Commerce Bank Raises Stock Holdings in 10x Genomics, Inc. (NASDAQ:TXG)

Commerce Bank increased its position in 10x Genomics, Inc. (NASDAQ:TXG) by 17.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,296 shares of the company’s stock after purchasing an additional 1,946 shares during the period. Commerce Bank’s holdings in 10x Genomics were worth $300,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in shares of 10x Genomics by 134.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,637 shares of the company’s stock worth $32,000 after acquiring an additional 939 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of 10x Genomics by 451.8% in the third quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock worth $35,000 after acquiring an additional 1,265 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of 10x Genomics in the third quarter worth $35,000. First Horizon Advisors Inc. grew its stake in shares of 10x Genomics by 74.1% in the second quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock worth $37,000 after acquiring an additional 808 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of 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 purchasing an additional 1,025 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TXG shares. Leerink Partners started coverage on 10x Genomics in a report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price target on the stock. Barclays lowered their price target on 10x Genomics from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. UBS Group lowered their target price on 10x Genomics from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Canaccord Genuity Group lowered their target price on 10x Genomics from $32.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Finally, Morgan Stanley lowered their target price on 10x Genomics from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, 10x Genomics presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.19.

10x Genomics Stock Performance

Shares of TXG stock opened at $15.48 on Thursday. The stock’s 50-day simple moving average is $17.18 and its 200-day simple moving average is $19.71. The firm has a market capitalization of $1.87 billion, a PE ratio of -10.12 and a beta of 1.87. 10x Genomics, Inc. has a fifty-two week low of $12.95 and a fifty-two week high of $57.90.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Tuesday, October 29th. The company reported ($0.30) EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $158.84 million. During the same quarter in the prior year, the business earned ($0.51) earnings per share. The company’s revenue was down 1.3% compared to the same quarter last year. Sell-side analysts forecast that 10x Genomics, Inc. will post -1.4 earnings per share for the current year.

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.