Primecap Management Co. CA Decreases Stake in 10x Genomics, Inc. (NASDAQ:TXG)

Primecap Management Co. CA cut its holdings in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 56.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 127,600 shares of the company’s stock after selling 167,800 shares during the quarter. Primecap Management Co. CA’s holdings in 10x Genomics were worth $1,832,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TXG. KBC Group NV boosted its stake in 10x Genomics by 38.8% during the third quarter. KBC Group NV now owns 3,225 shares of the company’s stock worth $73,000 after buying an additional 902 shares during the last quarter. Commerce Bank raised its holdings in shares of 10x Genomics by 17.1% during the 3rd quarter. Commerce Bank now owns 13,296 shares of the company’s stock worth $300,000 after acquiring an additional 1,946 shares during the period. First Horizon Advisors Inc. boosted its position in shares of 10x Genomics by 53.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 2,910 shares of the company’s stock valued at $66,000 after acquiring an additional 1,012 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of 10x Genomics by 42.3% in the third quarter. Cerity Partners LLC now owns 36,367 shares of the company’s stock valued at $821,000 after purchasing an additional 10,815 shares during the period. Finally, Algert Global LLC increased its position in 10x Genomics by 214.5% during the third quarter. Algert Global LLC now owns 370,958 shares of the company’s stock worth $8,376,000 after purchasing an additional 252,994 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

10x Genomics Trading Down 2.1 %

Shares of NASDAQ TXG opened at $10.29 on Thursday. 10x Genomics, Inc. has a 12-month low of $9.27 and a 12-month high of $39.30. The stock has a market cap of $1.26 billion, a P/E ratio of -6.77 and a beta of 1.93. The business’s fifty day simple moving average is $12.90 and its 200-day simple moving average is $15.71.

10x Genomics (NASDAQ:TXG) last posted 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%. On average, equities analysts forecast that 10x Genomics, Inc. will post -1.43 EPS for the current fiscal year.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several research firms have recently weighed in on TXG. UBS Group dropped 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 lowered their price objective on 10x Genomics from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Leerink Partners downgraded 10x Genomics from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $25.00 to $12.00 in a research report on Thursday, February 13th. JPMorgan Chase & Co. lowered their price target on 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Finally, Barclays reduced their price objective on shares of 10x Genomics from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. 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.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.21.

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.