The Manufacturers Life Insurance Company Lowers Stock Holdings in 10x Genomics, Inc. (NASDAQ:TXG)

The Manufacturers Life Insurance Company lowered its stake in 10x Genomics, Inc. (NASDAQ:TXG) by 7.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 131,770 shares of the company’s stock after selling 10,053 shares during the period. The Manufacturers Life Insurance Company owned 0.11% of 10x Genomics worth $2,975,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its holdings in 10x Genomics by 134.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,637 shares of the company’s stock worth $32,000 after acquiring an additional 939 shares in the last quarter. GAMMA Investing LLC raised its position in shares of 10x Genomics by 451.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock worth $35,000 after purchasing an additional 1,265 shares during the last quarter. Capital Performance Advisors LLP bought a new position in 10x Genomics in the 3rd quarter worth about $35,000. First Horizon Advisors Inc. grew its position in 10x Genomics by 74.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock valued at $37,000 after purchasing an additional 808 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in 10x Genomics by 136.5% during the 3rd quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock valued at $40,000 after purchasing an additional 1,025 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

10x Genomics Stock Up 4.2 %

NASDAQ TXG opened at $15.87 on Friday. The company has a 50-day moving average price of $16.25 and a 200-day moving average price of $19.26. 10x Genomics, Inc. has a 52 week low of $12.95 and a 52 week high of $57.90. The firm has a market capitalization of $1.92 billion, a P/E ratio of -10.37 and a beta of 1.84.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Tuesday, October 29th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. The business had revenue of $151.65 million during the quarter, compared to analysts’ expectations of $158.84 million. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. The firm’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.51) earnings per share. As a group, equities research analysts anticipate that 10x Genomics, Inc. will post -1.4 EPS for the current year.

Analyst Upgrades and Downgrades

TXG has been the topic of several analyst reports. Leerink Partners started coverage on shares of 10x Genomics in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 target price on the stock. UBS Group lowered their price objective on 10x Genomics from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Stephens reissued an “overweight” rating and issued a $30.00 target price on shares of 10x Genomics in a report on Thursday, October 10th. Barclays lowered their price target on 10x Genomics from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Finally, Citigroup reduced their price objective on 10x Genomics from $35.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, 10x Genomics has a consensus rating of “Moderate Buy” and a consensus price target of $29.19.

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.