Renaissance Technologies LLC Purchases Shares of 386,955 10x Genomics, Inc. (NASDAQ:TXG)

Renaissance Technologies LLC acquired a new stake in 10x Genomics, Inc. (NASDAQ:TXG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 386,955 shares of the company’s stock, valued at approximately $5,557,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC raised its stake in 10x Genomics by 0.6% in the fourth quarter. FMR LLC now owns 13,454,434 shares of the company’s stock valued at $193,206,000 after buying an additional 86,455 shares in the last quarter. ARK Investment Management LLC raised its position in shares of 10x Genomics by 11.1% during the 4th quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock worth $171,517,000 after acquiring an additional 1,193,712 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in 10x Genomics during the fourth quarter worth approximately $26,308,000. Geode Capital Management LLC boosted its holdings in 10x Genomics by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company’s stock valued at $41,009,000 after purchasing an additional 42,777 shares in the last quarter. Finally, Barclays PLC increased its stake in 10x Genomics by 11.7% in the third quarter. Barclays PLC now owns 602,536 shares of the company’s stock valued at $13,605,000 after purchasing an additional 63,079 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Alan Mateo bought 40,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was purchased at an average price of $11.14 per share, with a total value of $445,600.00. Following the purchase, the director now owns 61,691 shares of the company’s stock, valued at $687,237.74. This trade represents a 184.41 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Benjamin J. Hindson sold 4,573 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $11.07, for a total transaction of $50,623.11. Following the sale, the insider now directly owns 335,324 shares in the company, valued at $3,712,036.68. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.03% of the company’s stock.

10x Genomics Stock Down 6.5 %

Shares of TXG opened at $7.51 on Monday. The company has a market capitalization of $918.49 million, a PE ratio of -4.94 and a beta of 2.01. 10x Genomics, Inc. has a 52-week low of $6.78 and a 52-week high of $29.37. The company has a 50-day simple moving average of $9.88 and a 200-day simple moving average of $13.43.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.08). 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. On average, research analysts anticipate that 10x Genomics, Inc. will post -1.43 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TXG. Morgan Stanley lowered their target price on shares of 10x Genomics from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a report on Tuesday, April 8th. Barclays reduced their target price on 10x Genomics from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. UBS Group dropped their price target on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. reduced their price objective on 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, 10x Genomics presently has a consensus rating of “Hold” and an average target price of $19.79.

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.