Jacobs Levy Equity Management Inc. Purchases Shares of 97,172 10x Genomics, Inc. (NASDAQ:TXG)

Jacobs Levy Equity Management Inc. purchased a new stake in shares of 10x Genomics, Inc. (NASDAQ:TXG) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 97,172 shares of the company’s stock, valued at approximately $3,647,000. Jacobs Levy Equity Management Inc. owned about 0.08% of 10x Genomics as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TXG. Venrock Management VI LLC purchased a new stake in 10x Genomics in the 4th quarter worth approximately $117,894,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in 10x Genomics by 58.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,621,778 shares of the company’s stock worth $135,925,000 after buying an additional 1,338,248 shares during the period. Nikko Asset Management Americas Inc. increased its stake in 10x Genomics by 58.6% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock worth $135,780,000 after buying an additional 1,338,248 shares in the last quarter. SVB Wealth LLC raised its holdings in 10x Genomics by 92.1% during the fourth quarter. SVB Wealth LLC now owns 1,446,552 shares of the company’s stock valued at $80,949,000 after acquiring an additional 693,422 shares during the period. Finally, Norges Bank bought a new stake in 10x Genomics during the fourth quarter valued at about $36,262,000. Institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TXG. JPMorgan Chase & Co. downgraded shares of 10x Genomics from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $40.00 to $20.00 in a report on Thursday, July 18th. Wolfe Research reiterated a “peer perform” rating on shares of 10x Genomics in a research report on Thursday, June 27th. The Goldman Sachs Group cut their price target on 10x Genomics from $26.00 to $16.00 and set a “sell” rating for the company in a report on Tuesday, July 9th. TD Cowen downgraded 10x Genomics from a “buy” rating to a “hold” rating and lowered their target price for the company from $57.00 to $32.00 in a research report on Wednesday, May 1st. Finally, Guggenheim reaffirmed a “neutral” rating on shares of 10x Genomics in a research note on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $36.29.

Insider Buying and Selling

In other news, insider Benjamin J. Hindson sold 4,087 shares of the firm’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 transaction of $99,314.10. Following the sale, the insider now owns 350,055 shares of the company’s stock, valued at approximately $8,506,336.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Benjamin J. Hindson sold 4,087 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total transaction of $99,314.10. Following the completion of the transaction, the insider now directly owns 350,055 shares of the company’s stock, valued at approximately $8,506,336.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Serge Saxonov sold 4,877 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $21,618,276.30. The disclosure for this sale can be found here. Insiders have sold a total of 11,900 shares of company stock valued at $289,170 over the last ninety days. Company insiders own 10.03% of the company’s stock.

10x Genomics Price Performance

TXG traded up $0.36 during trading on Wednesday, reaching $20.77. 386,633 shares of the company’s stock were exchanged, compared to its average volume of 1,649,701. The company’s fifty day simple moving average is $20.05 and its 200-day simple moving average is $31.39. The stock has a market capitalization of $2.48 billion, a P/E ratio of -9.10 and a beta of 1.84. 10x Genomics, Inc. has a 1 year low of $15.28 and a 1 year high of $63.57.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Tuesday, April 30th. The company reported ($0.50) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.50). The company had revenue of $141.01 million during the quarter, compared to the consensus estimate of $142.24 million. 10x Genomics had a negative net margin of 42.20% and a negative return on equity of 30.85%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.44) earnings per share. Equities analysts forecast that 10x Genomics, Inc. will post -1.53 EPS for the current year.

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.