522,609 Shares in 10x Genomics, Inc. (NASDAQ:TXG) Bought by SVB Wealth LLC

SVB Wealth LLC purchased a new position in shares of 10x Genomics, Inc. (NASDAQ:TXG) during the fourth quarter, Holdings Channel.com reports. The fund purchased 522,609 shares of the company’s stock, valued at approximately $7,505,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in 10x Genomics by 355.0% during 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 in the last quarter. Entropy Technologies LP lifted its holdings in 10x Genomics by 285.6% during the fourth quarter. Entropy Technologies LP now owns 37,595 shares of the company’s stock valued at $540,000 after purchasing an additional 27,844 shares in the last quarter. Geode Capital Management LLC lifted its holdings in 10x Genomics by 2.4% during the third 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 in the last quarter. SG Americas Securities LLC lifted its holdings in 10x Genomics by 209.8% during the fourth quarter. SG Americas Securities LLC now owns 73,046 shares of the company’s stock valued at $1,049,000 after purchasing an additional 49,468 shares in the last quarter. Finally, Alberta Investment Management Corp purchased a new position in 10x Genomics during the fourth quarter valued at $3,206,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 10x Genomics news, CEO Serge Saxonov sold 5,092 shares of 10x Genomics stock in a transaction dated 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 sale, the chief executive officer now directly owns 879,482 shares in the company, valued at $9,735,865.74. This trade represents a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan Mateo purchased 40,000 shares of the company’s stock in a transaction on Friday, February 21st. The shares were bought at an average price of $11.14 per share, with a total value of $445,600.00. Following the completion of the transaction, the director now owns 61,691 shares of the company’s stock, valued at approximately $687,237.74. The trade was a 184.41 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 10.03% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on TXG shares. Stifel Nicolaus decreased their price objective on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Canaccord Genuity Group decreased their price objective on shares of 10x Genomics from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Leerink Partnrs downgraded shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 13th. UBS Group reduced their target price on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of 10x Genomics in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, 10x Genomics currently has an average rating of “Hold” and a consensus target price of $20.57.

10x Genomics Trading Down 0.8 %

10x Genomics stock opened at $10.69 on Friday. 10x Genomics, Inc. has a 12-month low of $10.40 and a 12-month high of $48.42. The stock has a market cap of $1.31 billion, a P/E ratio of -7.03 and a beta of 1.85. The company has a 50-day moving average price of $14.00 and a 200 day moving average price of $16.81.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings data 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 return on equity of 25.40% and a negative net margin of 29.90%. As a group, analysts forecast that 10x Genomics, Inc. will post -1.43 EPS for the current 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.