Cynosure Group LLC Makes New $581,000 Investment in 10x Genomics, Inc. (NASDAQ:TXG)

Cynosure Group LLC bought a new position in 10x Genomics, Inc. (NASDAQ:TXG) in the third quarter, Holdings Channel.com reports. The firm bought 25,745 shares of the company’s stock, valued at approximately $581,000.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of 10x Genomics by 451.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock valued at $35,000 after acquiring an additional 1,265 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in 10x Genomics in the 3rd quarter worth about $35,000. Allspring Global Investments Holdings LLC raised its position in 10x Genomics by 134.5% in 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 during the last quarter. Blue Trust Inc. boosted its stake 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. Finally, First Horizon Advisors Inc. grew its holdings in shares of 10x Genomics by 74.1% during the second quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock worth $37,000 after purchasing an additional 808 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TXG has been the subject of a number of research reports. Canaccord Genuity Group dropped their price objective on shares of 10x Genomics from $32.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Citigroup decreased their price target on shares of 10x Genomics from $35.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Leerink Partnrs upgraded shares of 10x Genomics to a “strong-buy” rating in a report on Tuesday, September 3rd. UBS Group reduced their price objective on shares of 10x Genomics from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Finally, Morgan Stanley lowered their target price on 10x Genomics from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.19.

10x Genomics Price Performance

NASDAQ TXG opened at $15.48 on Thursday. 10x Genomics, Inc. has a one year low of $12.95 and a one year high of $57.90. The business has a 50 day simple moving average of $17.18 and a 200 day simple moving average of $19.71. The stock has a market capitalization of $1.87 billion, a P/E ratio of -10.12 and a beta of 1.87.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.30) EPS for the quarter, topping 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 the consensus estimate of $158.84 million. During the same quarter last year, the firm posted ($0.51) EPS. The company’s quarterly revenue was down 1.3% on a year-over-year basis. Equities analysts expect 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.