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

Baillie Gifford & Co. reduced its stake in shares of 10x Genomics, Inc. (NASDAQ:TXG - Free Report) by 98.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,378 shares of the company's stock after selling 2,701,775 shares during the quarter. Baillie Gifford & Co.'s holdings in 10x Genomics were worth $912,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of 10x Genomics by 113.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company's stock valued at $26,000 after purchasing an additional 371 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of 10x Genomics by 74.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company's stock worth $37,000 after acquiring an additional 808 shares in the last quarter. Covestor Ltd lifted its stake in shares of 10x Genomics by 501.7% during the 1st quarter. Covestor Ltd now owns 1,047 shares of the company's stock worth $39,000 after purchasing an additional 873 shares during the last quarter. Blue Trust Inc. boosted its position in 10x Genomics by 136.5% during the third quarter. Blue Trust Inc. now owns 1,776 shares of the company's stock valued at $40,000 after purchasing an additional 1,025 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in 10x Genomics by 451.8% in the third quarter. GAMMA Investing LLC now owns 1,545 shares of the company's stock valued at $35,000 after purchasing an additional 1,265 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

10x Genomics Price Performance

NASDAQ TXG traded down $0.55 during trading hours on Thursday, reaching $14.36. The company's stock had a trading volume of 910,424 shares, compared to its average volume of 1,716,880. 10x Genomics, Inc. has a 1-year low of $14.02 and a 1-year high of $57.90. The company's 50-day moving average is $18.77 and its two-hundred day moving average is $20.61. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of -9.75 and a beta of 1.87.

10x Genomics (NASDAQ:TXG - Get Free Report) last issued its quarterly 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. The company had revenue of $151.65 million during the quarter, compared to analyst estimates of $158.84 million. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. The firm's revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.51) EPS. Equities analysts forecast that 10x Genomics, Inc. will post -1.4 EPS for the current fiscal year.

Insider Activity

In other news, CEO Serge Saxonov sold 6,749 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $152,054.97. Following the completion of the sale, the chief executive officer now owns 882,467 shares of the company's stock, valued at $19,881,981.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other 10x Genomics 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 through this link. Also, CEO Serge Saxonov sold 6,749 shares of the business's stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $152,054.97. Following the transaction, the chief executive officer now directly owns 882,467 shares of the company's stock, valued at approximately $19,881,981.51. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,061 shares of company stock worth $316,794 over the last three months. Insiders own 10.03% of the company's stock.

Wall Street Analyst Weigh In

TXG has been the subject of several recent analyst reports. The Goldman Sachs Group lowered their target price on shares of 10x Genomics from $16.00 to $14.00 and set a "sell" rating for the company in a research note on Wednesday, October 30th. Bank of America reduced their target price 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. Leerink Partners started coverage on 10x Genomics in a research note on Tuesday, September 3rd. They set an "outperform" rating and a $35.00 price target on the stock. Jefferies Financial Group upgraded shares of 10x Genomics from a "hold" rating to a "buy" rating and set a $24.00 target price for the company in a research note on Monday, July 22nd. Finally, Stephens restated an "overweight" rating and set a $30.00 price target on shares of 10x Genomics in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.19.

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.