Fmr LLC Buys 357,470 Shares of 10x Genomics, Inc. (NASDAQ:TXG)

Fmr LLC grew its stake in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 2.7% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 13,367,979 shares of the company’s stock after acquiring an additional 357,470 shares during the quarter. Fmr LLC owned about 11.04% of 10x Genomics worth $301,849,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. ARK Investment Management LLC increased its stake in 10x Genomics by 48.2% in the second quarter. ARK Investment Management LLC now owns 9,313,763 shares of the company’s stock valued at $181,153,000 after acquiring an additional 3,029,951 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of 10x Genomics by 69.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,143,067 shares of the company’s stock valued at $119,483,000 after purchasing an additional 2,521,289 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new position in shares of 10x Genomics during the 2nd quarter worth $11,612,000. Algert Global LLC lifted its position in shares of 10x Genomics by 214.5% during the 3rd quarter. Algert Global LLC now owns 370,958 shares of the company’s stock worth $8,376,000 after buying an additional 252,994 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in 10x Genomics by 3.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,373,212 shares of the company’s stock valued at $143,907,000 after acquiring an additional 230,145 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Stephens restated an “overweight” rating and issued a $30.00 price target on shares of 10x Genomics in a research note on Thursday, October 10th. The Goldman Sachs Group cut their target price on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating on the stock in a research report on Wednesday, October 30th. Leerink Partners assumed coverage on shares of 10x Genomics in a report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price target for the company. JPMorgan Chase & Co. cut their price objective on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a report 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 report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, 10x Genomics presently has an average rating of “Moderate Buy” and a consensus target price of $29.19.

10x Genomics Stock Performance

Shares of NASDAQ TXG opened at $15.90 on Friday. 10x Genomics, Inc. has a 52-week low of $12.95 and a 52-week high of $57.90. The company’s 50 day moving average price is $16.89 and its 200-day moving average price is $19.55. The company has a market capitalization of $1.92 billion, a P/E ratio of -10.39 and a beta of 1.87.

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