Weiss Asset Management LP Makes New $1.04 Million Investment in 10x Genomics, Inc. (NASDAQ:TXG)

Weiss Asset Management LP bought a new position in shares of 10x Genomics, Inc. (NASDAQ:TXG - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 46,029 shares of the company's stock, valued at approximately $1,039,000.

A number of other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC increased its stake in 10x Genomics by 604.9% in the 2nd quarter. SG Americas Securities LLC now owns 101,344 shares of the company's stock worth $1,971,000 after purchasing an additional 86,967 shares in the last quarter. SteelPeak Wealth LLC purchased a new position in 10x Genomics in the 2nd quarter worth about $413,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in 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 worth $119,483,000 after purchasing an additional 2,521,289 shares in the last quarter. First Horizon Advisors Inc. increased its stake in 10x Genomics by 74.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company's stock worth $37,000 after purchasing an additional 808 shares in the last quarter. Finally, Slow Capital Inc. increased its stake in 10x Genomics by 20.2% in the 2nd quarter. Slow Capital Inc. now owns 105,526 shares of the company's stock worth $2,052,000 after purchasing an additional 17,761 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

10x Genomics Price Performance

TXG traded up $0.28 on Monday, hitting $16.15. The company had a trading volume of 1,468,121 shares, compared to its average volume of 1,741,216. The company's fifty day moving average price is $16.25 and its 200 day moving average price is $19.19. 10x Genomics, Inc. has a 1-year low of $12.95 and a 1-year high of $57.90. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -10.37 and a beta of 1.84.

10x Genomics (NASDAQ:TXG - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.04. 10x Genomics had a negative return on equity of 25.07% and a negative net margin of 28.93%. The firm had revenue of $151.65 million during the quarter, compared to analyst estimates of $158.84 million. During the same period in the previous year, the company earned ($0.51) EPS. The company's revenue for the quarter was down 1.3% on a year-over-year basis. On average, sell-side analysts forecast that 10x Genomics, Inc. will post -1.4 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TXG. Leerink Partners began coverage on 10x Genomics in a research note on Tuesday, September 3rd. They set an "outperform" rating and a $35.00 target price on the stock. Canaccord Genuity Group lowered their target price on 10x Genomics from $32.00 to $20.00 and set a "buy" rating on the stock in a research note on Thursday, October 10th. Stephens reaffirmed an "overweight" rating and set a $30.00 target price on shares of 10x Genomics in a research note on Thursday, October 10th. Citigroup lowered their target price 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, Barclays lowered their target price on 10x Genomics from $21.00 to $19.00 and set an "overweight" rating on the stock in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.