HighTower Advisors LLC Purchases New Position in 10x Genomics, Inc. (NASDAQ:TXG)

HighTower Advisors LLC acquired a new position in 10x Genomics, Inc. (NASDAQ:TXG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 19,100 shares of the company’s stock, valued at approximately $430,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC lifted its position in shares of 10x Genomics by 2.7% during the 3rd quarter. FMR LLC now owns 13,367,979 shares of the company’s stock valued at $301,849,000 after buying an additional 357,470 shares in the last quarter. ARK Investment Management LLC raised its position in 10x Genomics by 15.4% during the third quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company’s stock worth $242,743,000 after acquiring an additional 1,436,582 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in 10x Genomics by 3.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,373,212 shares of the company’s stock valued at $143,907,000 after purchasing an additional 230,145 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in shares of 10x Genomics in the second quarter valued at about $11,612,000. Finally, Squarepoint Ops LLC increased its stake in shares of 10x Genomics by 1.1% during the second quarter. Squarepoint Ops LLC now owns 515,883 shares of the company’s stock worth $10,034,000 after purchasing an additional 5,720 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on TXG. JPMorgan Chase & Co. cut their price objective on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. UBS Group cut their price target on 10x Genomics from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Leerink Partners began coverage on 10x Genomics in a research note on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price objective on the stock. Barclays cut their target price on 10x Genomics from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Finally, Citigroup reduced their price target on 10x Genomics from $35.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.14.

10x Genomics Trading Up 3.2 %

TXG stock opened at $14.04 on Friday. The company’s 50-day moving average price is $15.29 and its 200 day moving average price is $18.71. 10x Genomics, Inc. has a 52 week low of $12.95 and a 52 week high of $57.78. The company has a market cap of $1.70 billion, a P/E ratio of -9.18 and a beta of 1.84.

10x Genomics (NASDAQ:TXG) last posted 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 analyst estimates of $158.84 million. 10x Genomics had a negative return on equity of 25.07% and a negative net margin of 28.93%. 10x Genomics’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.51) earnings per share. On average, equities research analysts expect that 10x Genomics, Inc. will post -1.4 earnings per share for the current year.

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.