CIBC Asset Management Inc Sells 79,321 Shares of 10x Genomics, Inc. (NASDAQ:TXG)

CIBC Asset Management Inc lowered its position in 10x Genomics, Inc. (NASDAQ:TXG) by 83.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,938 shares of the company’s stock after selling 79,321 shares during the period. CIBC Asset Management Inc’s holdings in 10x Genomics were worth $360,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. ARK Investment Management LLC boosted its stake 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 in the last quarter. Vanguard Group Inc. lifted its holdings in shares of 10x Genomics by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,101,536 shares of the company’s stock valued at $341,581,000 after purchasing an additional 90,204 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of 10x Genomics by 3.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,373,212 shares of the company’s stock worth $143,907,000 after purchasing an additional 230,145 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of 10x Genomics by 69.6% in the 2nd 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 during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in 10x Genomics by 17.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,657,227 shares of the company’s stock valued at $137,257,000 after buying an additional 553,053 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

10x Genomics Stock Up 0.5 %

10x Genomics stock opened at $13.38 on Friday. 10x Genomics, Inc. has a 52-week low of $12.95 and a 52-week high of $57.90. The company has a market cap of $1.62 billion, a P/E ratio of -8.75 and a beta of 1.87. The business has a 50-day simple moving average of $17.73 and a two-hundred day simple moving average of $20.06.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.04. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. The company had revenue of $151.65 million during the quarter, compared to analyst estimates of $158.84 million. During the same period in the previous year, the business posted ($0.51) earnings per share. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. Research analysts anticipate that 10x Genomics, Inc. will post -1.4 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on TXG. Leerink Partnrs raised 10x Genomics to a “strong-buy” rating in a research note on Tuesday, September 3rd. Leerink Partners began coverage on shares of 10x Genomics in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price objective on the stock. Canaccord Genuity Group reduced their price objective on shares of 10x Genomics from $32.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Stephens reiterated an “overweight” rating and issued a $30.00 target price on shares of 10x Genomics in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group reduced their price target on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a research report on Wednesday, October 30th. One 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $29.19.

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.