JPMorgan Chase & Co. Buys 951,495 Shares of 10x Genomics $TXG

JPMorgan Chase & Co. boosted its stake in shares of 10x Genomics (NASDAQ:TXG) by 777.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,073,865 shares of the company’s stock after purchasing an additional 951,495 shares during the period. JPMorgan Chase & Co.’s holdings in 10x Genomics were worth $12,553,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Foundations Investment Advisors LLC bought a new position in shares of 10x Genomics in the third quarter worth about $665,000. Jump Financial LLC grew its stake in shares of 10x Genomics by 130.2% during the 2nd quarter. Jump Financial LLC now owns 1,041,051 shares of the company’s stock valued at $12,055,000 after acquiring an additional 588,769 shares during the period. AlphaQuest LLC grew its stake in shares of 10x Genomics by 234.3% during the 3rd quarter. AlphaQuest LLC now owns 133,419 shares of the company’s stock valued at $1,560,000 after acquiring an additional 93,514 shares during the period. Friedenthal Financial purchased a new stake in 10x Genomics in the 3rd quarter worth approximately $924,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in 10x Genomics in the 3rd quarter worth approximately $1,179,000. Institutional investors own 84.68% of the company’s stock.

10x Genomics Price Performance

TXG stock opened at $19.48 on Friday. 10x Genomics has a 1-year low of $6.78 and a 1-year high of $23.56. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of -55.66 and a beta of 2.20. The business has a 50 day simple moving average of $20.00 and a two-hundred day simple moving average of $16.93.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings data on Thursday, February 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.06. 10x Genomics had a negative net margin of 6.77% and a negative return on equity of 6.89%. The firm had revenue of $166.03 million for the quarter, compared to analysts’ expectations of $160.35 million. During the same quarter last year, the business posted ($0.40) earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. Sell-side analysts anticipate that 10x Genomics will post -1.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on TXG shares. Leerink Partners lowered their price target on shares of 10x Genomics from $22.00 to $20.00 and set a “market perform” rating on the stock in a report on Tuesday, January 27th. Barclays raised their price objective on shares of 10x Genomics from $17.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday, December 15th. Bank of America set a $21.00 target price on shares of 10x Genomics in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a report on Monday, December 22nd. Finally, Citigroup lowered 10x Genomics from a “buy” rating to a “cautious” rating in a research note on Thursday, December 11th. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $18.46.

Insider Activity at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 10,000 shares of the business’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $19.13, for a total value of $191,300.00. Following the sale, the chief executive officer owned 1,177,273 shares in the company, valued at $22,521,232.49. The trade was a 0.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Benjamin J. Hindson sold 7,826 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $18.58, for a total transaction of $145,407.08. Following the transaction, the insider directly owned 424,779 shares of the company’s stock, valued at $7,892,393.82. This trade represents a 1.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 41,426 shares of company stock valued at $779,895. Corporate insiders own 9.39% of the company’s stock.

About 10x Genomics

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.