Green Alpha Advisors LLC Buys New Position in 10x Genomics, Inc. (NASDAQ:TXG)

Green Alpha Advisors LLC acquired a new stake in shares of 10x Genomics, Inc. (NASDAQ:TXG) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 24,727 shares of the company’s stock, valued at approximately $355,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lecap Asset Management Ltd. purchased a new position in 10x Genomics during the third quarter valued at $877,000. Geode Capital Management LLC raised its stake in 10x Genomics by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company’s stock valued at $41,009,000 after buying an additional 42,777 shares during the last quarter. Marshall Wace LLP purchased a new stake in 10x Genomics during the second quarter valued at $689,000. Point72 Asset Management L.P. bought a new position in shares of 10x Genomics in the 3rd quarter worth approximately $27,778,000. Finally, Benjamin F. Edwards & Company Inc. increased its stake in shares of 10x Genomics by 10,124.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 44,785 shares of the company’s stock worth $871,000 after purchasing an additional 44,347 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TXG has been the topic of several recent analyst reports. Stephens restated an “overweight” rating and set a $30.00 price objective on shares of 10x Genomics in a research report on Thursday, October 10th. JPMorgan Chase & Co. reduced their price target on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Barclays dropped their price objective on shares of 10x Genomics from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Citigroup cut their price objective on 10x Genomics from $35.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, UBS Group cut their target price on shares of 10x Genomics from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.14.

10x Genomics Price Performance

10x Genomics stock opened at $15.58 on Monday. The stock has a market cap of $1.89 billion, a PE ratio of -10.18 and a beta of 1.83. The stock’s fifty day moving average is $15.08 and its two-hundred day moving average is $18.08. 10x Genomics, Inc. has a 1-year low of $12.95 and a 1-year high of $51.22.

10x Genomics (NASDAQ:TXG) last announced 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 firm had revenue of $151.65 million during the quarter, compared to the consensus estimate of $158.84 million. 10x Genomics had a negative return on equity of 25.07% and a negative net margin of 28.93%. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.51) earnings per share. On average, research analysts expect that 10x Genomics, Inc. will post -1.4 earnings per share for the current fiscal 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.