Entropy Technologies LP Takes $993,000 Position in 10x Genomics, Inc. (NASDAQ:TXG)

Entropy Technologies LP bought a new position in shares of 10x Genomics, Inc. (NASDAQ:TXG) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 26,472 shares of the company’s stock, valued at approximately $993,000.

Other large investors also recently made changes to their positions in the company. SVB Wealth LLC increased its position in shares of 10x Genomics by 92.1% during the 4th quarter. SVB Wealth LLC now owns 1,446,552 shares of the company’s stock valued at $80,949,000 after purchasing an additional 693,422 shares during the period. Venrock Management VI LLC bought a new position in 10x Genomics during the fourth quarter valued at about $117,894,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of 10x Genomics by 32.9% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,283,530 shares of the company’s stock valued at $127,786,000 after purchasing an additional 565,059 shares during the period. Bleakley Financial Group LLC bought a new stake in 10x Genomics during the fourth quarter valued at about $234,000. Finally, ARK Investment Management LLC increased its position in 10x Genomics by 35.0% during the fourth quarter. ARK Investment Management LLC now owns 4,041,287 shares of the company’s stock worth $226,150,000 after acquiring an additional 1,047,827 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Transactions at 10x Genomics

In other news, CEO Serge Saxonov sold 4,877 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total value of $118,511.10. Following the completion of the sale, the chief executive officer now directly owns 889,641 shares in the company, valued at approximately $21,618,276.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Serge Saxonov sold 4,877 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total transaction of $118,511.10. Following the completion of the sale, the chief executive officer now directly owns 889,641 shares in the company, valued at approximately $21,618,276.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Justin J. Mcanear sold 2,936 shares of 10x Genomics stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $71,344.80. Following the completion of the transaction, the chief financial officer now directly owns 146,203 shares in the company, valued at $3,552,732.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,900 shares of company stock valued at $289,170. Insiders own 10.03% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on TXG. The Goldman Sachs Group dropped their price target on shares of 10x Genomics from $26.00 to $16.00 and set a “sell” rating for the company in a research report on Tuesday, July 9th. Jefferies Financial Group began coverage on 10x Genomics in a research report on Monday, June 3rd. They issued a “hold” rating and a $24.00 price objective on the stock. Stifel Nicolaus dropped their price target on shares of 10x Genomics from $53.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday. UBS Group reduced their target price on 10x Genomics from $52.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, TD Cowen cut 10x Genomics from a “buy” rating to a “hold” rating and cut their price objective for the company from $57.00 to $32.00 in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, 10x Genomics currently has an average rating of “Hold” and a consensus target price of $39.77.

10x Genomics Stock Performance

Shares of 10x Genomics stock traded down $0.16 during mid-day trading on Wednesday, hitting $19.84. 2,190,333 shares of the stock were exchanged, compared to its average volume of 1,622,605. 10x Genomics, Inc. has a 12 month low of $15.28 and a 12 month high of $63.57. The company has a market capitalization of $2.36 billion, a P/E ratio of -8.90 and a beta of 1.84. The company has a 50-day simple moving average of $21.28 and a 200 day simple moving average of $33.56.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings data on Tuesday, April 30th. The company reported ($0.50) EPS for the quarter, hitting the consensus estimate of ($0.50). 10x Genomics had a negative net margin of 42.20% and a negative return on equity of 30.85%. The company had revenue of $141.01 million during the quarter, compared to the consensus estimate of $142.24 million. During the same period last year, the firm earned ($0.44) EPS. 10x Genomics’s revenue for the quarter was up 5.0% on a year-over-year basis. Analysts predict that 10x Genomics, Inc. will post -1.52 EPS for the current year.

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.