Counterpoint Mutual Funds LLC Invests $742,000 in 10x Genomics, Inc. (NASDAQ:TXG)

Counterpoint Mutual Funds LLC acquired a new stake in shares of 10x Genomics, Inc. (NASDAQ:TXG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 51,658 shares of the company’s stock, valued at approximately $742,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new position in shares of 10x Genomics in the fourth quarter worth approximately $26,308,000. Point72 Asset Management L.P. bought a new position in 10x Genomics in the 3rd quarter worth $27,778,000. ARK Investment Management LLC increased its stake in 10x Genomics by 11.1% in the 4th quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock worth $171,517,000 after buying an additional 1,193,712 shares in the last quarter. SVB Wealth LLC bought a new stake in 10x Genomics during the fourth quarter valued at about $7,505,000. Finally, FMR LLC raised its holdings in 10x Genomics by 2.7% during the third quarter. FMR LLC now owns 13,367,979 shares of the company’s stock valued at $301,849,000 after acquiring an additional 357,470 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at 10x Genomics

In other news, Director Alan Mateo purchased 40,000 shares of the stock in a transaction dated Friday, February 21st. The shares were acquired at an average cost of $11.14 per share, for a total transaction of $445,600.00. Following the acquisition, the director now owns 61,691 shares of the company’s stock, valued at approximately $687,237.74. This represents a 184.41 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Benjamin J. Hindson sold 4,573 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 335,324 shares of the company’s stock, valued at $3,712,036.68. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. 10.03% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on TXG. Barclays decreased their target price on 10x Genomics from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Stifel Nicolaus reduced their price objective on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Citigroup cut their target price on shares of 10x Genomics from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Leerink Partnrs cut shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.21.

10x Genomics Stock Performance

Shares of TXG stock opened at $10.34 on Monday. The stock has a 50 day moving average price of $13.22 and a 200 day moving average price of $15.92. The firm has a market capitalization of $1.26 billion, a P/E ratio of -6.80 and a beta of 1.93. 10x Genomics, Inc. has a 52-week low of $9.27 and a 52-week high of $39.30.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Wednesday, February 12th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, sell-side analysts forecast that 10x Genomics, Inc. will post -1.43 EPS for the current 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.