Pier 88 Investment Partners LLC Decreases Stock Holdings in 10x Genomics, Inc. (NASDAQ:TXG)

Pier 88 Investment Partners LLC cut its stake in 10x Genomics, Inc. (NASDAQ:TXG) by 18.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 10,480 shares of the company’s stock after selling 2,300 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in 10x Genomics were worth $150,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Cerity Partners LLC grew its holdings in 10x Genomics by 42.3% in the 3rd quarter. Cerity Partners LLC now owns 36,367 shares of the company’s stock valued at $821,000 after buying an additional 10,815 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of 10x Genomics in the third quarter valued at about $204,000. FMR LLC grew its holdings in shares of 10x Genomics by 2.7% in the third quarter. FMR LLC now owns 13,367,979 shares of the company’s stock valued at $301,849,000 after purchasing an additional 357,470 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in 10x Genomics during the third quarter worth about $531,000. Finally, Rockefeller Capital Management L.P. raised its stake in 10x Genomics by 37.2% during the third quarter. Rockefeller Capital Management L.P. now owns 17,504 shares of the company’s stock worth $395,000 after purchasing an additional 4,746 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on TXG. JPMorgan Chase & Co. dropped their price target on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. UBS Group cut their target price on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Stifel Nicolaus decreased their price target on 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Barclays lowered their price target on 10x Genomics from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of 10x Genomics in a report on Saturday, March 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, 10x Genomics has an average rating of “Hold” and an average price target of $20.21.

Insider Buying and Selling at 10x Genomics

In related news, insider Benjamin J. Hindson sold 4,573 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $50,623.11. Following the completion of the transaction, the insider now owns 335,324 shares in the company, valued at approximately $3,712,036.68. The trade was a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Serge Saxonov sold 5,092 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $11.07, for a total value of $56,368.44. Following the completion of the sale, the chief executive officer now owns 879,482 shares in the company, valued at approximately $9,735,865.74. This represents a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.03% of the stock is owned by corporate insiders.

10x Genomics Stock Down 2.7 %

10x Genomics stock opened at $9.16 on Monday. 10x Genomics, Inc. has a 52-week low of $8.92 and a 52-week high of $37.86. The firm has a market cap of $1.12 billion, a PE ratio of -6.03 and a beta of 1.93. The company’s 50 day moving average is $12.12 and its two-hundred day moving average is $15.04.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data 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 net margin of 29.90% and a negative return on equity of 25.40%. On average, equities research analysts anticipate that 10x Genomics, Inc. will post -1.43 earnings per share for the current fiscal year.

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.