Pinnacle Advisory Group Inc. Takes Position in 10x Genomics, Inc. (NASDAQ:TXG)

Pinnacle Advisory Group Inc. acquired a new position in 10x Genomics, Inc. (NASDAQ:TXG) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,179 shares of the company’s stock, valued at approximately $937,000.

A number of other institutional investors and hedge funds have also made changes to their positions in TXG. First Trust Advisors LP increased its position in shares of 10x Genomics by 539.6% in the fourth quarter. First Trust Advisors LP now owns 315,594 shares of the company’s stock valued at $44,688,000 after acquiring an additional 266,253 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in shares of 10x Genomics during the 4th quarter worth approximately $1,468,000. California Public Employees Retirement System boosted its holdings in shares of 10x Genomics by 11.3% in the 4th quarter. California Public Employees Retirement System now owns 140,142 shares of the company’s stock valued at $19,844,000 after buying an additional 14,241 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of 10x Genomics by 55.3% in the fourth quarter. Treasurer of the State of North Carolina now owns 32,720 shares of the company’s stock valued at $4,633,000 after buying an additional 11,650 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new position in 10x Genomics during the fourth quarter worth $2,690,000. Institutional investors and hedge funds own 68.71% of the company’s stock.

Shares of 10x Genomics stock opened at $191.16 on Friday. The firm has a market cap of $20.99 billion, a PE ratio of -37.93 and a beta of 1.26. 10x Genomics, Inc. has a twelve month low of $80.90 and a twelve month high of $203.25. The business has a 50-day simple moving average of $176.92.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Tuesday, May 4th. The company reported ($0.11) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.16. The company had revenue of $105.82 million for the quarter, compared to analysts’ expectations of $102.75 million. 10x Genomics had a negative net margin of 160.22% and a negative return on equity of 13.90%. As a group, equities research analysts anticipate that 10x Genomics, Inc. will post -0.75 earnings per share for the current fiscal year.

In other 10x Genomics news, CEO Serge Saxonov sold 15,000 shares of the stock in a transaction dated Tuesday, April 6th. The shares were sold at an average price of $195.81, for a total transaction of $2,937,150.00. Following the sale, the chief executive officer now directly owns 885,676 shares in the company, valued at $173,424,217.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Justin J. Mcanear sold 10,000 shares of the firm’s stock in a transaction dated Thursday, April 1st. The shares were sold at an average price of $184.52, for a total transaction of $1,845,200.00. Following the completion of the transaction, the chief financial officer now directly owns 40,357 shares in the company, valued at $7,446,673.64. The disclosure for this sale can be found here. Insiders sold a total of 225,735 shares of company stock valued at $41,012,656 over the last ninety days. Insiders own 11.57% of the company’s stock.

TXG has been the subject of a number of analyst reports. Zacks Investment Research raised shares of 10x Genomics from a “sell” rating to a “hold” rating in a research report on Thursday, March 25th. William Blair assumed coverage on 10x Genomics in a research note on Monday, March 15th. They issued an “outperform” rating on the stock. Cowen lifted their price objective on shares of 10x Genomics from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, February 18th. Morgan Stanley increased their price objective on shares of 10x Genomics from $145.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, February 25th. Finally, Citigroup lifted their target price on shares of 10x Genomics from $195.00 to $240.00 in a report on Thursday, February 18th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $183.70.

10x Genomics Company Profile

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in North America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium and chromium connect instruments, microfluidic chips, slides, reagents, and other consumables products.

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Institutional Ownership by Quarter for 10x Genomics (NASDAQ:TXG)

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