Amundi Reduces Position in 10x Genomics, Inc. (NASDAQ:TXG)

Amundi trimmed its stake in 10x Genomics, Inc. (NASDAQ:TXG) by 98.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,988 shares of the company’s stock after selling 98,904 shares during the period. Amundi’s holdings in 10x Genomics were worth $31,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. grew its position in shares of 10x Genomics by 73.1% in the 4th quarter. Blue Trust Inc. now owns 3,075 shares of the company’s stock valued at $44,000 after buying an additional 1,299 shares during the last quarter. Sound Income Strategies LLC grew its position in shares of 10x Genomics by 65.2% in the 4th quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock valued at $48,000 after buying an additional 1,330 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of 10x Genomics in the 4th quarter valued at $52,000. First Horizon Advisors Inc. grew its position in shares of 10x Genomics by 53.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,910 shares of the company’s stock valued at $66,000 after buying an additional 1,012 shares during the last quarter. Finally, SRS Capital Advisors Inc. grew its position in shares of 10x Genomics by 817.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 4,853 shares of the company’s stock valued at $70,000 after buying an additional 4,324 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

10x Genomics Stock Performance

TXG stock opened at $10.39 on Friday. The company has a fifty day moving average of $12.68 and a 200-day moving average of $15.53. The stock has a market capitalization of $1.27 billion, a PE ratio of -6.84 and a beta of 1.93. 10x Genomics, Inc. has a one year low of $9.27 and a one year high of $38.49.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.08). 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. Equities analysts forecast that 10x Genomics, Inc. will post -1.43 earnings per share for the current fiscal year.

Insider Activity

In other 10x Genomics news, CEO Serge Saxonov sold 5,092 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $56,368.44. Following the completion of the transaction, the chief executive officer now directly owns 879,482 shares in the company, valued at approximately $9,735,865.74. This trade represents a 0.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alan Mateo bought 40,000 shares of the company’s stock in a transaction on Friday, February 21st. The shares were acquired at an average price of $11.14 per share, with a total value of $445,600.00. Following the completion of the acquisition, the director now directly owns 61,691 shares in the company, valued at $687,237.74. This represents a 184.41 % increase in their position. The disclosure for this purchase can be found here. Insiders own 10.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on TXG shares. Stifel Nicolaus dropped their target price on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of 10x Genomics in a research note on Friday, March 7th. UBS Group decreased their price target on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Citigroup decreased their price target on shares of 10x Genomics from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Finally, Leerink Partners cut shares of 10x Genomics from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $25.00 to $12.00 in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $20.21.

10x Genomics Company 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.