10x Genomics, Inc. (NASDAQ:TXG) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC lowered its stake in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 85.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,973 shares of the company’s stock after selling 379,594 shares during the quarter. Fred Alger Management LLC’s holdings in 10x Genomics were worth $1,283,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Marshall Wace LLP acquired a new stake in shares of 10x Genomics in the second quarter worth approximately $689,000. Magnetar Financial LLC grew its stake in shares of 10x Genomics by 116.9% during the 2nd quarter. Magnetar Financial LLC now owns 195,762 shares of the company’s stock valued at $3,808,000 after buying an additional 105,500 shares during the period. Westwood Holdings Group Inc. increased its holdings in shares of 10x Genomics by 91.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 47,974 shares of the company’s stock worth $933,000 after buying an additional 22,950 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of 10x Genomics by 10,124.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 44,785 shares of the company’s stock worth $871,000 after buying an additional 44,347 shares during the period. Finally, Hsbc Holdings PLC purchased a new position in shares of 10x Genomics in the 2nd quarter worth $1,797,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Buying and Selling at 10x Genomics

In other news, CFO Justin J. Mcanear sold 2,961 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $66,711.33. Following the completion of the sale, the chief financial officer now owns 143,242 shares of the company’s stock, valued at $3,227,242.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Justin J. Mcanear sold 2,961 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $66,711.33. Following the completion of the sale, the chief financial officer now owns 143,242 shares of the company’s stock, valued at $3,227,242.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Benjamin J. Hindson sold 4,351 shares of the firm’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 sale, the insider now directly owns 345,704 shares of the company’s stock, valued at approximately $7,788,711.12. The disclosure for this sale can be found here. Insiders sold 14,061 shares of company stock valued at $316,794 over the last 90 days. 10.03% of the stock is owned by corporate insiders.

10x Genomics Stock Up 1.7 %

Shares of NASDAQ:TXG opened at $22.67 on Friday. 10x Genomics, Inc. has a 52-week low of $15.28 and a 52-week high of $57.90. The company has a 50 day moving average of $21.43 and a two-hundred day moving average of $24.69. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -10.17 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data 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 net margin of 37.90% and a negative return on equity of 28.23%. The company had revenue of $153.10 million during the quarter, compared to the consensus estimate of $150.90 million. On average, equities analysts anticipate that 10x Genomics, Inc. will post -1.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TXG has been the subject of a number of research reports. Bank of America dropped their price target on 10x Genomics from $36.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, July 18th. Wolfe Research restated a “peer perform” rating on shares of 10x Genomics in a report on Thursday, June 27th. Stephens restated an “overweight” rating and issued a $30.00 price target on shares of 10x Genomics in a report on Wednesday, September 4th. Guggenheim restated a “neutral” rating on shares of 10x Genomics in a report on Tuesday, June 25th. Finally, Morgan Stanley cut their price target on shares of 10x Genomics from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.60.

10x Genomics Company 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.