10x Genomics, Inc. (NASDAQ:TXG) Stock Position Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in 10x Genomics, Inc. (NASDAQ:TXG) by 355.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 355,488 shares of the company’s stock after acquiring an additional 277,355 shares during the period. JPMorgan Chase & Co. owned 0.29% of 10x Genomics worth $8,027,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in TXG. GAMMA Investing LLC boosted its position in shares of 10x Genomics by 451.8% during the third quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock worth $35,000 after buying an additional 1,265 shares during the period. Capital Performance Advisors LLP acquired a new position in 10x Genomics during the 3rd quarter worth $35,000. Blue Trust Inc. grew its stake in shares of 10x Genomics by 136.5% in the third quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock worth $40,000 after purchasing an additional 1,025 shares in the last quarter. Sound Income Strategies LLC acquired a new position in shares of 10x Genomics during the third quarter valued at $46,000. Finally, Venturi Wealth Management LLC raised its stake in shares of 10x Genomics by 1,108.9% during the third quarter. Venturi Wealth Management LLC now owns 2,442 shares of the company’s stock valued at $55,000 after purchasing an additional 2,240 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

10x Genomics Stock Down 1.7 %

Shares of 10x Genomics stock opened at $15.44 on Wednesday. 10x Genomics, Inc. has a 12 month low of $12.95 and a 12 month high of $51.22. The stock has a market cap of $1.87 billion, a PE ratio of -10.09 and a beta of 1.83. The business has a fifty day simple moving average of $15.02 and a 200-day simple moving average of $18.02.

10x Genomics (NASDAQ:TXG) last released its earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.04. The company had revenue of $151.65 million for the quarter, compared to analysts’ expectations of $158.84 million. 10x Genomics had a negative return on equity of 25.07% and a negative net margin of 28.93%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.51) EPS. Analysts expect that 10x Genomics, Inc. will post -1.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TXG shares. Citigroup lowered their target price on shares of 10x Genomics from $35.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley cut their price objective on 10x Genomics from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Monday. UBS Group dropped their price target on shares of 10x Genomics from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Canaccord Genuity Group reduced their price objective on shares of 10x Genomics from $32.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Finally, The Goldman Sachs Group dropped their target price on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating on the stock in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $23.86.

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.