10x Genomics $TXG Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake 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 institutional investor owned 1,073,865 shares of the company’s stock after purchasing an additional 951,495 shares during the quarter. JPMorgan Chase & Co. owned about 0.86% of 10x Genomics worth $12,553,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Nikko Asset Management Americas Inc. raised its position in shares of 10x Genomics by 12.1% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 6,009,653 shares of the company’s stock worth $69,532,000 after buying an additional 646,997 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of 10x Genomics by 241.3% in the second quarter. AQR Capital Management LLC now owns 4,137,801 shares of the company’s stock valued at $47,916,000 after acquiring an additional 2,925,372 shares in the last quarter. Bank of America Corp DE increased its stake in shares of 10x Genomics by 13.4% during the second quarter. Bank of America Corp DE now owns 3,023,489 shares of the company’s stock valued at $35,012,000 after acquiring an additional 356,100 shares during the period. Geode Capital Management LLC raised its holdings in 10x Genomics by 41.2% during the second quarter. Geode Capital Management LLC now owns 2,650,819 shares of the company’s stock worth $30,701,000 after purchasing an additional 773,203 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its position in 10x Genomics by 207.2% in the second 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 during the period. Institutional investors own 84.68% of the company’s stock.

10x Genomics Price Performance

Shares of TXG opened at $21.64 on Friday. The company has a 50-day moving average of $19.79 and a two-hundred day moving average of $16.31. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of -61.83 and a beta of 2.20. 10x Genomics has a one year low of $6.78 and a one year high of $23.56.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings results on Thursday, February 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. 10x Genomics had a negative net margin of 6.77% and a negative return on equity of 6.89%. The business had revenue of $166.03 million for the quarter, compared to analyst estimates of $160.35 million. During the same quarter in the previous year, the business earned ($0.40) earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. Analysts anticipate that 10x Genomics will post -1.43 earnings per share for the current year.

Wall Street Analyst Weigh In

TXG has been the topic of several research analyst reports. Citigroup cut 10x Genomics from a “buy” rating to a “cautious” rating in a research report on Thursday, December 11th. Leerink Partners lowered 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. Bank of America set a $21.00 price target on shares of 10x Genomics in a research report on Monday, January 12th. Weiss Ratings restated a “sell (e+)” rating on shares of 10x Genomics in a research report on Monday, December 22nd. Finally, TD Cowen boosted their target price on shares of 10x Genomics from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Friday, February 13th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $18.46.

Insider Buying and Selling

In other 10x Genomics news, CFO Adam Taich sold 8,968 shares of 10x Genomics stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $18.58, for a total transaction of $166,625.44. Following the completion of the sale, the chief financial officer owned 288,417 shares of the company’s stock, valued at $5,358,787.86. This trade represents a 3.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Serge Saxonov sold 9,632 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $18.58, for a total value of $178,962.56. Following the sale, the chief executive officer owned 1,061,924 shares of the company’s stock, valued at approximately $19,730,547.92. This represents a 0.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 26,426 shares of company stock valued at $490,995. Corporate insiders own 9.39% of the company’s stock.

10x Genomics Company 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.