Pier 88 Investment Partners LLC Cuts Holdings in 10x Genomics, Inc. (NASDAQ:TXG)

Pier 88 Investment Partners LLC trimmed its holdings in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 18.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,480 shares of the company’s stock after selling 2,300 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in 10x Genomics were worth $150,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of TXG. Signaturefd LLC boosted its holdings in 10x Genomics by 424.6% in the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock worth $26,000 after buying an additional 1,452 shares during the period. Blue Trust Inc. boosted its position in shares of 10x Genomics by 73.1% during the fourth quarter. Blue Trust Inc. now owns 3,075 shares of the company’s stock worth $44,000 after acquiring an additional 1,299 shares during the last quarter. Sound Income Strategies LLC grew its stake in 10x Genomics by 65.2% during the fourth quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock valued at $48,000 after acquiring an additional 1,330 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in 10x Genomics in the 4th quarter valued at $52,000. Finally, SRS Capital Advisors Inc. increased its holdings in shares of 10x Genomics by 817.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 4,853 shares of the company’s stock worth $70,000 after purchasing an additional 4,324 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

10x Genomics Price Performance

Shares of TXG opened at $9.16 on Monday. The company’s fifty day moving average price is $12.12 and its 200-day moving average price is $15.04. The firm has a market capitalization of $1.12 billion, a PE ratio of -6.03 and a beta of 1.93. 10x Genomics, Inc. has a 1-year low of $8.92 and a 1-year high of $37.86.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Wednesday, February 12th. The company reported ($0.40) 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%. As a group, research analysts anticipate that 10x Genomics, Inc. will post -1.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TXG shares. Citigroup decreased their price target on shares of 10x Genomics from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Barclays reduced their price target on 10x Genomics from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of 10x Genomics in a research note on Saturday, March 22nd. Leerink Partners downgraded shares of 10x Genomics from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $25.00 to $12.00 in a research note on Thursday, February 13th. Finally, Leerink Partnrs downgraded shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $20.21.

Insiders Place Their Bets

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

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.