Primecap Management Co. CA Sells 167,800 Shares of 10x Genomics, Inc. (NASDAQ:TXG)

Primecap Management Co. CA reduced its stake in shares of 10x Genomics, Inc. (NASDAQ:TXG - Free Report) by 56.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 127,600 shares of the company's stock after selling 167,800 shares during the period. Primecap Management Co. CA owned about 0.11% of 10x Genomics worth $1,832,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Signaturefd LLC boosted its holdings in 10x Genomics by 424.6% during the fourth quarter. Signaturefd LLC now owns 1,794 shares of the company's stock worth $26,000 after purchasing an additional 1,452 shares during the last quarter. Blue Trust Inc. increased its position in 10x Genomics by 73.1% in the fourth quarter. Blue Trust Inc. now owns 3,075 shares of the company's stock worth $44,000 after buying an additional 1,299 shares during the last quarter. Sound Income Strategies LLC raised its stake in shares of 10x Genomics by 65.2% in the fourth quarter. Sound Income Strategies LLC now owns 3,370 shares of the company's stock valued at $48,000 after buying an additional 1,330 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of 10x Genomics during the 4th quarter valued at $52,000. Finally, First Horizon Advisors Inc. grew its stake in shares of 10x Genomics by 53.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 2,910 shares of the company's stock worth $66,000 after acquiring an additional 1,012 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

10x Genomics Price Performance

Shares of TXG stock remained flat at $10.39 during trading on Monday. 2,800,508 shares of the company traded hands, compared to its average volume of 2,008,412. The business's 50 day simple moving average is $12.68 and its 200-day simple moving average is $15.47. The firm has a market cap of $1.27 billion, a PE ratio of -6.84 and a beta of 1.93. 10x Genomics, Inc. has a one year low of $9.27 and a one year high of $38.49.

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10x Genomics (NASDAQ:TXG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) EPS 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, research analysts anticipate that 10x Genomics, Inc. will post -1.43 EPS for the current fiscal year.

Insider Activity at 10x Genomics

In other news, CEO Serge Saxonov sold 5,092 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $11.07, for a total value of $56,368.44. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alan Mateo bought 40,000 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was acquired at an average price of $11.14 per share, for a total transaction of $445,600.00. Following the transaction, the director now owns 61,691 shares in the company, 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. 10.03% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of 10x Genomics from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. Leerink Partners cut shares of 10x Genomics from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $25.00 to $12.00 in a research note on Thursday, February 13th. Canaccord Genuity Group reduced their price objective on shares of 10x Genomics from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Stifel Nicolaus lowered their target price on shares of 10x Genomics from $21.00 to $18.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Finally, Leerink Partnrs lowered 10x Genomics from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, 10x Genomics has a consensus rating of "Hold" and an average price target of $20.21.

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.