Baillie Gifford & Co. Reduces Stock Holdings in 10x Genomics, Inc. (NASDAQ:TXG)

Baillie Gifford & Co. reduced its position in 10x Genomics, Inc. (NASDAQ:TXG) by 98.5% in the third 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 filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in 10x Genomics by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,101,536 shares of the company’s stock worth $341,581,000 after buying an additional 90,204 shares during the period. SG Americas Securities LLC boosted its holdings in shares of 10x Genomics by 604.9% in the second quarter. SG Americas Securities LLC now owns 101,344 shares of the company’s stock worth $1,971,000 after acquiring an additional 86,967 shares during the period. Lecap Asset Management Ltd. purchased a new position in shares of 10x Genomics in the third quarter valued at $877,000. Marshall Wace LLP purchased a new stake in 10x Genomics during the 2nd quarter worth about $689,000. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in 10x Genomics by 10,124.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 44,785 shares of the company’s stock worth $871,000 after purchasing an additional 44,347 shares during the period. 84.68% of the stock is currently owned by institutional investors.

10x Genomics Stock Performance

TXG stock opened at $14.91 on Thursday. The company has a market capitalization of $1.80 billion, a PE ratio of -9.75 and a beta of 1.87. 10x Genomics, Inc. has a one year low of $14.02 and a one year high of $57.90. The company’s 50 day moving average price is $18.93 and its two-hundred day moving average price is $20.65.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.04. The business had revenue of $151.65 million during the quarter, compared to the consensus estimate 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 for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.51) earnings per share. On average, research analysts predict that 10x Genomics, Inc. will post -1.4 EPS for the current year.

Wall Street Analyst Weigh In

TXG has been the topic of a number of recent analyst reports. Morgan Stanley cut their price objective on shares of 10x Genomics from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. Stephens reissued an “overweight” rating and issued a $30.00 price target on shares of 10x Genomics in a report on Thursday, October 10th. Citigroup decreased their price target on shares of 10x Genomics from $35.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. dropped their price objective on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group upgraded 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Monday, July 22nd. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $29.19.

Insider Buying and Selling

In related news, insider Benjamin J. Hindson sold 4,351 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $98,028.03. Following the completion of the sale, the insider now directly owns 345,704 shares in the company, valued at $7,788,711.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Benjamin J. Hindson sold 4,351 shares of the firm’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 $98,028.03. Following the sale, the insider now directly owns 345,704 shares of the company’s stock, valued at $7,788,711.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Justin J. Mcanear sold 2,961 shares of the company’s 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 $66,711.33. Following the transaction, the chief financial officer now directly owns 143,242 shares of the company’s stock, valued at $3,227,242.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,061 shares of company stock worth $316,794 in the last ninety days. 10.03% of the stock is owned by insiders.

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.