Algert Global LLC Buys 252,994 Shares of 10x Genomics, Inc. (NASDAQ:TXG)

Algert Global LLC lifted its stake in 10x Genomics, Inc. (NASDAQ:TXG) by 214.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 370,958 shares of the company’s stock after acquiring an additional 252,994 shares during the period. Algert Global LLC’s holdings in 10x Genomics were worth $8,376,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in TXG. ARK Investment Management LLC increased its position in 10x Genomics by 15.4% in the 3rd quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company’s stock worth $242,743,000 after buying an additional 1,436,582 shares during the period. Vanguard Group Inc. increased its position in shares of 10x Genomics by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,101,536 shares of the company’s stock valued at $341,581,000 after purchasing an additional 90,204 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in shares of 10x Genomics by 3.7% during 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 purchasing an additional 230,145 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of 10x Genomics by 69.6% during the second 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 period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of 10x Genomics by 17.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,657,227 shares of the company’s stock valued at $137,257,000 after purchasing an additional 553,053 shares during the period. 84.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TXG shares. 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. Leerink Partners started coverage on 10x Genomics in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price target on the stock. Leerink Partnrs raised 10x Genomics to a “strong-buy” rating in a research note on Tuesday, September 3rd. Citigroup decreased their price target on 10x Genomics from $35.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, UBS Group decreased their price target on 10x Genomics from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.19.

10x Genomics Stock Performance

10x Genomics stock opened at $14.31 on Friday. The firm has a market cap of $1.73 billion, a P/E ratio of -9.35 and a beta of 1.87. 10x Genomics, Inc. has a 52 week low of $12.95 and a 52 week high of $57.90. The business’s fifty day moving average is $17.57 and its two-hundred day moving average is $19.93.

10x Genomics (NASDAQ:TXG) last released its earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.04. The company 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% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.51) earnings per share. On average, equities research analysts predict 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.