Entropy Technologies LP Grows Stock Holdings in 10x Genomics, Inc. (NASDAQ:TXG)

Entropy Technologies LP raised its position in 10x Genomics, Inc. (NASDAQ:TXG) by 285.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,595 shares of the company’s stock after acquiring an additional 27,844 shares during the quarter. Entropy Technologies LP’s holdings in 10x Genomics were worth $540,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TXG. Mirae Asset Global Investments Co. Ltd. bought a new position in 10x Genomics during the fourth quarter valued at approximately $52,000. China Universal Asset Management Co. Ltd. bought a new position in 10x Genomics during the fourth quarter valued at approximately $326,000. KBC Group NV lifted its position in 10x Genomics by 57.3% during the fourth quarter. KBC Group NV now owns 5,072 shares of the company’s stock valued at $73,000 after purchasing an additional 1,847 shares during the period. Blue Trust Inc. lifted its position in 10x Genomics by 73.1% during the fourth quarter. Blue Trust Inc. now owns 3,075 shares of the company’s stock valued at $44,000 after purchasing an additional 1,299 shares during the period. Finally, Sound Income Strategies LLC lifted its position in 10x Genomics by 65.2% during the fourth quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock valued at $48,000 after purchasing an additional 1,330 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

10x Genomics Stock Up 1.5 %

NASDAQ:TXG opened at $12.00 on Thursday. The company has a market capitalization of $1.45 billion, a PE ratio of -7.84 and a beta of 1.85. 10x Genomics, Inc. has a 52-week low of $11.55 and a 52-week high of $51.22. The stock has a fifty day simple moving average of $14.82 and a 200-day simple moving average of $17.47.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.08). 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. As a group, equities analysts anticipate that 10x Genomics, Inc. will post -1.43 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. JPMorgan Chase & Co. reduced their target price 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. The Goldman Sachs Group reduced 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. UBS Group reduced their price objective on shares of 10x Genomics from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Morgan Stanley cut their target price on shares of 10x Genomics from $30.00 to $28.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, Citigroup cut their target price on shares of 10x Genomics from $35.00 to $23.00 and set a “buy” 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 given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.79.

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.