JPMorgan Chase & Co. Has $12.55 Million Stake in 10x Genomics $TXG

JPMorgan Chase & Co. raised its stake in shares of 10x Genomics (NASDAQ:TXG) by 777.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,073,865 shares of the company’s stock after purchasing an additional 951,495 shares during the period. JPMorgan Chase & Co.’s holdings in 10x Genomics were worth $12,553,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TXG. Allworth Financial LP raised its holdings in 10x Genomics by 150.4% in the 2nd quarter. Allworth Financial LP now owns 2,271 shares of the company’s stock worth $26,000 after acquiring an additional 1,364 shares during the period. True Wealth Design LLC lifted its position in shares of 10x Genomics by 1,552.5% during the 2nd quarter. True Wealth Design LLC now owns 3,586 shares of the company’s stock worth $42,000 after purchasing an additional 3,369 shares during the last quarter. Abich Financial Wealth Management LLC bought a new stake in 10x Genomics during the 3rd quarter valued at approximately $56,000. EverSource Wealth Advisors LLC increased its position in 10x Genomics by 203.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,490 shares of the company’s stock worth $87,000 after buying an additional 5,025 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of 10x Genomics by 73.8% during the second quarter. PNC Financial Services Group Inc. now owns 8,951 shares of the company’s stock worth $104,000 after buying an additional 3,801 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Benjamin J. Hindson sold 7,826 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $18.58, for a total value of $145,407.08. Following the completion of the sale, the insider owned 424,779 shares of the company’s stock, valued at $7,892,393.82. This trade represents a 1.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Adam Taich sold 8,968 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $18.58, for a total transaction of $166,625.44. Following the completion of the transaction, the chief financial officer owned 288,417 shares of the company’s stock, valued at $5,358,787.86. This trade represents a 3.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,426 shares of company stock valued at $490,995 over the last three months. 9.39% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Leerink Partners lowered their price objective on shares of 10x Genomics from $22.00 to $20.00 and set a “market perform” rating on the stock in a research note on Tuesday, January 27th. Wall Street Zen downgraded shares of 10x Genomics from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Stifel Nicolaus upped their target price on 10x Genomics from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Monday. Bank of America set a $21.00 price target on shares of 10x Genomics in a research report on Monday, January 12th. Finally, UBS Group lifted their price objective on 10x Genomics from $14.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, February 20th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.46.

10x Genomics Stock Performance

Shares of TXG stock opened at $21.64 on Friday. 10x Genomics has a 52 week low of $6.78 and a 52 week high of $23.56. The stock has a market capitalization of $2.76 billion, a PE ratio of -61.83 and a beta of 2.20. The stock’s fifty day moving average is $19.79 and its 200-day moving average is $16.31.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Thursday, February 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.06. 10x Genomics had a negative net margin of 6.77% and a negative return on equity of 6.89%. The business had revenue of $166.03 million for the quarter, compared to the consensus estimate of $160.35 million. During the same quarter in the prior year, the company earned ($0.40) EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. As a group, analysts forecast that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

About 10x Genomics

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.