State Street Corp Raises Stock Holdings in 10x Genomics, Inc. (NASDAQ:TXG)

State Street Corp lifted its stake in 10x Genomics, Inc. (NASDAQ:TXG) by 7.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,750,643 shares of the company’s stock after purchasing an additional 116,534 shares during the period. State Street Corp’s holdings in 10x Genomics were worth $39,530,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. KBC Group NV grew its holdings in 10x Genomics by 38.8% during the 3rd quarter. KBC Group NV now owns 3,225 shares of the company’s stock worth $73,000 after acquiring an additional 902 shares in the last quarter. Allspring Global Investments Holdings LLC boosted 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 valued at $32,000 after purchasing an additional 939 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of 10x Genomics by 53.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,910 shares of the company’s stock valued at $66,000 after buying an additional 1,012 shares in the last quarter. Blue Trust Inc. lifted its position in 10x Genomics by 136.5% during the third quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock valued at $40,000 after acquiring an additional 1,025 shares during the last quarter. Finally, GAMMA Investing LLC increased 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 purchasing an additional 1,265 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

10x Genomics Price Performance

Shares of 10x Genomics stock opened at $14.04 on Friday. 10x Genomics, Inc. has a 12 month low of $12.95 and a 12 month high of $57.78. The business has a 50 day simple moving average of $15.29 and a two-hundred day simple moving average of $18.71. The stock has a market capitalization of $1.70 billion, a P/E ratio of -9.18 and a beta of 1.84.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. The business had revenue of $151.65 million during 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%. The business’s revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.51) earnings per share. As a group, research analysts anticipate that 10x Genomics, Inc. will post -1.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on TXG shares. Canaccord Genuity Group decreased their price target on 10x Genomics from $32.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Barclays cut their target price on 10x Genomics from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. UBS Group reduced their price objective on 10x Genomics from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. 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. Finally, Stephens reaffirmed an “overweight” rating and set a $30.00 price objective on shares of 10x Genomics in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, 10x Genomics currently has an average rating of “Moderate Buy” and a consensus price target of $25.14.

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.