ARK Investment Management LLC Purchases 1,047,827 Shares of 10x Genomics, Inc. (NASDAQ:TXG)

ARK Investment Management LLC boosted its position in 10x Genomics, Inc. (NASDAQ:TXG) by 35.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,041,287 shares of the company’s stock after buying an additional 1,047,827 shares during the quarter. 10x Genomics comprises approximately 1.3% of ARK Investment Management LLC’s investment portfolio, making the stock its 22nd largest position. ARK Investment Management LLC’s holdings in 10x Genomics were worth $226,150,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in TXG. Raymond James & Associates increased its holdings in shares of 10x Genomics by 19.3% during the first quarter. Raymond James & Associates now owns 53,009 shares of the company’s stock valued at $4,032,000 after acquiring an additional 8,570 shares in the last quarter. US Bancorp DE increased its holdings in shares of 10x Genomics by 39.6% during the first quarter. US Bancorp DE now owns 9,711 shares of the company’s stock valued at $739,000 after acquiring an additional 2,753 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of 10x Genomics by 617.9% during the first quarter. PNC Financial Services Group Inc. now owns 2,046 shares of the company’s stock valued at $155,000 after acquiring an additional 1,761 shares in the last quarter. MetLife Investment Management LLC bought a new position in shares of 10x Genomics during the first quarter valued at $416,000. Finally, BlackRock Inc. increased its holdings in shares of 10x Genomics by 14.2% during the first quarter. BlackRock Inc. now owns 9,156,992 shares of the company’s stock valued at $696,572,000 after acquiring an additional 1,138,358 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TXG shares. Barclays raised their price target on 10x Genomics from $45.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Bank of America upgraded 10x Genomics from an “underperform” rating to a “neutral” rating and raised their price target for the company from $36.00 to $54.00 in a report on Tuesday, December 12th. Wolfe Research began coverage on 10x Genomics in a research report on Wednesday, December 13th. They set an “outperform” rating and a $55.00 price objective on the stock. Guggenheim began coverage on 10x Genomics in a research report on Thursday, December 14th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, Stifel Nicolaus dropped their price objective on 10x Genomics from $68.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, 10x Genomics currently has an average rating of “Moderate Buy” and an average target price of $62.44.

Insiders Place Their Bets

In other news, CEO Serge Saxonov sold 4,660 shares of 10x Genomics stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $44.00, for a total transaction of $205,040.00. Following the transaction, the chief executive officer now directly owns 842,900 shares of the company’s stock, valued at approximately $37,087,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Justin J. Mcanear sold 1,865 shares of 10x Genomics stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $46.34, for a total transaction of $86,424.10. Following the sale, the chief financial officer now owns 95,240 shares of the company’s stock, valued at approximately $4,413,421.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Serge Saxonov sold 4,660 shares of 10x Genomics stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $44.00, for a total value of $205,040.00. Following the sale, the chief executive officer now directly owns 842,900 shares in the company, valued at approximately $37,087,600. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,959 shares of company stock valued at $773,766. Insiders own 10.65% of the company’s stock.

10x Genomics Stock Up 1.8 %

10x Genomics stock opened at $36.89 on Thursday. 10x Genomics, Inc. has a one year low of $33.79 and a one year high of $63.57. The business’s fifty day moving average is $42.97 and its 200 day moving average is $44.11.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Thursday, February 15th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.05). The firm had revenue of $183.98 million during the quarter, compared to analysts’ expectations of $182.73 million. 10x Genomics had a negative return on equity of 28.82% and a negative net margin of 41.17%. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.15) earnings per share. As a group, research analysts anticipate that 10x Genomics, Inc. will post -1.47 EPS for the current 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.