Primecap Management Co. CA Buys 108,600 Shares of 10x Genomics, Inc. (NASDAQ:TXG)

Primecap Management Co. CA raised its holdings in 10x Genomics, Inc. (NASDAQ:TXG - Free Report) by 58.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 295,400 shares of the company's stock after purchasing an additional 108,600 shares during the period. Primecap Management Co. CA owned approximately 0.24% of 10x Genomics worth $6,670,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its position in 10x Genomics by 134.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,637 shares of the company's stock valued at $32,000 after purchasing an additional 939 shares in the last quarter. GAMMA Investing LLC boosted its stake in 10x Genomics by 451.8% in the third quarter. GAMMA Investing LLC now owns 1,545 shares of the company's stock valued at $35,000 after buying an additional 1,265 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in 10x Genomics during the 3rd quarter worth approximately $35,000. First Horizon Advisors Inc. grew its stake in shares of 10x Genomics by 74.1% during the second quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company's stock worth $37,000 after buying an additional 808 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of 10x Genomics by 501.7% during the 1st quarter. Covestor Ltd now owns 1,047 shares of the company's stock valued at $39,000 after acquiring an additional 873 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on TXG. Morgan Stanley reduced their price target on 10x Genomics from $50.00 to $46.00 and set an "overweight" rating on the stock in a report on Tuesday, August 13th. JPMorgan Chase & Co. dropped their price target on shares of 10x Genomics from $20.00 to $14.00 and set a "neutral" rating for the company in a research note on Wednesday, October 30th. UBS Group reduced their price objective on shares of 10x Genomics from $25.00 to $20.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 30th. Leerink Partners began coverage on 10x Genomics in a research report on Tuesday, September 3rd. They set an "outperform" rating and a $35.00 target price for the company. Finally, Stephens reissued an "overweight" rating and issued a $30.00 price target on shares of 10x Genomics in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.19.

10x Genomics Price Performance

Shares of NASDAQ:TXG traded up $1.02 during midday trading on Friday, hitting $14.31. 5,631,208 shares of the company's stock were exchanged, compared to its average volume of 2,044,426. 10x Genomics, Inc. has a 12 month low of $12.95 and a 12 month high of $57.90. The company has a market cap of $1.73 billion, a PE ratio of -9.35 and a beta of 1.87. The stock has a 50 day moving average price of $17.57 and a 200-day moving average price of $19.97.

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, beating analysts' consensus estimates 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 company had revenue of $151.65 million for the quarter, compared to analyst estimates of $158.84 million. During the same quarter last year, the company earned ($0.51) earnings per share. The company's revenue for the quarter was down 1.3% on a year-over-year basis. On average, analysts anticipate that 10x Genomics, Inc. will post -1.4 EPS for the current fiscal year.

10x Genomics 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.