Zurcher Kantonalbank Zurich Cantonalbank Increases Holdings in 10x Genomics, Inc. (NASDAQ:TXG)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 19.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,971 shares of the company’s stock after buying an additional 3,603 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in 10x Genomics were worth $427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Venrock Management VI LLC purchased a new stake in 10x Genomics during the 4th quarter worth about $117,894,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in 10x Genomics by 58.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,621,778 shares of the company’s stock worth $135,925,000 after buying an additional 1,338,248 shares during the last quarter. Vanguard Group Inc. lifted its holdings in 10x Genomics by 1.0% during 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 last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in 10x Genomics by 264.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 319,287 shares of the company’s stock worth $11,983,000 after buying an additional 231,697 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in 10x Genomics by 604.9% during the 2nd quarter. SG Americas Securities LLC now owns 101,344 shares of the company’s stock worth $1,971,000 after buying an additional 86,967 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on TXG shares. Morgan Stanley decreased their price target on 10x Genomics from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft downgraded 10x Genomics from a “buy” rating to a “hold” rating and reduced their target price for the company from $55.00 to $25.00 in a report on Wednesday, July 10th. Stifel Nicolaus reduced their target price on 10x Genomics from $53.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, July 16th. Barclays reduced their target price on 10x Genomics from $36.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, June 28th. Finally, Canaccord Genuity Group reduced their target price on 10x Genomics from $50.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.60.

10x Genomics Stock Down 6.9 %

Shares of TXG stock opened at $21.54 on Friday. The stock has a market capitalization of $2.60 billion, a PE ratio of -9.66 and a beta of 1.85. 10x Genomics, Inc. has a 52-week low of $15.28 and a 52-week high of $57.90. The stock’s 50-day moving average price is $20.19 and its 200 day moving average price is $27.01.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.15. 10x Genomics had a negative return on equity of 28.23% and a negative net margin of 37.90%. The firm had revenue of $153.10 million for the quarter, compared to analysts’ expectations of $150.90 million. Analysts expect that 10x Genomics, Inc. will post -1.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 10x Genomics news, 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 transaction of $98,028.03. Following the transaction, the insider now owns 345,704 shares in the company, valued at approximately $7,788,711.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Justin J. Mcanear sold 2,961 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 transaction of $66,711.33. Following the sale, the chief financial officer now owns 143,242 shares of the company’s stock, valued at approximately $3,227,242.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 approximately $7,788,711.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,061 shares of company stock worth $316,794. Company insiders own 10.03% of the company’s stock.

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.