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

Cynosure Group LLC acquired a new stake in 10x Genomics, Inc. (NASDAQ:TXG) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 25,745 shares of the company’s stock, valued at approximately $581,000.

A number of other hedge funds and other institutional investors have also modified their holdings of TXG. Allspring Global Investments Holdings LLC grew its position in shares of 10x Genomics by 134.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,637 shares of the company’s stock valued at $32,000 after acquiring an additional 939 shares during the period. GAMMA Investing LLC lifted its stake in 10x Genomics by 451.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock valued at $35,000 after purchasing an additional 1,265 shares during the last quarter. Capital Performance Advisors LLP bought a new position in 10x Genomics during the third quarter worth about $35,000. First Horizon Advisors Inc. increased its position in 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 buying an additional 808 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in 10x Genomics by 136.5% in the third quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock valued at $40,000 after buying an additional 1,025 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

10x Genomics Stock Performance

Shares of NASDAQ TXG opened at $15.48 on Thursday. The stock has a market capitalization of $1.87 billion, a P/E ratio of -10.12 and a beta of 1.87. The stock’s fifty day moving average is $17.18 and its 200 day moving average is $19.71. 10x Genomics, Inc. has a 52 week low of $12.95 and a 52 week high of $57.90.

10x Genomics (NASDAQ:TXG) last released its earnings results on Tuesday, October 29th. The company reported ($0.30) 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 firm had revenue of $151.65 million for the quarter, compared to analyst estimates of $158.84 million. During the same period last year, the firm earned ($0.51) EPS. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. Equities research analysts forecast that 10x Genomics, Inc. will post -1.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Citigroup reduced their target price on 10x Genomics from $35.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. The Goldman Sachs Group decreased their price objective on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating on the stock in a report on Wednesday, October 30th. Stephens restated an “overweight” rating and set a $30.00 target price on shares of 10x Genomics in a research note on Thursday, October 10th. Barclays decreased their price target on shares of 10x Genomics from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Finally, Morgan Stanley cut their price objective on shares of 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 investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.19.

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.