Renaissance Technologies LLC Raises Stock Holdings in 10x Genomics, Inc. (NASDAQ:TXG)

Renaissance Technologies LLC increased its holdings in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 301.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 210,200 shares of the company’s stock after acquiring an additional 157,800 shares during the quarter. Renaissance Technologies LLC’s holdings in 10x Genomics were worth $4,088,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of TXG. Allspring Global Investments Holdings LLC grew its position in shares of 10x Genomics by 113.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock valued at $26,000 after acquiring an additional 371 shares during the period. First Horizon Advisors Inc. increased its position in 10x Genomics by 74.1% in the second quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock worth $37,000 after buying an additional 808 shares during the last quarter. Covestor Ltd raised its stake in shares of 10x Genomics by 501.7% in the first quarter. Covestor Ltd now owns 1,047 shares of the company’s stock valued at $39,000 after buying an additional 873 shares during the period. Headlands Technologies LLC purchased a new position in shares of 10x Genomics during the 1st quarter valued at $71,000. Finally, Federated Hermes Inc. purchased a new position in shares of 10x Genomics during the 2nd quarter valued at $136,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Leerink Partners started coverage on 10x Genomics in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price objective on the stock. Canaccord Genuity Group lowered their price target on shares of 10x Genomics from $50.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, July 23rd. UBS Group cut their price objective on shares of 10x Genomics from $30.00 to $25.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. The Goldman Sachs Group lowered their target price on shares of 10x Genomics from $26.00 to $16.00 and set a “sell” rating on the stock in a report on Tuesday, July 9th. Finally, Morgan Stanley cut their price target on 10x Genomics from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, 10x Genomics presently has an average rating of “Moderate Buy” and a consensus target price of $31.60.

10x Genomics Price Performance

Shares of NASDAQ:TXG opened at $22.67 on Friday. 10x Genomics, Inc. has a 1-year low of $15.28 and a 1-year high of $57.90. The company has a market capitalization of $2.73 billion, a P/E ratio of -10.17 and a beta of 1.85. The firm’s 50 day simple moving average is $21.43 and its two-hundred day simple moving average is $24.59.

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

Insider Buying and Selling at 10x Genomics

In related news, insider Benjamin J. Hindson sold 4,351 shares of the 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 completion of the transaction, the insider now directly owns 345,704 shares of the company’s stock, valued at $7,788,711.12. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Benjamin J. Hindson sold 4,351 shares of the 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 completion of the transaction, the insider now directly owns 345,704 shares in the company, valued at approximately $7,788,711.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Justin J. Mcanear sold 2,961 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $66,711.33. Following the completion of the sale, the chief financial officer now owns 143,242 shares of the company’s stock, valued at $3,227,242.26. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,061 shares of company stock worth $316,794. Insiders own 10.03% of the company’s stock.

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.