JPMorgan Chase & Co. Raises Position in 10x Genomics $TXG

JPMorgan Chase & Co. grew its position in shares of 10x Genomics (NASDAQ:TXG) by 777.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,073,865 shares of the company’s stock after buying an additional 951,495 shares during the quarter. JPMorgan Chase & Co. owned 0.85% of 10x Genomics worth $12,553,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TXG. AQR Capital Management LLC raised its holdings in 10x Genomics by 241.3% in the 2nd quarter. AQR Capital Management LLC now owns 4,137,801 shares of the company’s stock worth $47,916,000 after acquiring an additional 2,925,372 shares during the last quarter. Millennium Management LLC boosted its stake in 10x Genomics by 84.7% during the 3rd quarter. Millennium Management LLC now owns 5,437,969 shares of the company’s stock valued at $63,570,000 after purchasing an additional 2,494,142 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of 10x Genomics by 126.6% in the 3rd quarter. Wellington Management Group LLP now owns 4,285,628 shares of the company’s stock worth $50,099,000 after purchasing an additional 2,394,355 shares in the last quarter. Quantinno Capital Management LP increased its holdings in shares of 10x Genomics by 207.2% in the 2nd quarter. Quantinno Capital Management LP now owns 2,233,526 shares of the company’s stock worth $25,864,000 after purchasing an additional 1,506,530 shares in the last quarter. Finally, Blue Water Life Science Advisors LP purchased a new position in shares of 10x Genomics in the second quarter worth $12,746,000. Institutional investors own 84.68% of the company’s stock.

10x Genomics Price Performance

Shares of TXG opened at $19.48 on Friday. The firm has a market capitalization of $2.49 billion, a P/E ratio of -55.66 and a beta of 2.20. 10x Genomics has a one year low of $6.78 and a one year high of $23.56. The business has a fifty day moving average of $20.00 and a 200 day moving average of $16.93.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Thursday, February 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.06. The business had revenue of $166.03 million for the quarter, compared to analysts’ expectations of $160.35 million. 10x Genomics had a negative return on equity of 6.89% and a negative net margin of 6.77%.The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the firm posted ($0.40) earnings per share. Analysts expect that 10x Genomics will post -1.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Barclays upped their price target on 10x Genomics from $17.00 to $22.00 and gave the company an “overweight” rating in a report on Monday, December 15th. Leerink Partners decreased their target price on 10x Genomics from $22.00 to $20.00 and set a “market perform” rating for the company in a research report on Tuesday, January 27th. Morgan Stanley restated an “equal weight” rating and set a $20.00 target price (up from $17.00) on shares of 10x Genomics in a research note on Monday, December 1st. UBS Group raised their price target on shares of 10x Genomics from $14.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, February 20th. Finally, Bank of America set a $21.00 price target on shares of 10x Genomics in a research note on Monday, January 12th. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $18.46.

Insider Transactions at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $19.13, for a total transaction of $191,300.00. Following the completion of the sale, the chief executive officer directly owned 1,177,273 shares of the company’s stock, valued at approximately $22,521,232.49. This represents a 0.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Benjamin J. Hindson sold 7,826 shares of the stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $18.58, for a total transaction of $145,407.08. Following the completion of the transaction, the insider owned 424,779 shares in the company, valued at $7,892,393.82. The trade was a 1.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 41,426 shares of company stock worth $779,895 in the last quarter. Company insiders own 9.39% of the company’s stock.

10x Genomics Profile

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.