10x Genomics, Inc. (NASDAQ:TXG) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its stake in 10x Genomics, Inc. (NASDAQ:TXG - Free Report) by 16.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 296,902 shares of the company's stock after selling 58,586 shares during the period. JPMorgan Chase & Co. owned about 0.25% of 10x Genomics worth $4,264,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Assenagon Asset Management S.A. acquired a new stake in 10x Genomics in the 4th quarter valued at about $26,308,000. ARK Investment Management LLC raised its position in 10x Genomics by 11.1% in the 4th 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. SVB Wealth LLC acquired a new stake in 10x Genomics in the 4th quarter valued at about $7,505,000. Wealthfront Advisers LLC acquired a new stake in 10x Genomics in the 4th quarter valued at about $4,418,000. Finally, Alberta Investment Management Corp acquired a new stake in 10x Genomics in the 4th quarter valued at about $3,206,000. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 5,092 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $56,368.44. Following the sale, the chief executive officer now owns 879,482 shares of the company's stock, valued at approximately $9,735,865.74. This represents a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alan Mateo acquired 40,000 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were bought at an average cost 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 disclosure for this purchase can be found here. 10.03% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TXG shares. Canaccord Genuity Group reduced their price target on 10x Genomics from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Morgan Stanley cut their target price on 10x Genomics from $28.00 to $26.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Leerink Partners lowered 10x Genomics from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $25.00 to $12.00 in a research report on Thursday, February 13th. JPMorgan Chase & Co. cut their target price on 10x Genomics from $14.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of 10x Genomics in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $19.79.

10x Genomics Stock Down 1.4 %

TXG stock traded down $0.12 on Thursday, reaching $7.90. 623,108 shares of the company's stock were exchanged, compared to its average volume of 2,229,458. The stock has a fifty day moving average of $9.63 and a 200-day moving average of $13.27. 10x Genomics, Inc. has a twelve month low of $6.78 and a twelve month high of $29.37. The firm has a market cap of $966.68 million, a PE ratio of -5.19 and a beta of 2.01.

10x Genomics (NASDAQ:TXG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.40) earnings per share for the quarter, missing analysts' consensus estimates 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%. On average, equities research analysts predict that 10x Genomics, Inc. will post -1.43 EPS for the current fiscal year.

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.