IQ EQ FUND MANAGEMENT IRELAND Ltd Increases Stock Holdings in 10x Genomics, Inc. (NASDAQ:TXG)

IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in 10x Genomics, Inc. (NASDAQ:TXG) by 160.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,787 shares of the company’s stock after purchasing an additional 32,555 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in 10x Genomics were worth $758,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of 10x Genomics by 2.7% during the 3rd quarter. FMR LLC now owns 13,367,979 shares of the company’s stock valued at $301,849,000 after buying an additional 357,470 shares during the period. ARK Investment Management LLC grew its position in 10x Genomics by 11.1% during the fourth quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock valued at $171,517,000 after acquiring an additional 1,193,712 shares during the period. Assenagon Asset Management S.A. acquired a new stake in 10x Genomics during the fourth quarter worth about $26,308,000. Geode Capital Management LLC raised its holdings in shares of 10x Genomics by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company’s stock worth $41,009,000 after purchasing an additional 42,777 shares during the period. Finally, State Street Corp lifted its stake in shares of 10x Genomics by 7.1% in the 3rd quarter. State Street Corp now owns 1,750,643 shares of the company’s stock valued at $39,530,000 after purchasing an additional 116,534 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TXG has been the topic of several research reports. Citigroup cut their price target on shares of 10x Genomics from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Morgan Stanley reduced their target price on shares of 10x Genomics from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Canaccord Genuity Group lowered their price target on 10x Genomics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Stifel Nicolaus reduced their price objective on 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, UBS Group lowered their target price on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.21.

10x Genomics Price Performance

NASDAQ TXG opened at $9.16 on Friday. The company’s fifty day moving average price is $12.12 and its two-hundred day moving average price is $15.13. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -6.03 and a beta of 1.93. 10x Genomics, Inc. has a 12 month low of $8.92 and a 12 month high of $37.86.

10x Genomics (NASDAQ:TXG) last posted its quarterly 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 return on equity of 25.40% and a negative net margin of 29.90%. As a group, analysts anticipate that 10x Genomics, Inc. will post -1.43 EPS for the current year.

Insider Activity at 10x Genomics

In related news, CEO Serge Saxonov sold 5,092 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $56,368.44. Following the sale, the chief executive officer now owns 879,482 shares in the company, valued at $9,735,865.74. This represents a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alan Mateo bought 40,000 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was bought at an average price of $11.14 per share, with a total value of $445,600.00. Following the completion of the purchase, the director now owns 61,691 shares of the company’s stock, valued at $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. Corporate insiders own 10.03% of the company’s stock.

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.