Point72 Asia Singapore Pte. Ltd. Makes New Investment in 10x Genomics, Inc. (NASDAQ:TXG)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in 10x Genomics, Inc. (NASDAQ:TXG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,088 shares of the company’s stock, valued at approximately $273,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. First Horizon Advisors Inc. grew its holdings in 10x Genomics by 74.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock valued at $37,000 after buying an additional 808 shares during the period. KBC Group NV grew its holdings in 10x Genomics by 38.8% in the third quarter. KBC Group NV now owns 3,225 shares of the company’s stock valued at $73,000 after purchasing an additional 902 shares during the period. Allspring Global Investments Holdings LLC increased its position in 10x Genomics by 134.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,637 shares of the company’s stock worth $32,000 after purchasing an additional 939 shares during the last quarter. Blue Trust Inc. raised its stake in 10x Genomics by 136.5% during 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 during the period. Finally, GAMMA Investing LLC boosted its holdings 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 valued at $35,000 after purchasing an additional 1,265 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analysts Set New Price Targets

TXG has been the topic of several research reports. Stephens reaffirmed an “overweight” rating and issued a $30.00 target price on shares of 10x Genomics in a research report on Thursday, October 10th. Leerink Partners started coverage on 10x Genomics in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price objective on the stock. Citigroup decreased their target price on 10x Genomics from $35.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. 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. Finally, The Goldman Sachs Group decreased their price objective on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.19.

10x Genomics Price Performance

NASDAQ:TXG opened at $15.82 on Wednesday. 10x Genomics, Inc. has a 1-year low of $12.95 and a 1-year high of $57.90. The stock has a market cap of $1.92 billion, a P/E ratio of -10.34 and a beta of 1.84. The firm has a 50-day moving average of $16.77 and a two-hundred day moving average of $19.44.

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

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.