Point72 Asia Singapore Pte. Ltd. Lowers Position in 10x Genomics, Inc. (NASDAQ:TXG)

Point72 Asia Singapore Pte. Ltd. lowered its stake in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 70.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,578 shares of the company’s stock after selling 8,510 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in 10x Genomics were worth $51,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Signaturefd LLC lifted its position in 10x Genomics by 424.6% during the fourth quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock valued at $26,000 after buying an additional 1,452 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of 10x Genomics by 73.1% during the 4th quarter. Blue Trust Inc. now owns 3,075 shares of the company’s stock valued at $44,000 after acquiring an additional 1,299 shares in the last quarter. Sound Income Strategies LLC boosted its position in 10x Genomics by 65.2% during 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 10x Genomics during the 4th quarter worth $52,000. Finally, SRS Capital Advisors Inc. increased its holdings in 10x Genomics by 817.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 4,853 shares of the company’s stock valued at $70,000 after purchasing an additional 4,324 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling

In other 10x Genomics news, CEO Serge Saxonov sold 5,092 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $11.07, for a total value of $56,368.44. Following the transaction, the chief executive officer now owns 879,482 shares of the company’s stock, valued at $9,735,865.74. This trade represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alan Mateo bought 40,000 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was bought at an average price 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. This trade represents a 184.41% increase in their ownership of the stock. The disclosure for this purchase can be found here. 9.39% of the stock is currently owned by company insiders.

10x Genomics Stock Performance

Shares of 10x Genomics stock opened at $9.39 on Monday. 10x Genomics, Inc. has a 1 year low of $6.78 and a 1 year high of $25.55. The firm’s 50-day simple moving average is $8.77 and its 200-day simple moving average is $12.31. The firm has a market cap of $1.15 billion, a PE ratio of -6.18 and a beta of 1.94.

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 firm 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%. 10x Genomics’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.50) earnings per share. On average, equities analysts predict that 10x Genomics, Inc. will post -1.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TXG shares. The Goldman Sachs Group decreased their target price on 10x Genomics from $7.50 to $6.50 and set a “sell” rating for the company in a research report on Monday, May 12th. Morgan Stanley decreased their price target on 10x Genomics from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, February 14th. JPMorgan Chase & Co. dropped their price objective on shares of 10x Genomics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. UBS Group decreased their target price on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a report on Saturday, May 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $16.42.

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.