Voloridge Investment Management LLC Acquires 171,161 Shares of 10x Genomics, Inc. (NASDAQ:TXG)

Voloridge Investment Management LLC boosted its holdings in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 12.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,585,965 shares of the company’s stock after buying an additional 171,161 shares during the quarter. Voloridge Investment Management LLC’s holdings in 10x Genomics were worth $22,774,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Entropy Technologies LP grew its position 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 buying an additional 27,844 shares during the period. SG Americas Securities LLC raised its stake in shares of 10x Genomics by 209.8% in the fourth quarter. SG Americas Securities LLC now owns 73,046 shares of the company’s stock worth $1,049,000 after buying an additional 49,468 shares during the period. Alberta Investment Management Corp bought a new position in shares of 10x Genomics in the fourth quarter worth about $3,206,000. China Universal Asset Management Co. Ltd. bought a new position in shares of 10x Genomics in the fourth quarter worth about $326,000. Finally, Barclays PLC raised its stake in shares of 10x Genomics by 11.7% in the third quarter. Barclays PLC now owns 602,536 shares of the company’s stock worth $13,605,000 after buying an additional 63,079 shares during the period. 84.68% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Serge Saxonov sold 5,092 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $11.07, for a total value of $56,368.44. Following the sale, the chief executive officer now owns 879,482 shares in the company, valued at approximately $9,735,865.74. The trade was a 0.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Benjamin J. Hindson sold 4,573 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $11.07, for a total transaction of $50,623.11. Following the completion of the sale, the insider now owns 335,324 shares in the company, valued at $3,712,036.68. This represents a 1.35% decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TXG shares. Leerink Partnrs downgraded 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. decreased their price objective on 10x Genomics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Canaccord Genuity Group lowered their target price on shares of 10x Genomics from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, May 12th. Stephens restated an “overweight” rating and set a $14.00 target price on shares of 10x Genomics in a research note on Thursday, May 15th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of 10x Genomics in a research note on Saturday, May 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $15.81.

10x Genomics Price Performance

TXG stock opened at $8.54 on Friday. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -5.62 and a beta of 1.94. The business has a 50 day simple moving average of $8.63 and a two-hundred day simple moving average of $12.15. 10x Genomics, Inc. has a 1-year low of $6.78 and a 1-year high of $24.76.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.09. The firm had revenue of $154.88 million during the quarter, compared to analyst estimates of $131.91 million. 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.50) earnings per share. Sell-side analysts anticipate that 10x Genomics, Inc. will post -1.43 EPS for the current fiscal year.

10x Genomics 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.