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

The Manufacturers Life Insurance Company cut its position in 10x Genomics, Inc. (NASDAQ:TXG) by 7.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 131,770 shares of the company’s stock after selling 10,053 shares during the period. The Manufacturers Life Insurance Company’s holdings in 10x Genomics were worth $2,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of TXG. ARK Investment Management LLC lifted its holdings in 10x Genomics by 15.4% in the 3rd quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company’s stock worth $242,743,000 after purchasing an additional 1,436,582 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of 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 buying an additional 230,145 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of 10x Genomics by 69.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,143,067 shares of the company’s stock worth $119,483,000 after buying an additional 2,521,289 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new position in shares of 10x Genomics in the second quarter worth $11,612,000. Finally, Squarepoint Ops LLC boosted its position 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 acquiring an additional 5,720 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

10x Genomics Stock Up 4.2 %

TXG stock opened at $15.87 on Friday. 10x Genomics, Inc. has a twelve month low of $12.95 and a twelve month high of $57.90. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of -10.37 and a beta of 1.84. The firm’s fifty day simple moving average is $16.25 and its two-hundred day simple moving average is $19.26.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.30) EPS 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 the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.51) EPS. As a group, equities research analysts expect that 10x Genomics, Inc. will post -1.4 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on TXG shares. The Goldman Sachs Group reduced their price target 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. Citigroup decreased their target price on 10x Genomics from $35.00 to $23.00 and set a “buy” rating on the stock in a research 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 Partnrs raised 10x Genomics to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Leerink Partners started coverage on shares of 10x Genomics in a report on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.