Two Sigma Investments LP Acquires 982,203 Shares of 10x Genomics, Inc. (NASDAQ:TXG)

Two Sigma Investments LP increased its stake in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 291.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,319,487 shares of the company’s stock after acquiring an additional 982,203 shares during the period. Two Sigma Investments LP’s holdings in 10x Genomics were worth $18,948,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC lifted its stake in 10x Genomics by 0.6% in the fourth quarter. FMR LLC now owns 13,454,434 shares of the company’s stock valued at $193,206,000 after acquiring an additional 86,455 shares during the last quarter. ARK Investment Management LLC raised its holdings in shares of 10x Genomics by 11.1% in the 4th quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock valued at $171,517,000 after purchasing an additional 1,193,712 shares during the period. RA Capital Management L.P. acquired a new stake in 10x Genomics in the 4th quarter valued at about $47,092,000. D. E. Shaw & Co. Inc. bought a new position in 10x Genomics during the fourth quarter worth about $17,499,000. Finally, Barclays PLC grew its holdings in 10x Genomics by 31.3% during the fourth quarter. Barclays PLC now owns 790,957 shares of the company’s stock worth $11,357,000 after purchasing an additional 188,421 shares during the period. Institutional investors own 84.68% of the company’s stock.

Insider Activity

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

10x Genomics Stock Performance

TXG stock opened at $8.54 on Friday. 10x Genomics, Inc. has a 52 week low of $6.78 and a 52 week high of $24.76. The company has a market capitalization of $1.04 billion, a PE ratio of -5.62 and a beta of 1.94. The company’s 50-day simple moving average is $8.63 and its 200 day simple moving average is $12.15.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TXG shares. Morgan Stanley cut their price objective on 10x Genomics from $26.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday. Leerink Partnrs cut 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. reduced their price objective on shares of 10x Genomics from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, May 9th. Stephens reiterated an “overweight” rating and issued a $14.00 price objective on shares of 10x Genomics in a report on Thursday, May 15th. Finally, Stifel Nicolaus cut their target price on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $15.81.

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.