Nikko Asset Management Americas Inc. Reduces Stock Position in 10x Genomics, Inc. (NASDAQ:TXG)

Nikko Asset Management Americas Inc. lessened its holdings in 10x Genomics, Inc. (NASDAQ:TXG) by 10.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,713,484 shares of the company’s stock after selling 659,728 shares during the quarter. Nikko Asset Management Americas Inc. owned approximately 4.72% of 10x Genomics worth $82,046,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. KBC Group NV increased its holdings in 10x Genomics by 38.8% in the third quarter. KBC Group NV now owns 3,225 shares of the company’s stock valued at $73,000 after buying an additional 902 shares during the last quarter. Atria Wealth Solutions Inc. increased its holdings in 10x Genomics by 9.6% in the fourth quarter. Atria Wealth Solutions Inc. now owns 10,788 shares of the company’s stock valued at $155,000 after buying an additional 943 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in 10x Genomics by 53.3% in the third quarter. First Horizon Advisors Inc. now owns 2,910 shares of the company’s stock valued at $66,000 after buying an additional 1,012 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of 10x Genomics by 73.1% during the fourth quarter. Blue Trust Inc. now owns 3,075 shares of the company’s stock worth $44,000 after purchasing an additional 1,299 shares during the last quarter. Finally, Sound Income Strategies LLC grew its holdings in shares of 10x Genomics by 65.2% during the fourth quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock worth $48,000 after purchasing an additional 1,330 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on TXG shares. UBS Group dropped their price objective on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Stifel Nicolaus dropped their price objective on 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Morgan Stanley dropped their price objective on 10x Genomics from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Leerink Partners lowered 10x Genomics from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $25.00 to $12.00 in a report on Thursday, February 13th. Finally, Citigroup dropped their price objective on 10x Genomics from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. One research 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’s stock. According to data from MarketBeat, 10x Genomics has a consensus rating of “Hold” and a consensus price target of $20.21.

10x Genomics Stock Up 4.7 %

Shares of NASDAQ:TXG opened at $10.34 on Monday. The company has a market cap 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. The company has a 50-day moving average price of $13.22 and a 200 day moving average price of $15.92.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data 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 net margin of 29.90% and a negative return on equity of 25.40%. Analysts expect that 10x Genomics, Inc. will post -1.43 EPS for the current year.

Insider Activity at 10x Genomics

In other news, insider Benjamin J. Hindson sold 4,573 shares of 10x Genomics 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 completion of the sale, the insider now directly owns 335,324 shares in the company, valued at approximately $3,712,036.68. This trade represents a 1.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alan Mateo acquired 40,000 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were acquired at an average cost of $11.14 per share, with a total value of $445,600.00. Following the completion of the purchase, the director now owns 61,691 shares in the company, valued at approximately $687,237.74. This represents a 184.41 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 10.03% of the stock is owned by insiders.

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.