Lancaster Investment Management Acquires Shares of 621,779 10x Genomics $TXG

Lancaster Investment Management bought a new stake in 10x Genomics (NASDAQ:TXG) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 621,779 shares of the company’s stock, valued at approximately $7,269,000. 10x Genomics makes up 3.1% of Lancaster Investment Management’s portfolio, making the stock its 7th largest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TXG. Cetera Investment Advisers boosted its position in 10x Genomics by 20.6% during the first quarter. Cetera Investment Advisers now owns 23,991 shares of the company’s stock worth $209,000 after purchasing an additional 4,093 shares during the period. PNC Financial Services Group Inc. raised its position in shares of 10x Genomics by 153.6% in the first quarter. PNC Financial Services Group Inc. now owns 5,150 shares of the company’s stock valued at $45,000 after purchasing an additional 3,119 shares during the period. Vanguard Group Inc. lifted its stake in shares of 10x Genomics by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 11,118,086 shares of the company’s stock valued at $97,061,000 after buying an additional 184,537 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in 10x Genomics by 20.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 648,410 shares of the company’s stock worth $5,661,000 after buying an additional 108,744 shares during the period. Finally, Invesco Ltd. grew its stake in 10x Genomics by 62.1% in the 1st quarter. Invesco Ltd. now owns 191,332 shares of the company’s stock valued at $1,670,000 after buying an additional 73,265 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Serge Saxonov sold 13,261 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $19.00, for a total value of $251,959.00. Following the transaction, the chief executive officer directly owned 1,021,556 shares of the company’s stock, valued at approximately $19,409,564. This represents a 1.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Adam Taich sold 11,888 shares of 10x Genomics stock in a transaction on Monday, November 24th. The stock was sold at an average price of $19.00, for a total value of $225,872.00. Following the completion of the sale, the chief financial officer directly owned 297,385 shares of the company’s stock, valued at approximately $5,650,315. The trade was a 3.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 33,432 shares of company stock worth $635,208 over the last 90 days. 9.39% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TXG. UBS Group raised their price target on 10x Genomics from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Canaccord Genuity Group increased their price objective on 10x Genomics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Citigroup downgraded 10x Genomics from a “buy” rating to a “cautious” rating in a research note on Thursday, December 11th. Zacks Research cut 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of 10x Genomics in a research report on Monday, December 8th. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $15.73.

10x Genomics Price Performance

Shares of NASDAQ:TXG opened at $16.00 on Friday. The business has a fifty day moving average price of $15.37 and a 200-day moving average price of $13.45. The company has a market capitalization of $2.02 billion, a PE ratio of -25.81 and a beta of 2.15. 10x Genomics has a 1-year low of $6.78 and a 1-year high of $20.34.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.05. The company had revenue of $149.00 million for the quarter, compared to the consensus estimate of $142.50 million. 10x Genomics had a negative net margin of 11.89% and a negative return on equity of 11.50%. 10x Genomics’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.30) EPS. On average, sell-side analysts anticipate that 10x Genomics will post -1.43 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.