Point72 Asset Management L.P. Invests $27.78 Million in 10x Genomics, Inc. (NASDAQ:TXG)

Point72 Asset Management L.P. bought a new position in shares of 10x Genomics, Inc. (NASDAQ:TXG - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,230,189 shares of the company's stock, valued at approximately $27,778,000. Point72 Asset Management L.P. owned 1.02% of 10x Genomics at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC lifted 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 valued at $1,971,000 after buying an additional 86,967 shares in the last quarter. Mirador Capital Partners LP boosted its stake in shares of 10x Genomics by 115.0% in the second quarter. Mirador Capital Partners LP now owns 61,967 shares of the company's stock worth $1,205,000 after acquiring an additional 33,142 shares during the last quarter. SteelPeak Wealth LLC acquired a new stake in shares of 10x Genomics in the second quarter worth approximately $413,000. 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 worth $119,483,000 after purchasing an additional 2,521,289 shares in the last quarter. Finally, First Horizon Advisors Inc. raised 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 valued at $37,000 after purchasing an additional 808 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TXG shares. Leerink Partnrs raised shares of 10x Genomics to a "strong-buy" rating in a research note on Tuesday, September 3rd. Morgan Stanley dropped 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 note on Tuesday, August 13th. Canaccord Genuity Group cut their price objective on shares of 10x Genomics from $32.00 to $20.00 and set a "buy" rating for the company in a report on Thursday, October 10th. Stephens restated an "overweight" rating and set a $30.00 target price on shares of 10x Genomics in a report on Thursday, October 10th. Finally, UBS Group cut their price target on 10x Genomics from $25.00 to $20.00 and set a "neutral" rating for the company in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $29.19.

10x Genomics Stock Up 4.2 %

TXG stock traded up $0.64 during midday trading on Friday, hitting $15.87. The company's stock had a trading volume of 1,149,943 shares, compared to its average volume of 1,742,373. The firm has a 50-day simple moving average of $16.38 and a 200-day simple moving average of $19.32. The firm has a market capitalization of $1.92 billion, a P/E ratio of -9.95 and a beta of 1.84. 10x Genomics, Inc. has a 52-week low of $12.95 and a 52-week high of $57.90.

10x Genomics (NASDAQ:TXG - Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share 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 analysts' expectations of $158.84 million. During the same quarter last year, the company earned ($0.51) earnings per share. The firm's revenue was down 1.3% compared to the same quarter last year. On average, sell-side analysts expect that 10x Genomics, Inc. will post -1.4 earnings per share for the current fiscal year.

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.