Nano Cap New Millennium Growth Fund L P Makes New Investment in 10x Genomics $TXG

Nano Cap New Millennium Growth Fund L P bought a new position in 10x Genomics (NASDAQ:TXG) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 30,000 shares of the company’s stock, valued at approximately $489,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of TXG. Foundations Investment Advisors LLC acquired a new position in shares of 10x Genomics during the third quarter valued at $665,000. AlphaQuest LLC increased its holdings in shares of 10x Genomics by 234.3% during the third quarter. AlphaQuest LLC now owns 133,419 shares of the company’s stock valued at $1,560,000 after purchasing an additional 93,514 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of 10x Genomics during the third quarter valued at $1,179,000. JPMorgan Chase & Co. increased its holdings in shares of 10x Genomics by 777.6% during the third quarter. JPMorgan Chase & Co. now owns 1,073,865 shares of the company’s stock valued at $12,553,000 after purchasing an additional 951,495 shares during the period. Finally, Dynasty Wealth Management LLC acquired a new position in shares of 10x Genomics during the third quarter valued at $280,000. Institutional investors own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TXG. Morgan Stanley raised their price target on 10x Genomics from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Zacks Research cut 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Monday. TD Cowen boosted their target price on 10x Genomics from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Friday, February 13th. JPMorgan Chase & Co. boosted their target price on 10x Genomics from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Finally, Leerink Partners dropped their target price on 10x Genomics from $22.00 to $20.00 and set a “market perform” rating on the stock in a report on Tuesday, January 27th. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, 10x Genomics has an average rating of “Hold” and an average price target of $23.17.

Insider Transactions at 10x Genomics

In other news, CFO Adam Taich sold 8,968 shares of 10x Genomics stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $18.58, for a total value of $166,625.44. Following the transaction, the chief financial officer directly owned 288,417 shares of the company’s stock, valued at $5,358,787.86. This trade represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Benjamin J. Hindson sold 7,826 shares of 10x Genomics 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 directly owned 424,779 shares in the company, valued at approximately $7,892,393.82. This trade represents a 1.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 46,426 shares of company stock valued at $902,695 over the last ninety days. Corporate insiders own 8.84% of the company’s stock.

10x Genomics Stock Up 2.9%

TXG opened at $24.68 on Friday. The firm has a market cap of $3.13 billion, a PE ratio of -145.18 and a beta of 2.05. The business has a fifty day simple moving average of $21.58 and a 200-day simple moving average of $19.58. 10x Genomics has a fifty-two week low of $8.06 and a fifty-two week high of $26.44.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.19. The business had revenue of $150.84 million during the quarter, compared to analyst estimates of $146.41 million. 10x Genomics had a negative return on equity of 2.86% and a negative net margin of 3.55%.The company’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company posted ($0.28) EPS. On average, equities research analysts anticipate that 10x Genomics will post -0.82 EPS for the current fiscal year.

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.