Goldman Sachs Group Inc. Grows Stock Position in 10x Genomics, Inc. (NASDAQ:TXG)

Goldman Sachs Group Inc. raised its stake in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 0.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 372,873 shares of the company’s stock after buying an additional 1,815 shares during the period. Goldman Sachs Group Inc.’s holdings in 10x Genomics were worth $20,866,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of 10x Genomics by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 8,903,517 shares of the company’s stock valued at $367,270,000 after acquiring an additional 354,921 shares during the period. ARK Investment Management LLC grew its position 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 during the period. Brown Capital Management LLC grew its position in shares of 10x Genomics by 14.5% during the 4th quarter. Brown Capital Management LLC now owns 3,527,297 shares of the company’s stock valued at $197,388,000 after acquiring an additional 446,192 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of 10x Genomics by 32.9% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,283,530 shares of the company’s stock valued at $127,786,000 after acquiring an additional 565,059 shares during the period. Finally, Nikko Asset Management Americas Inc. grew its position in shares of 10x Genomics by 32.9% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 2,283,530 shares of the company’s stock valued at $127,764,000 after acquiring an additional 565,059 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analysts Set New Price Targets

TXG has been the topic of a number of analyst reports. The Goldman Sachs Group dropped their target price on 10x Genomics from $30.00 to $26.00 and set a “sell” rating on the stock in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft dropped their target price on 10x Genomics from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Guggenheim reiterated a “neutral” rating on shares of 10x Genomics in a report on Tuesday. Barclays lowered their price objective on 10x Genomics from $55.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. Finally, UBS Group lowered their price objective on 10x Genomics from $52.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $46.62.

10x Genomics Price Performance

Shares of 10x Genomics stock opened at $19.59 on Wednesday. The stock has a market cap of $2.33 billion, a P/E ratio of -8.78 and a beta of 1.87. The stock’s 50 day simple moving average is $24.16 and its 200-day simple moving average is $37.47. 10x Genomics, Inc. has a 1-year low of $19.20 and a 1-year high of $63.57.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Tuesday, April 30th. The company reported ($0.50) earnings per share for the quarter, hitting the consensus estimate of ($0.50). The business had revenue of $141.01 million for the quarter, compared to analysts’ expectations of $142.24 million. 10x Genomics had a negative return on equity of 30.85% and a negative net margin of 42.20%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.44) EPS. As a group, research analysts expect that 10x Genomics, Inc. will post -1.53 EPS for the current fiscal year.

Insider Activity

In other news, CEO Serge Saxonov sold 4,877 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 transaction of $118,511.10. Following the sale, the chief executive officer now owns 889,641 shares of the company’s stock, valued at approximately $21,618,276.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Serge Saxonov sold 4,877 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 transaction of $118,511.10. Following the sale, the chief executive officer now owns 889,641 shares of the company’s stock, valued at approximately $21,618,276.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Justin J. Mcanear sold 2,936 shares of the business’s 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 $71,344.80. Following the completion of the sale, the chief financial officer now directly owns 146,203 shares in the company, valued at approximately $3,552,732.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,900 shares of company stock valued at $289,170. 10.03% of the stock is currently owned by company insiders.

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.