IQ EQ FUND MANAGEMENT IRELAND Ltd Buys 190,059 Shares of 10x Genomics $TXG

IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in shares of 10x Genomics (NASDAQ:TXG) by 65.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 479,328 shares of the company’s stock after buying an additional 190,059 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd owned approximately 0.39% of 10x Genomics worth $5,603,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in TXG. Royal Bank of Canada grew its position in 10x Genomics by 806.4% in the 1st quarter. Royal Bank of Canada now owns 182,836 shares of the company’s stock worth $1,597,000 after purchasing an additional 162,665 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of 10x Genomics by 163.5% in the first quarter. Goldman Sachs Group Inc. now owns 645,366 shares of the company’s stock worth $5,634,000 after acquiring an additional 400,430 shares during the period. Focus Partners Wealth purchased a new stake in 10x Genomics during the first quarter valued at $92,000. Venturi Wealth Management LLC bought a new position in 10x Genomics in the second quarter valued at about $208,000. Finally, Optas LLC bought a new position in 10x Genomics in the second quarter valued at about $151,000. 84.68% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Benjamin J. Hindson sold 8,283 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $19.00, for a total value of $157,377.00. Following the completion of the transaction, the insider owned 432,605 shares of the company’s stock, valued at $8,219,495. This represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Serge Saxonov sold 13,261 shares of 10x Genomics stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $19.00, for a total value of $251,959.00. Following the sale, the chief executive officer directly owned 1,021,556 shares in the company, valued at $19,409,564. This trade represents a 1.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 33,432 shares of company stock worth $635,208 over the last ninety days. Corporate insiders own 9.39% of the company’s stock.

10x Genomics Price Performance

TXG opened at $17.70 on Friday. The company has a 50 day simple moving average of $18.62 and a two-hundred day simple moving average of $15.39. The firm has a market cap of $2.24 billion, a P/E ratio of -28.55 and a beta of 2.24. 10x Genomics has a 1-year low of $6.78 and a 1-year high of $23.56.

10x Genomics (NASDAQ:TXG) last released its earnings results on Thursday, November 6th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.05. 10x Genomics had a negative net margin of 11.89% and a negative return on equity of 11.50%. The company had revenue of $149.00 million for the quarter, compared to analysts’ expectations of $142.50 million. During the same quarter in the previous year, the company earned ($0.30) EPS. 10x Genomics’s revenue for the quarter was down 1.7% on a year-over-year basis. Equities analysts anticipate that 10x Genomics will post -1.43 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TXG shares. Wall Street Zen lowered shares of 10x Genomics from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Canaccord Genuity Group boosted their target price on shares of 10x Genomics from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. Needham & Company LLC set a $21.00 target price on shares of 10x Genomics in a report on Monday, January 12th. UBS Group lifted their price target on shares of 10x Genomics from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. Finally, Piper Sandler boosted their price objective on shares of 10x Genomics from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $16.83.

10x Genomics Profile

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.