Mirae Asset Global Investments Co. Ltd. Sells 79,904 Shares of 10x Genomics, Inc. (NASDAQ:TXG)

Mirae Asset Global Investments Co. Ltd. cut its stake in 10x Genomics, Inc. (NASDAQ:TXG) by 47.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,590 shares of the company’s stock after selling 79,904 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.07% of 10x Genomics worth $4,902,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Arizona State Retirement System grew its holdings in shares of 10x Genomics by 3.4% in the fourth quarter. Arizona State Retirement System now owns 24,562 shares of the company’s stock worth $1,374,000 after purchasing an additional 813 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of 10x Genomics by 51.6% in the fourth quarter. UMB Bank n.a. now owns 782 shares of the company’s stock worth $44,000 after purchasing an additional 266 shares during the last quarter. Mirador Capital Partners LP grew its holdings in shares of 10x Genomics by 1.9% in the fourth quarter. Mirador Capital Partners LP now owns 27,885 shares of the company’s stock worth $1,560,000 after purchasing an additional 521 shares during the last quarter. ARK Investment Management LLC grew its holdings in shares of 10x Genomics by 35.0% in the fourth quarter. ARK Investment Management LLC now owns 4,041,287 shares of the company’s stock worth $226,150,000 after purchasing an additional 1,047,827 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in 10x Genomics during the 4th quarter worth about $984,000. 84.68% of the stock is currently owned by institutional investors.

Insider Activity at 10x Genomics

In related news, CEO Serge Saxonov sold 2,821 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total value of $130,725.14. Following the completion of the transaction, the chief executive officer now directly owns 847,560 shares of the company’s stock, valued at approximately $39,275,930.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other 10x Genomics news, insider Benjamin J. Hindson sold 2,613 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total transaction of $121,086.42. Following the completion of the transaction, the insider now directly owns 283,059 shares of the company’s stock, valued at approximately $13,116,954.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Serge Saxonov sold 2,821 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $46.34, for a total transaction of $130,725.14. Following the transaction, the chief executive officer now directly owns 847,560 shares of the company’s stock, valued at $39,275,930.40. The disclosure for this sale can be found here. Insiders sold 12,959 shares of company stock valued at $592,806 in the last three months. 10.65% of the stock is owned by insiders.

10x Genomics Price Performance

TXG stock opened at $32.86 on Tuesday. The firm has a 50-day simple moving average of $41.22 and a two-hundred day simple moving average of $43.28. 10x Genomics, Inc. has a one year low of $32.68 and a one year high of $63.57.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.05). The firm had revenue of $183.98 million for the quarter, compared to analysts’ expectations of $182.73 million. 10x Genomics had a negative net margin of 41.17% and a negative return on equity of 28.82%. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.15) earnings per share. Equities research analysts expect that 10x Genomics, Inc. will post -1.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TXG. Stifel Nicolaus dropped their target price on shares of 10x Genomics from $68.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Barclays dropped their target price on shares of 10x Genomics from $55.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.88.

10x Genomics Company Profile

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.