Corton Capital Inc. Buys New Shares in 10x Genomics, Inc. (NASDAQ:TXG)

Corton Capital Inc. purchased a new position in shares of 10x Genomics, Inc. (NASDAQ:TXG) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 24,541 shares of the company’s stock, valued at approximately $352,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Signaturefd LLC increased its holdings in shares of 10x Genomics by 424.6% in the fourth quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock worth $26,000 after buying an additional 1,452 shares during the period. Blue Trust Inc. grew its position in 10x Genomics by 73.1% during the 4th quarter. Blue Trust Inc. now owns 3,075 shares of the company’s stock worth $44,000 after acquiring an additional 1,299 shares during the last quarter. Sound Income Strategies LLC increased its stake in 10x Genomics by 65.2% in the 4th quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock worth $48,000 after purchasing an additional 1,330 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of 10x Genomics during the fourth quarter valued at approximately $52,000. Finally, SRS Capital Advisors Inc. grew its holdings in shares of 10x Genomics by 817.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 4,853 shares of the company’s stock worth $70,000 after purchasing an additional 4,324 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

10x Genomics Trading Down 5.9 %

Shares of NASDAQ:TXG opened at $8.10 on Wednesday. 10x Genomics, Inc. has a 12-month low of $6.78 and a 12-month high of $28.25. The stock has a market capitalization of $990.65 million, a price-to-earnings ratio of -5.33 and a beta of 1.94. The stock has a fifty day simple moving average of $9.05 and a two-hundred day simple moving average of $12.70.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. As a group, equities research analysts predict that 10x Genomics, Inc. will post -1.43 EPS for the current year.

Insider Transactions at 10x Genomics

In related news, Director Alan Mateo bought 40,000 shares of the stock in a transaction on Friday, February 21st. The shares were acquired at an average price of $11.14 per share, for a total transaction of $445,600.00. Following the purchase, the director now owns 61,691 shares of the company’s stock, valued at approximately $687,237.74. The trade was a 184.41 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Benjamin J. Hindson sold 4,573 shares of 10x Genomics stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $11.07, for a total transaction of $50,623.11. Following the completion of the sale, the insider now owns 335,324 shares of the company’s stock, 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.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TXG. Stifel Nicolaus dropped their price target on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Barclays dropped their target price on shares of 10x Genomics from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Leerink Partners downgraded 10x Genomics from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $25.00 to $12.00 in a report on Thursday, February 13th. Citigroup dropped their price objective on 10x Genomics from $20.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Finally, Leerink Partnrs lowered 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $18.85.

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.