Price T Rowe Associates Inc. MD Raises Holdings in 10x Genomics, Inc. (NASDAQ:TXG)

Price T Rowe Associates Inc. MD raised its holdings in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 17.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 3,657,227 shares of the company’s stock after buying an additional 553,053 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in 10x Genomics were worth $137,257,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Magnetar Financial LLC purchased a new stake in shares of 10x Genomics in the 1st quarter worth $3,388,000. Lazard Asset Management LLC lifted its stake in 10x Genomics by 23.1% in the first quarter. Lazard Asset Management LLC now owns 74,540 shares of the company’s stock worth $2,797,000 after acquiring an additional 13,972 shares during the period. Westwood Holdings Group Inc. purchased a new position in 10x Genomics during the 1st quarter valued at about $939,000. Advisors Asset Management Inc. raised its holdings in shares of 10x Genomics by 27.3% in the 1st quarter. Advisors Asset Management Inc. now owns 25,228 shares of the company’s stock valued at $947,000 after purchasing an additional 5,406 shares in the last quarter. Finally, Axxcess Wealth Management LLC bought a new position in shares of 10x Genomics during the first quarter valued at approximately $237,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at 10x Genomics

In other news, CFO Justin J. Mcanear sold 2,936 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $71,344.80. Following the completion of the sale, the chief financial officer now directly owns 146,203 shares in the company, valued at $3,552,732.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Benjamin J. Hindson sold 4,087 shares of 10x Genomics stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total value of $99,314.10. Following the completion of the sale, the insider now owns 350,055 shares in the company, valued at approximately $8,506,336.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Justin J. Mcanear sold 2,936 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $71,344.80. Following the transaction, the chief financial officer now owns 146,203 shares in the company, valued at $3,552,732.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,900 shares of company stock valued at $289,170. Corporate insiders own 10.03% of the company’s stock.

10x Genomics Stock Performance

Shares of TXG traded up $0.10 during mid-day trading on Monday, hitting $20.32. 425,487 shares of the company were exchanged, compared to its average volume of 1,653,721. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of -9.07 and a beta of 1.84. The company has a 50 day moving average of $20.21 and a 200-day moving average of $31.77. 10x Genomics, Inc. has a 1-year low of $15.28 and a 1-year high of $63.57.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Tuesday, April 30th. The company reported ($0.50) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.50). The company had revenue of $141.01 million for the quarter, compared to analyst estimates of $142.24 million. 10x Genomics had a negative return on equity of 30.85% and a negative net margin of 42.20%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.44) EPS. Research analysts anticipate that 10x Genomics, Inc. will post -1.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TXG has been the subject of several recent research reports. Guggenheim reissued a “neutral” rating on shares of 10x Genomics in a research report on Tuesday, June 25th. TD Cowen cut shares of 10x Genomics from a “buy” rating to a “hold” rating and lowered their price target for the company from $57.00 to $32.00 in a report on Wednesday, May 1st. Jefferies Financial Group upgraded shares of 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Monday, July 22nd. Canaccord Genuity Group lowered their target price on shares of 10x Genomics from $50.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, July 23rd. Finally, Bank of America reduced their price target on 10x Genomics from $36.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, 10x Genomics has a consensus rating of “Hold” and an average target price of $36.29.

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.