Meridiem Capital Partners LP Invests $4.92 Million in 10x Genomics, Inc. (NASDAQ:TXG)

Meridiem Capital Partners LP bought a new stake in shares of 10x Genomics, Inc. (NASDAQ:TXG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 342,870 shares of the company’s stock, valued at approximately $4,924,000. Meridiem Capital Partners LP owned about 0.28% of 10x Genomics at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in shares of 10x Genomics by 355.0% during the third quarter. JPMorgan Chase & Co. now owns 355,488 shares of the company’s stock valued at $8,027,000 after purchasing an additional 277,355 shares in the last quarter. Entropy Technologies LP boosted its holdings in 10x Genomics by 285.6% in the fourth quarter. Entropy Technologies LP now owns 37,595 shares of the company’s stock valued at $540,000 after purchasing an additional 27,844 shares during the last quarter. SG Americas Securities LLC raised its position in shares of 10x Genomics by 209.8% during the 4th quarter. SG Americas Securities LLC now owns 73,046 shares of the company’s stock worth $1,049,000 after purchasing an additional 49,468 shares during the last quarter. Alberta Investment Management Corp acquired a new stake in 10x Genomics in the 4th quarter valued at about $3,206,000. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in 10x Genomics in the 4th quarter valued at approximately $326,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Alan Mateo acquired 40,000 shares of the stock in a transaction dated Friday, February 21st. The stock was bought at an average price of $11.14 per share, for a total transaction of $445,600.00. Following the purchase, the director now directly 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Serge Saxonov sold 5,092 shares of 10x Genomics stock in a transaction on Monday, February 24th. The stock was sold at an average price of $11.07, for a total transaction of $56,368.44. Following the transaction, the chief executive officer now directly owns 879,482 shares in the company, valued at $9,735,865.74. This represents a 0.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.39% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TXG has been the subject of several research analyst reports. Barclays decreased their price objective on shares of 10x Genomics from $15.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Leerink Partnrs lowered shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 13th. UBS Group decreased their price target on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Weiss Ratings restated a “sell (e+)” rating on shares of 10x Genomics in a report on Saturday. Finally, Morgan Stanley dropped their price target on shares of 10x Genomics from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $17.81.

10x Genomics Stock Performance

Shares of NASDAQ TXG opened at $9.49 on Tuesday. 10x Genomics, Inc. has a 52-week low of $6.78 and a 52-week high of $28.25. The firm has a 50 day moving average price of $8.92 and a 200 day moving average price of $12.50. The stock has a market cap of $1.16 billion, a P/E ratio of -6.24 and a beta of 1.94.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.09. 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. The firm had revenue of $154.88 million for the quarter, compared to analyst estimates of $131.91 million. During the same period in the prior year, the firm posted ($0.50) earnings per share. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. Analysts predict that 10x Genomics, Inc. will post -1.43 earnings per share 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.