ARK Investment Management LLC Purchases 1,436,582 Shares of 10x Genomics, Inc. (NASDAQ:TXG)

ARK Investment Management LLC raised its position in 10x Genomics, Inc. (NASDAQ:TXG - Free Report) by 15.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,750,345 shares of the company's stock after purchasing an additional 1,436,582 shares during the quarter. 10x Genomics accounts for approximately 2.2% of ARK Investment Management LLC's holdings, making the stock its 12th largest holding. ARK Investment Management LLC owned 8.92% of 10x Genomics worth $242,743,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Interchange Capital Partners LLC acquired a new stake in shares of 10x Genomics in the 3rd quarter valued at about $285,000. Wealth Enhancement Advisory Services LLC increased its position in shares of 10x Genomics by 84.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 23,952 shares of the company's stock valued at $541,000 after acquiring an additional 10,935 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of 10x Genomics in the third quarter valued at about $438,000. Lecap Asset Management Ltd. acquired a new stake in shares of 10x Genomics in the third quarter valued at about $877,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of 10x Genomics by 2,280.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 38,963 shares of the company's stock valued at $880,000 after acquiring an additional 37,326 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TXG shares. Barclays lowered their target price on 10x Genomics from $21.00 to $19.00 and set an "overweight" rating on the stock in a research report on Friday, November 1st. UBS Group lowered their price target on 10x Genomics from $25.00 to $20.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 30th. Canaccord Genuity Group lowered their price target on 10x Genomics from $32.00 to $20.00 and set a "buy" rating on the stock in a research report on Thursday, October 10th. Morgan Stanley lowered their price target on 10x Genomics from $50.00 to $46.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 13th. Finally, Bank of America lowered their price target on 10x Genomics from $36.00 to $25.00 and set a "neutral" rating on the stock in a research report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $29.19.

10x Genomics Stock Performance

Shares of TXG traded down $0.53 during trading hours on Friday, reaching $15.64. The stock had a trading volume of 1,714,804 shares, compared to its average volume of 1,710,426. The stock has a market capitalization of $1.89 billion, a PE ratio of -10.37 and a beta of 1.87. 10x Genomics, Inc. has a 12 month low of $14.02 and a 12 month high of $57.90. The company's 50-day moving average is $19.38 and its two-hundred day moving average is $20.99.

10x Genomics (NASDAQ:TXG - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.04. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. The business had revenue of $151.65 million for the quarter, compared to the consensus estimate of $158.84 million. During the same period last year, the company earned ($0.51) EPS. The firm's revenue was down 1.3% compared to the same quarter last year. Equities analysts anticipate that 10x Genomics, Inc. will post -1.4 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Benjamin J. Hindson sold 4,351 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $98,028.03. Following the completion of the sale, the insider now owns 345,704 shares of the company's stock, valued at approximately $7,788,711.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Justin J. Mcanear sold 2,961 shares of the company's stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $66,711.33. Following the sale, the chief financial officer now owns 143,242 shares in the company, valued at $3,227,242.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benjamin J. Hindson sold 4,351 shares of the company's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $98,028.03. Following the sale, the insider now owns 345,704 shares in the company, valued at approximately $7,788,711.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,061 shares of company stock valued at $316,794. Company insiders own 10.03% of the company's stock.

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.