Diversified Trust Co Invests $511,000 in 10x Genomics, Inc. (NASDAQ:TXG)

Diversified Trust Co bought a new stake in 10x Genomics, Inc. (NASDAQ:TXG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 35,602 shares of the company's stock, valued at approximately $511,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TXG. ARK Investment Management LLC increased its stake in shares of 10x Genomics by 15.4% in the third quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company's stock worth $242,743,000 after acquiring an additional 1,436,582 shares during the period. Point72 Asset Management L.P. purchased a new stake in 10x Genomics in the third quarter valued at $27,778,000. Deerfield Management Company L.P. Series C acquired a new stake in 10x Genomics during the 2nd quarter worth about $11,612,000. FMR LLC raised its stake in shares of 10x Genomics by 2.7% during the 3rd quarter. FMR LLC now owns 13,367,979 shares of the company's stock valued at $301,849,000 after buying an additional 357,470 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of 10x Genomics by 355.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 355,488 shares of the company's stock valued at $8,027,000 after buying an additional 277,355 shares during the period. Hedge funds and other institutional investors own 84.68% of the company's stock.

10x Genomics Stock Performance

Shares of TXG traded down $0.25 during trading hours on Friday, hitting $15.58. 1,490,984 shares of the stock were exchanged, compared to its average volume of 1,687,897. The stock's 50-day moving average price is $15.08 and its two-hundred day moving average price is $18.09. 10x Genomics, Inc. has a 12-month low of $12.95 and a 12-month high of $51.22. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -10.18 and a beta of 1.83.

10x Genomics (NASDAQ:TXG - Get Free Report) last posted its quarterly 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 firm had revenue of $151.65 million for the quarter, compared to analyst estimates of $158.84 million. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. 10x Genomics's quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the business 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 year.

Analysts Set New Price Targets

TXG has been the topic of several analyst reports. Canaccord Genuity Group dropped their target price on 10x Genomics from $32.00 to $20.00 and set a "buy" rating on the stock in a report on Thursday, October 10th. Stephens reaffirmed an "overweight" rating and set a $30.00 target price on shares of 10x Genomics in a report on Thursday, October 10th. Citigroup decreased their target price on shares of 10x Genomics from $35.00 to $23.00 and set a "buy" rating for the company in a research note on Wednesday, October 30th. UBS Group dropped their price target 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. Finally, Barclays decreased 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 report on Friday, November 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, 10x Genomics presently has an average rating of "Moderate Buy" and a consensus target price of $25.14.

About 10x Genomics

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.