Nikko Asset Management Americas Inc. Lowers Stock Position in 10x Genomics, Inc. (NASDAQ:TXG)

Nikko Asset Management Americas Inc. cut its stake in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 10.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,713,484 shares of the company’s stock after selling 659,728 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in 10x Genomics were worth $82,046,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Signaturefd LLC lifted its holdings in shares of 10x Genomics by 424.6% during the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock valued at $26,000 after acquiring an additional 1,452 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of 10x Genomics by 53.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 2,910 shares of the company’s stock valued at $66,000 after acquiring an additional 1,012 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of 10x Genomics by 73.1% during the 4th quarter. Blue Trust Inc. now owns 3,075 shares of the company’s stock valued at $44,000 after acquiring an additional 1,299 shares in the last quarter. KBC Group NV lifted its holdings in shares of 10x Genomics by 38.8% during the 3rd quarter. KBC Group NV now owns 3,225 shares of the company’s stock valued at $73,000 after acquiring an additional 902 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its holdings in shares of 10x Genomics by 65.2% during the 4th quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock valued at $48,000 after acquiring an additional 1,330 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at 10x Genomics

In related news, insider Benjamin J. Hindson sold 4,573 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $50,623.11. Following the transaction, the insider now owns 335,324 shares in the company, valued at $3,712,036.68. This trade represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan Mateo acquired 40,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were bought at an average price of $11.14 per share, for a total transaction of $445,600.00. Following the purchase, the director now directly owns 61,691 shares of the company’s stock, valued at approximately $687,237.74. This trade represents 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.

10x Genomics Trading Up 4.7 %

NASDAQ TXG opened at $10.34 on Monday. The company has a 50-day moving average price of $13.22 and a two-hundred day moving average price of $15.92. 10x Genomics, Inc. has a 52 week low of $9.27 and a 52 week high of $39.30. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -6.80 and a beta of 1.93.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) 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%. As a group, equities research analysts expect that 10x Genomics, Inc. will post -1.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Leerink Partnrs lowered shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 13th. Leerink Partners lowered shares of 10x Genomics from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $25.00 to $12.00 in a report on Thursday, February 13th. Barclays cut their price objective on shares of 10x Genomics from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. JPMorgan Chase & Co. cut their price objective on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Finally, UBS Group cut their price objective on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.21.

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.