 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. JPMorgan Chase & Co. grew its holdings in 10x Genomics by 355.0% in the third quarter. JPMorgan Chase & Co. now owns 355,488 shares of the company’s stock valued at $8,027,000 after purchasing an additional 277,355 shares during the period. Finally, Algert Global LLC grew its holdings in 10x Genomics by 214.5% in the third quarter. Algert Global LLC now owns 370,958 shares of the company’s stock valued at $8,376,000 after purchasing an additional 252,994 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TXG has been the topic of several research analyst reports. Stifel Nicolaus dropped their price objective on 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of 10x Genomics in a report on Wednesday, February 19th. Leerink Partners lowered 10x Genomics from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $25.00 to $12.00 in a report on Thursday, February 13th. Canaccord Genuity Group dropped their price objective on 10x Genomics from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. dropped their price target on 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.57.

10x Genomics Stock Down 1.6 %

Shares of NASDAQ:TXG opened at $11.11 on Wednesday. The business has a fifty day moving average of $14.16 and a two-hundred day moving average of $16.95. The stock has a market cap of $1.36 billion, a P/E ratio of -7.31 and a beta of 1.85. 10x Genomics, Inc. has a 52-week low of $10.63 and a 52-week high of $48.42.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share (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 analysts anticipate that 10x Genomics, Inc. will post -1.43 earnings per share for the current year.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, Director Alan Mateo purchased 40,000 shares of the stock in a transaction dated Friday, February 21st. The stock was acquired at an average cost of $11.14 per share, for a total transaction of $445,600.00. Following the acquisition, the director now owns 61,691 shares in the company, valued at $687,237.74. This trade represents a 184.41 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 10.03% of the stock is owned by company insiders.

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.