ARK Investment Management LLC Acquires 1,047,827 Shares of 10x Genomics, Inc. (NASDAQ:TXG)

ARK Investment Management LLC boosted its holdings in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 35.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,041,287 shares of the company’s stock after acquiring an additional 1,047,827 shares during the quarter. 10x Genomics makes up approximately 1.3% of ARK Investment Management LLC’s portfolio, making the stock its 22nd largest holding. ARK Investment Management LLC owned 3.42% of 10x Genomics worth $226,150,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. bought a new position in shares of 10x Genomics in the fourth quarter valued at approximately $984,000. Handelsinvest Investeringsforvaltning bought a new position in shares of 10x Genomics in the fourth quarter valued at approximately $339,000. Vanguard Group Inc. raised its position in shares of 10x Genomics by 4.2% in the third quarter. Vanguard Group Inc. now owns 8,903,517 shares of the company’s stock valued at $367,270,000 after purchasing an additional 354,921 shares during the period. Citigroup Inc. raised its position in shares of 10x Genomics by 94.4% in the third quarter. Citigroup Inc. now owns 10,951 shares of the company’s stock valued at $452,000 after purchasing an additional 5,317 shares during the period. Finally, Comerica Bank bought a new position in shares of 10x Genomics in the third quarter valued at approximately $64,000. Institutional investors own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

TXG has been the topic of several research analyst reports. Barclays raised their price objective on shares of 10x Genomics from $45.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Bank of America upgraded shares of 10x Genomics from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $36.00 to $54.00 in a research note on Tuesday, December 12th. Wolfe Research assumed coverage on shares of 10x Genomics in a research note on Wednesday, December 13th. They set an “outperform” rating and a $55.00 price target on the stock. Stifel Nicolaus decreased their price target on shares of 10x Genomics from $68.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Finally, Guggenheim assumed coverage on shares of 10x Genomics in a research note on Thursday, December 14th. They set a “buy” rating and a $60.00 price target on the stock. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.44.

Insider Activity at 10x Genomics

In related news, CEO Serge Saxonov sold 4,660 shares of 10x Genomics stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $44.00, for a total value of $205,040.00. Following the completion of the transaction, the chief executive officer now directly owns 842,900 shares of the company’s stock, valued at $37,087,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Serge Saxonov sold 4,660 shares of 10x Genomics stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $44.00, for a total value of $205,040.00. Following the completion of the transaction, the chief executive officer now directly owns 842,900 shares of the company’s stock, valued at $37,087,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Justin J. Mcanear sold 1,865 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $46.34, for a total value of $86,424.10. Following the sale, the chief financial officer now directly owns 95,240 shares of the company’s stock, valued at $4,413,421.60. The disclosure for this sale can be found here. Insiders sold 16,959 shares of company stock valued at $773,766 over the last ninety days. 10.65% of the stock is owned by insiders.

10x Genomics Stock Performance

Shares of NASDAQ:TXG opened at $36.89 on Thursday. 10x Genomics, Inc. has a 52 week low of $33.79 and a 52 week high of $63.57. The company’s fifty day moving average is $42.97 and its 200-day moving average is $44.11.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.05). 10x Genomics had a negative net margin of 41.17% and a negative return on equity of 28.82%. The business had revenue of $183.98 million during the quarter, compared to the consensus estimate of $182.73 million. During the same period in the prior year, the firm earned ($0.15) earnings per share. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. As a group, equities research analysts anticipate that 10x Genomics, Inc. will post -1.47 earnings per share for the current fiscal year.

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.