Pier 88 Investment Partners LLC Has $262,000 Stake in 10x Genomics, Inc. (NASDAQ:TXG)

Pier 88 Investment Partners LLC trimmed its position in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 51.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,690 shares of the company’s stock after selling 5,000 shares during the period. Pier 88 Investment Partners LLC’s holdings in 10x Genomics were worth $262,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of 10x Genomics by 56.4% during the third quarter. FMR LLC now owns 12,666,998 shares of the company’s stock worth $522,514,000 after purchasing an additional 4,565,400 shares during the period. ARK Investment Management LLC grew its holdings in shares of 10x Genomics by 35.0% during 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 in the last quarter. SVB Wealth LLC increased its stake in shares of 10x Genomics by 92.1% in the fourth quarter. SVB Wealth LLC now owns 1,446,552 shares of the company’s stock worth $80,949,000 after acquiring an additional 693,422 shares during the last quarter. Norges Bank purchased a new stake in shares of 10x Genomics during the fourth quarter worth $36,262,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in 10x Genomics by 32.9% during 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 purchasing an additional 565,059 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity at 10x Genomics

In other news, insider Benjamin J. Hindson sold 4,087 shares of 10x Genomics stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total transaction of $99,314.10. Following the sale, the insider now owns 350,055 shares of the company’s stock, valued at approximately $8,506,336.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Justin J. Mcanear sold 2,936 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total value of $71,344.80. Following the completion of the transaction, the chief financial officer now owns 146,203 shares of the company’s stock, valued at $3,552,732.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Benjamin J. Hindson sold 4,087 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total transaction of $99,314.10. Following the transaction, the insider now owns 350,055 shares of the company’s stock, valued at approximately $8,506,336.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,560 shares of company stock worth $494,210. Company insiders own 10.03% of the company’s stock.

10x Genomics Stock Down 1.6 %

NASDAQ TXG traded down $0.36 during trading on Friday, hitting $22.59. The company’s stock had a trading volume of 1,646,238 shares, compared to its average volume of 1,934,764. 10x Genomics, Inc. has a 52 week low of $22.50 and a 52 week high of $63.57. The firm has a market cap of $2.69 billion, a P/E ratio of -10.13 and a beta of 1.94. The firm has a 50 day moving average price of $30.74 and a 200 day moving average price of $40.80.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Tuesday, April 30th. The company reported ($0.50) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.50). The business had revenue of $141.01 million for the quarter, compared to analyst estimates of $142.24 million. 10x Genomics had a negative net margin of 42.20% and a negative return on equity of 30.85%. 10x Genomics’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.44) earnings per share. On average, equities analysts expect that 10x Genomics, Inc. will post -1.55 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on TXG. Bank of America dropped their target price on 10x Genomics from $45.00 to $36.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. UBS Group reduced their target price on shares of 10x Genomics from $52.00 to $30.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. The Goldman Sachs Group dropped their price target on shares of 10x Genomics from $30.00 to $26.00 and set a “sell” rating on the stock in a research note on Wednesday, May 1st. Canaccord Genuity Group decreased their price objective on shares of 10x Genomics from $65.00 to $50.00 and set a “buy” rating for the company in a report on Monday, April 29th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on 10x Genomics from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, 10x Genomics presently has a consensus rating of “Moderate Buy” and an average 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.