10x Genomics, Inc. (NASDAQ:TXG) Stock Position Increased by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in 10x Genomics, Inc. (NASDAQ:TXG) by 160.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 52,787 shares of the company’s stock after purchasing an additional 32,555 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in 10x Genomics were worth $758,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Congress Wealth Management LLC DE bought a new position in shares of 10x Genomics in the fourth quarter worth $340,000. LPL Financial LLC lifted its holdings in 10x Genomics by 26.2% in the fourth quarter. LPL Financial LLC now owns 33,771 shares of the company’s stock worth $485,000 after purchasing an additional 7,014 shares during the period. KLP Kapitalforvaltning AS bought a new position in 10x Genomics in the 4th quarter valued at about $277,000. Quantbot Technologies LP bought a new position in 10x Genomics in the 4th quarter valued at about $1,026,000. Finally, Counterpoint Mutual Funds LLC acquired a new position in 10x Genomics during the 4th quarter valued at about $742,000. Institutional investors own 84.68% of the company’s stock.

10x Genomics Price Performance

TXG stock opened at $9.16 on Friday. The company’s 50 day simple moving average is $12.12 and its 200-day simple moving average is $15.13. 10x Genomics, Inc. has a 52-week low of $8.92 and a 52-week high of $37.86. The firm has a market capitalization of $1.12 billion, a P/E ratio of -6.03 and a beta of 1.93.

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

Insiders Place Their Bets

In related news, Director Alan Mateo purchased 40,000 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were acquired at an average cost of $11.14 per share, with a total value of $445,600.00. Following the completion of the purchase, the director now owns 61,691 shares of the company’s stock, valued at $687,237.74. The trade was a 184.41 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Benjamin J. Hindson sold 4,573 shares of 10x Genomics stock in a transaction on Monday, February 24th. The shares were sold at an average price of $11.07, for a total value of $50,623.11. Following the sale, the insider now directly owns 335,324 shares of the company’s stock, valued at approximately $3,712,036.68. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 10.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TXG shares. Canaccord Genuity Group reduced their price target on shares of 10x Genomics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Leerink Partnrs downgraded 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 13th. Barclays lowered their price target on 10x Genomics from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Stifel Nicolaus cut their price objective on 10x Genomics from $21.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a report on Saturday, March 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, 10x Genomics has a consensus rating of “Hold” and an average price target of $20.21.

About 10x Genomics

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.