Rhenman & Partners Asset Management AB reduced its position in shares of 10x Genomics, Inc. (NASDAQ:TXG – Free Report) by 9.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,000 shares of the company’s stock after selling 14,000 shares during the period. Rhenman & Partners Asset Management AB owned approximately 0.12% of 10x Genomics worth $7,594,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd acquired a new stake in 10x Genomics in the first quarter valued at approximately $39,000. Atlas Capital Advisors LLC lifted its stake in shares of 10x Genomics by 41.7% in the 2nd quarter. Atlas Capital Advisors LLC now owns 935 shares of the company’s stock valued at $42,000 after acquiring an additional 275 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of 10x Genomics by 17.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,299 shares of the company’s stock valued at $73,000 after acquiring an additional 197 shares in the last quarter. Natixis bought a new stake in 10x Genomics during the 4th quarter worth $74,000. Finally, American International Group Inc. increased its holdings in 10x Genomics by 28.9% in the 2nd quarter. American International Group Inc. now owns 1,706 shares of the company’s stock worth $95,000 after purchasing an additional 382 shares in the last quarter. Institutional investors and hedge funds own 79.16% of the company’s stock.
Analyst Ratings Changes
TXG has been the subject of a number of recent research reports. Morgan Stanley restated an “overweight” rating and issued a $65.00 price objective on shares of 10x Genomics in a report on Monday, August 7th. Citigroup increased their price target on 10x Genomics from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Canaccord Genuity Group reissued a “buy” rating and issued a $70.00 price objective on shares of 10x Genomics in a research note on Tuesday, September 19th. Finally, Barclays decreased their target price on 10x Genomics from $66.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday, September 29th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.78.
In other news, CEO Serge Saxonov sold 2,000 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $49.37, for a total value of $98,740.00. Following the completion of the transaction, the chief executive officer now directly owns 862,093 shares of the company’s stock, valued at $42,561,531.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 10.65% of the company’s stock.
10x Genomics Stock Performance
NASDAQ:TXG traded up $0.69 during trading hours on Tuesday, reaching $44.11. The stock had a trading volume of 377,484 shares, compared to its average volume of 970,763. 10x Genomics, Inc. has a 12-month low of $31.28 and a 12-month high of $63.57. The stock has a 50 day simple moving average of $40.46 and a 200 day simple moving average of $49.52. The stock has a market cap of $5.21 billion, a P/E ratio of -22.73 and a beta of 1.84.
10x Genomics Profile
10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in North America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium and chromium connect instruments, microfluidic chips, slides, reagents, and other consumables products.
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