New York Life Investment Management LLC Acquires Shares of 11,193 10x Genomics, Inc. (NASDAQ:TXG)

New York Life Investment Management LLC bought a new position in shares of 10x Genomics, Inc. (NASDAQ:TXG) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 11,193 shares of the company’s stock, valued at approximately $626,000.

A number of other hedge funds also recently modified their holdings of the stock. FMR LLC increased its stake in 10x Genomics by 56.4% in the third quarter. FMR LLC now owns 12,666,998 shares of the company’s stock valued at $522,514,000 after acquiring an additional 4,565,400 shares during the last quarter. ARK Investment Management LLC increased its position in 10x Genomics by 35.0% in the 4th quarter. ARK Investment Management LLC now owns 4,041,287 shares of the company’s stock valued at $226,150,000 after acquiring an additional 1,047,827 shares during the period. SVB Wealth LLC lifted its holdings in 10x Genomics by 92.1% during the 4th quarter. SVB Wealth LLC now owns 1,446,552 shares of the company’s stock worth $80,949,000 after buying an additional 693,422 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of 10x Genomics by 32.9% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,283,530 shares of the company’s stock valued at $127,786,000 after buying an additional 565,059 shares during the period. Finally, Vanguard Group Inc. lifted its stake 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 worth $367,270,000 after acquiring an additional 354,921 shares during the period. Institutional investors own 84.68% of the company’s stock.

10x Genomics Stock Performance

TXG stock opened at $25.36 on Thursday. The business has a 50-day simple moving average of $35.02 and a two-hundred day simple moving average of $41.94. The company has a market capitalization of $3.02 billion, a P/E ratio of -11.37 and a beta of 1.94. 10x Genomics, Inc. has a 52-week low of $24.60 and a 52-week high of $63.57.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Tuesday, April 30th. The company reported ($0.50) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.50). 10x Genomics had a negative return on equity of 30.85% and a negative net margin of 42.20%. The business had revenue of $141.01 million during the quarter, compared to the consensus estimate of $142.24 million. During the same quarter in the prior year, the company posted ($0.44) earnings per share. 10x Genomics’s revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts forecast that 10x Genomics, Inc. will post -1.55 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Serge Saxonov sold 1,000 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $49.53, for a total transaction of $49,530.00. Following the transaction, the chief executive officer now directly owns 855,381 shares in the company, valued at $42,367,020.93. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Benjamin J. Hindson sold 2,613 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total value of $121,086.42. Following the transaction, the insider now directly owns 283,059 shares of the company’s stock, valued at approximately $13,116,954.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Serge Saxonov sold 1,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $49.53, for a total transaction of $49,530.00. Following the sale, the chief executive officer now owns 855,381 shares of the company’s stock, valued at approximately $42,367,020.93. The disclosure for this sale can be found here. Insiders sold a total of 12,959 shares of company stock worth $592,806 over the last quarter. Insiders own 10.65% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on TXG. The Goldman Sachs Group lowered their price target on shares of 10x Genomics from $30.00 to $26.00 and set a “sell” rating for the company in a report on Wednesday, May 1st. UBS Group dropped their price objective on 10x Genomics from $52.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Barclays dropped their price target on 10x Genomics from $55.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. Stifel Nicolaus reduced their price objective on shares of 10x Genomics from $63.00 to $53.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, TD Cowen downgraded shares of 10x Genomics from a “buy” rating to a “hold” rating and dropped their target price for the company from $57.00 to $32.00 in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.50.

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.