Pallas Capital Advisors LLC Makes New Investment in 10x Genomics, Inc. (NASDAQ:TXG)

Pallas Capital Advisors LLC acquired a new position in shares of 10x Genomics, Inc. (NASDAQ:TXG) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 23,780 shares of the company’s stock, valued at approximately $208,000.

Several other large investors also recently bought and sold shares of TXG. RA Capital Management L.P. purchased a new stake in shares of 10x Genomics in the fourth quarter valued at approximately $47,092,000. D. E. Shaw & Co. Inc. purchased a new stake in shares of 10x Genomics in the fourth quarter valued at approximately $17,499,000. ARK Investment Management LLC grew its position in shares of 10x Genomics by 11.1% in the fourth quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock valued at $171,517,000 after purchasing an additional 1,193,712 shares in the last quarter. Two Sigma Investments LP grew its position in shares of 10x Genomics by 291.2% in the fourth quarter. Two Sigma Investments LP now owns 1,319,487 shares of the company’s stock valued at $18,948,000 after purchasing an additional 982,203 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in shares of 10x Genomics by 240.6% in the fourth quarter. Two Sigma Advisers LP now owns 1,236,200 shares of the company’s stock valued at $17,752,000 after purchasing an additional 873,200 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on TXG. JPMorgan Chase & Co. decreased their price objective on 10x Genomics from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. Citigroup decreased their price objective on 10x Genomics from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Barclays decreased their price objective on 10x Genomics from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Morgan Stanley decreased their price objective on 10x Genomics from $26.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, May 19th. Finally, Wall Street Zen upgraded 10x Genomics from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $15.81.

Insider Activity

In related news, insider Benjamin J. Hindson sold 7,485 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $8.30, for a total value of $62,125.50. Following the transaction, the insider now owns 448,374 shares of the company’s stock, valued at $3,721,504.20. This represents a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Adam Taich sold 4,044 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total value of $33,565.20. Following the completion of the transaction, the chief financial officer now directly owns 331,588 shares in the company, valued at $2,752,180.40. This trade represents a 1.20% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,872 shares of company stock worth $173,238. Corporate insiders own 9.39% of the company’s stock.

10x Genomics Trading Down 1.6%

Shares of NASDAQ TXG opened at $10.41 on Friday. The stock has a market cap of $1.28 billion, a P/E ratio of -6.85 and a beta of 1.99. 10x Genomics, Inc. has a 12-month low of $6.78 and a 12-month high of $24.76. The business’s fifty day simple moving average is $8.75 and its 200-day simple moving average is $11.56.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.09. The business had revenue of $154.88 million for the quarter, compared to analysts’ expectations of $131.91 million. 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.50) earnings per share. On average, equities analysts forecast that 10x Genomics, Inc. will post -1.43 EPS for the current fiscal year.

10x Genomics 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.