Primecap Management Co. CA Lowers Stock Position in 10x Genomics, Inc. (NASDAQ:TXG)

Primecap Management Co. CA trimmed its holdings in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 56.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 127,600 shares of the company’s stock after selling 167,800 shares during the quarter. Primecap Management Co. CA owned approximately 0.11% of 10x Genomics worth $1,832,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. KBC Group NV lifted its position in shares of 10x Genomics by 38.8% during the third quarter. KBC Group NV now owns 3,225 shares of the company’s stock valued at $73,000 after buying an additional 902 shares during the last quarter. Atria Wealth Solutions Inc. lifted its position in 10x Genomics by 9.6% during the fourth quarter. Atria Wealth Solutions Inc. now owns 10,788 shares of the company’s stock valued at $155,000 after acquiring an additional 943 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in 10x Genomics by 53.3% in the third quarter. First Horizon Advisors Inc. now owns 2,910 shares of the company’s stock valued at $66,000 after acquiring an additional 1,012 shares in the last quarter. Blue Trust Inc. grew its holdings 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 purchasing an additional 1,299 shares during the last quarter. Finally, Sound Income Strategies LLC increased its position in shares of 10x Genomics by 65.2% during the fourth quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock worth $48,000 after purchasing an additional 1,330 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

10x Genomics Price Performance

TXG opened at $10.29 on Thursday. The stock has a market cap of $1.26 billion, a P/E ratio of -6.77 and a beta of 1.93. The firm has a fifty day moving average price of $12.90 and a 200 day moving average price of $15.71. 10x Genomics, Inc. has a 1 year low of $9.27 and a 1 year high of $39.30.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Equities analysts expect that 10x Genomics, Inc. will post -1.43 EPS for the current year.

Wall Street Analysts Forecast Growth

TXG has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their target price on 10x Genomics from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. UBS Group cut their price objective on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Barclays decreased their price objective on shares of 10x Genomics from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Canaccord Genuity Group dropped their target price on shares of 10x Genomics from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, Morgan Stanley reduced their target price on 10x Genomics from $28.00 to $26.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $20.21.

Insider Activity

In related news, CEO Serge Saxonov sold 5,092 shares of 10x Genomics stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $56,368.44. Following the sale, the chief executive officer now directly owns 879,482 shares in the company, valued at approximately $9,735,865.74. The trade was a 0.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Alan Mateo acquired 40,000 shares of the business’s stock in a transaction on Friday, February 21st. The shares were purchased at an average price of $11.14 per share, with a total value of $445,600.00. Following the completion of the purchase, the director now owns 61,691 shares in the company, valued at $687,237.74. This represents a 184.41 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 10.03% of the company’s stock.

10x Genomics Company 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.