Alberta Investment Management Corp Buys New Position in 10x Genomics, Inc. (NASDAQ:TXG)

Alberta Investment Management Corp bought a new stake in 10x Genomics, Inc. (NASDAQ:TXG) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 223,280 shares of the company’s stock, valued at approximately $3,206,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. KBC Group NV boosted its stake in shares of 10x Genomics by 38.8% in the third quarter. KBC Group NV now owns 3,225 shares of the company’s stock valued at $73,000 after purchasing an additional 902 shares during the period. Atria Wealth Solutions Inc. lifted its holdings in 10x Genomics by 9.6% during the 4th quarter. Atria Wealth Solutions Inc. now owns 10,788 shares of the company’s stock worth $155,000 after buying an additional 943 shares in the last quarter. First Horizon Advisors Inc. boosted its position in 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 during the period. Blue Trust Inc. grew its stake in shares of 10x Genomics by 136.5% in the third quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock worth $40,000 after acquiring an additional 1,025 shares in the last quarter. Finally, Sound Income Strategies LLC grew its stake in shares of 10x Genomics by 65.2% in the fourth quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock worth $48,000 after acquiring an additional 1,330 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TXG. Leerink Partners cut 10x Genomics from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $25.00 to $12.00 in a research note on Thursday, February 13th. Morgan Stanley reduced their price target on 10x Genomics from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. JPMorgan Chase & Co. lowered their price objective on 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Canaccord Genuity Group cut their target price on shares of 10x Genomics from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, Stifel Nicolaus decreased their price target on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, 10x Genomics has an average rating of “Hold” and an average price target of $20.57.

10x Genomics Trading Down 4.5 %

Shares of 10x Genomics stock opened at $11.56 on Friday. The company has a fifty day simple moving average of $14.37 and a 200-day simple moving average of $17.15. 10x Genomics, Inc. has a 12-month low of $10.80 and a 12-month high of $48.42. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -7.61 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.08). 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. On average, analysts forecast that 10x Genomics, Inc. will post -1.43 earnings per share for the current fiscal year.

10x Genomics Company 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.