IQ EQ FUND MANAGEMENT IRELAND Ltd Takes $216,000 Position in 10x Genomics, Inc. (NASDAQ:TXG)

IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of 10x Genomics, Inc. (NASDAQ:TXG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 11,081 shares of the company’s stock, valued at approximately $216,000.

A number of other hedge funds also recently made changes to their positions in TXG. ARK Investment Management LLC raised its holdings in shares of 10x Genomics by 48.2% during the second quarter. ARK Investment Management LLC now owns 9,313,763 shares of the company’s stock valued at $181,153,000 after buying an additional 3,029,951 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of 10x Genomics by 69.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,143,067 shares of the company’s stock valued at $119,483,000 after acquiring an additional 2,521,289 shares during the period. Venrock Management VI LLC acquired a new position in shares of 10x Genomics during the fourth quarter valued at approximately $117,894,000. Nikko Asset Management Americas Inc. increased its stake in shares of 10x Genomics by 58.6% during the first quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock valued at $135,780,000 after acquiring an additional 1,338,248 shares during the period. Finally, Norges Bank acquired a new position in shares of 10x Genomics during the fourth quarter valued at approximately $36,262,000. Institutional investors own 84.68% of the company’s stock.

Insiders Place Their Bets

In other 10x Genomics news, insider Benjamin J. Hindson sold 4,351 shares of 10x Genomics stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $98,028.03. Following the completion of the sale, the insider now owns 345,704 shares of the company’s stock, valued at approximately $7,788,711.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other 10x Genomics news, CEO Serge Saxonov sold 6,749 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $152,054.97. Following the completion of the transaction, the chief executive officer now owns 882,467 shares of the company’s stock, valued at approximately $19,881,981.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Benjamin J. Hindson sold 4,351 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $98,028.03. Following the transaction, the insider now directly owns 345,704 shares of the company’s stock, valued at approximately $7,788,711.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,061 shares of company stock worth $316,794. Corporate insiders own 10.03% of the company’s stock.

10x Genomics Price Performance

NASDAQ TXG traded up $0.41 on Friday, hitting $23.22. 1,076,035 shares of the stock were exchanged, compared to its average volume of 1,651,678. 10x Genomics, Inc. has a 52-week low of $15.28 and a 52-week high of $57.90. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of -10.23 and a beta of 1.84. The company’s 50-day moving average price is $19.80 and its two-hundred day moving average price is $28.06.

Analyst Ratings Changes

TXG has been the topic of a number of research analyst reports. UBS Group lowered their price objective on shares of 10x Genomics from $30.00 to $25.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. JPMorgan Chase & Co. lowered shares of 10x Genomics from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $40.00 to $20.00 in a research note on Thursday, July 18th. Canaccord Genuity Group decreased their price target on shares of 10x Genomics from $50.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, July 23rd. Morgan Stanley decreased their price target on shares of 10x Genomics from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. Finally, Bank of America decreased their price target on shares of 10x Genomics from $36.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $31.46.

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.