Pier 88 Investment Partners LLC Purchases 5,900 Shares of 10x Genomics, Inc. (NASDAQ:TXG)

Pier 88 Investment Partners LLC increased its position in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 83.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,000 shares of the company’s stock after buying an additional 5,900 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in 10x Genomics were worth $253,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its position in 10x Genomics by 113.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock worth $26,000 after buying an additional 371 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in 10x Genomics by 74.1% during the second quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock worth $37,000 after acquiring an additional 808 shares in the last quarter. Covestor Ltd boosted its position in 10x Genomics by 501.7% during the first quarter. Covestor Ltd now owns 1,047 shares of the company’s stock valued at $39,000 after purchasing an additional 873 shares during the last quarter. Headlands Technologies LLC bought a new position in 10x Genomics in the first quarter valued at approximately $71,000. Finally, Van ECK Associates Corp grew its stake in 10x Genomics by 23.4% in the fourth quarter. Van ECK Associates Corp now owns 1,908 shares of the company’s stock valued at $107,000 after purchasing an additional 362 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

TXG has been the subject of several recent analyst reports. Leerink Partnrs raised 10x Genomics to a “strong-buy” rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. cut shares of 10x Genomics from an “overweight” rating to a “neutral” rating and cut their price target for the company from $40.00 to $20.00 in a research note on Thursday, July 18th. 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. Barclays cut their target price on shares of 10x Genomics from $36.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, June 28th. Finally, The Goldman Sachs Group lowered their price target on 10x Genomics from $26.00 to $16.00 and set a “sell” rating on the stock in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, 10x Genomics presently has a consensus rating of “Moderate Buy” and an average target price of $31.60.

Insider Activity

In other 10x Genomics news, CEO Serge Saxonov sold 6,749 shares of 10x Genomics stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $152,054.97. Following the completion of the transaction, the chief executive officer now directly owns 882,467 shares of the company’s stock, valued at approximately $19,881,981.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Benjamin J. Hindson sold 4,351 shares of the company’s stock in a transaction that occurred 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Serge Saxonov sold 6,749 shares of 10x Genomics stock in a transaction that occurred 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 directly owns 882,467 shares in the company, valued at $19,881,981.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,061 shares of company stock worth $316,794. Corporate insiders own 10.03% of the company’s stock.

10x Genomics Price Performance

TXG opened at $21.54 on Friday. The business has a fifty day simple moving average of $20.19 and a 200 day simple moving average of $26.87. 10x Genomics, Inc. has a 1 year low of $15.28 and a 1 year high of $57.90. The company has a market capitalization of $2.60 billion, a PE ratio of -9.66 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.15. 10x Genomics had a negative net margin of 37.90% and a negative return on equity of 28.23%. The business had revenue of $153.10 million for the quarter, compared to the consensus estimate of $150.90 million. Equities analysts anticipate that 10x Genomics, Inc. will post -1.35 earnings per share for the current fiscal 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.