Sumitomo Mitsui Trust Group Inc. Grows Position in 10x Genomics, Inc. (NASDAQ:TXG)

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of 10x Genomics, Inc. (NASDAQ:TXG - Free Report) by 3.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,373,212 shares of the company's stock after buying an additional 230,145 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 5.29% of 10x Genomics worth $143,907,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TXG. Allspring Global Investments Holdings LLC raised its stake in 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. Covestor Ltd boosted its holdings in shares of 10x Genomics by 501.7% in 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 period. GAMMA Investing LLC raised its holdings in 10x Genomics by 451.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,545 shares of the company's stock valued at $35,000 after buying an additional 1,265 shares during the period. Capital Performance Advisors LLP bought a new position in 10x Genomics during the third quarter valued at $35,000. Finally, Blue Trust Inc. lifted its holdings in shares of 10x Genomics by 136.5% in the 3rd quarter. Blue Trust Inc. now owns 1,776 shares of the company's stock worth $40,000 after acquiring an additional 1,025 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

Insider Transactions at 10x Genomics

In other news, CFO Justin J. Mcanear sold 2,961 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $66,711.33. Following the completion of the sale, the chief financial officer now directly owns 143,242 shares of the company's stock, valued at approximately $3,227,242.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 10x Genomics news, CFO Justin J. Mcanear sold 2,961 shares of the firm's stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $66,711.33. Following the completion of the sale, the chief financial officer now owns 143,242 shares of the company's stock, valued at approximately $3,227,242.26. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Benjamin J. Hindson sold 4,351 shares of the business's stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $98,028.03. Following the sale, the insider now directly owns 345,704 shares in the company, valued at $7,788,711.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,061 shares of company stock worth $316,794. 10.03% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on TXG. Barclays reduced their target price on 10x Genomics from $21.00 to $19.00 and set an "overweight" rating on the stock in a research note on Friday, November 1st. JPMorgan Chase & Co. lowered their target price on 10x Genomics from $20.00 to $14.00 and set a "neutral" rating for the company in a report on Wednesday, October 30th. Citigroup reduced their price target on 10x Genomics from $35.00 to $23.00 and set a "buy" rating for the company in a research report on Wednesday, October 30th. Leerink Partners initiated coverage on 10x Genomics in a research report on Tuesday, September 3rd. They set an "outperform" rating and a $35.00 price objective on the stock. Finally, Canaccord Genuity Group reduced their target price on shares of 10x Genomics from $32.00 to $20.00 and set a "buy" rating for the company in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $29.19.

10x Genomics Stock Down 4.9 %

Shares of NASDAQ TXG traded down $0.77 during mid-day trading on Wednesday, hitting $14.91. The company had a trading volume of 2,098,452 shares, compared to its average volume of 1,720,543. The business's 50-day simple moving average is $18.93 and its 200 day simple moving average is $20.65. 10x Genomics, Inc. has a 1-year low of $14.02 and a 1-year high of $57.90.

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, beating the consensus estimate of ($0.34) by $0.04. The firm had revenue of $151.65 million for the quarter, compared to analyst estimates of $158.84 million. 10x Genomics had a negative return on equity of 25.07% and a negative net margin of 28.93%. 10x Genomics's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.51) earnings per share. As a group, equities analysts predict that 10x Genomics, Inc. will post -1.4 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.