State of New Jersey Common Pension Fund D Has $1.64 Million Stock Position in 10x Genomics, Inc. (NASDAQ:TXG)

State of New Jersey Common Pension Fund D grew its stake in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 41.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 84,118 shares of the company’s stock after purchasing an additional 24,761 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in 10x Genomics were worth $1,636,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. ARK Investment Management LLC lifted its position in shares of 10x Genomics by 48.2% during the 2nd quarter. ARK Investment Management LLC now owns 9,313,763 shares of the company’s stock valued at $181,153,000 after acquiring an additional 3,029,951 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in 10x Genomics by 69.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,143,067 shares of the company’s stock valued at $119,483,000 after purchasing an additional 2,521,289 shares in the last quarter. Venrock Management VI LLC bought a new stake in 10x Genomics during the fourth quarter worth about $117,894,000. Nikko Asset Management Americas Inc. grew its stake in 10x Genomics by 58.6% during the first quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock worth $135,780,000 after buying an additional 1,338,248 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of 10x Genomics in the 4th quarter valued at approximately $36,262,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

10x Genomics Stock Performance

10x Genomics stock opened at $21.25 on Thursday. 10x Genomics, Inc. has a one year low of $15.28 and a one year high of $57.90. The stock has a fifty day moving average of $21.20 and a 200 day moving average of $24.83. The stock has a market cap of $2.53 billion, a PE ratio of -9.53 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last released its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.15. 10x Genomics had a negative return on equity of 28.23% and a negative net margin of 37.90%. The company had revenue of $153.10 million for the quarter, compared to the consensus estimate of $150.90 million. As a group, sell-side analysts predict that 10x Genomics, Inc. will post -1.32 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Benjamin J. Hindson sold 4,351 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $98,028.03. Following the sale, the insider now directly owns 345,704 shares of the company’s stock, valued at approximately $7,788,711.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Serge Saxonov sold 6,749 shares of 10x Genomics stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $152,054.97. Following the completion of the sale, the chief executive officer now directly owns 882,467 shares in the company, valued at $19,881,981.51. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Benjamin J. Hindson sold 4,351 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $98,028.03. Following the completion of the transaction, the insider now owns 345,704 shares in the company, valued at $7,788,711.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,061 shares of company stock worth $316,794. 10.03% of the stock is owned by insiders.

Analysts Set New Price Targets

TXG has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft cut 10x Genomics from a “buy” rating to a “hold” rating and lowered their price target for the stock from $55.00 to $25.00 in a report on Wednesday, July 10th. The Goldman Sachs Group lowered their target price on 10x Genomics from $26.00 to $16.00 and set a “sell” rating for the company in a research note on Tuesday, July 9th. Stephens restated an “overweight” rating and issued a $30.00 price target on shares of 10x Genomics in a research note on Wednesday, September 4th. Canaccord Genuity Group decreased their price target on shares of 10x Genomics from $50.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, July 23rd. Finally, Barclays dropped their price objective on shares of 10x Genomics from $36.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, June 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, 10x Genomics has an average rating of “Moderate Buy” and a consensus target price of $31.60.

About 10x Genomics

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.