IQ EQ FUND MANAGEMENT IRELAND Ltd Acquires 190,059 Shares of 10x Genomics $TXG

IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in shares of 10x Genomics (NASDAQ:TXG) by 65.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 479,328 shares of the company’s stock after acquiring an additional 190,059 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in 10x Genomics were worth $5,603,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC purchased a new position in shares of 10x Genomics during the third quarter valued at approximately $251,000. Principal Financial Group Inc. bought a new stake in shares of 10x Genomics during the 3rd quarter worth approximately $1,896,000. Arizona State Retirement System lifted its stake in shares of 10x Genomics by 3.0% during the 3rd quarter. Arizona State Retirement System now owns 29,586 shares of the company’s stock worth $346,000 after acquiring an additional 872 shares during the last quarter. AlphaQuest LLC boosted its holdings in 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. Finally, Foundations Investment Advisors LLC bought a new position in 10x Genomics in the 3rd quarter valued at $665,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Serge Saxonov sold 13,261 shares of 10x Genomics stock in a transaction on Monday, November 24th. The stock was sold at an average price of $19.00, for a total value of $251,959.00. Following the transaction, the chief executive officer directly owned 1,021,556 shares in the company, valued at approximately $19,409,564. This trade represents a 1.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Benjamin J. Hindson sold 8,283 shares of the company’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $19.00, for a total value of $157,377.00. Following the sale, the insider owned 432,605 shares of the company’s stock, valued at $8,219,495. This trade represents a 1.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 33,432 shares of company stock worth $635,208. 9.39% of the stock is currently owned by company insiders.

10x Genomics Stock Performance

Shares of TXG opened at $17.70 on Friday. The company has a 50 day moving average price of $18.62 and a 200-day moving average price of $15.39. 10x Genomics has a fifty-two week low of $6.78 and a fifty-two week high of $23.56. The stock has a market capitalization of $2.24 billion, a PE ratio of -28.55 and a beta of 2.24.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.05. The company had revenue of $149.00 million during the quarter, compared to the consensus estimate of $142.50 million. 10x Genomics had a negative net margin of 11.89% and a negative return on equity of 11.50%. 10x Genomics’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.30) earnings per share. Equities research analysts forecast that 10x Genomics will post -1.43 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on TXG. JPMorgan Chase & Co. lifted their target price on 10x Genomics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. Barclays raised their price target on shares of 10x Genomics from $17.00 to $22.00 and gave the stock an “overweight” rating in a research note on Monday, December 15th. Wall Street Zen cut shares of 10x Genomics from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Zacks Research lowered 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Finally, Needham & Company LLC set a $21.00 price objective on 10x Genomics in a research note on Monday, January 12th. Four investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, 10x Genomics has a consensus rating of “Hold” and an average price target of $16.83.

10x Genomics Company Profile

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.