State Street Corp Increases Stake in 10x Genomics, Inc. (NASDAQ:TXG)

State Street Corp boosted its holdings in shares of 10x Genomics, Inc. (NASDAQ:TXG - Free Report) by 7.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,750,643 shares of the company's stock after purchasing an additional 116,534 shares during the period. State Street Corp owned about 1.45% of 10x Genomics worth $39,530,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Stifel Financial Corp raised its stake in 10x Genomics by 56.2% in the third quarter. Stifel Financial Corp now owns 16,369 shares of the company's stock worth $370,000 after buying an additional 5,890 shares in the last quarter. Quantinno Capital Management LP raised its position in shares of 10x Genomics by 380.5% in the 3rd quarter. Quantinno Capital Management LP now owns 235,026 shares of the company's stock worth $5,307,000 after acquiring an additional 186,111 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of 10x Genomics in the 3rd quarter worth approximately $27,778,000. HighTower Advisors LLC purchased a new position in shares of 10x Genomics in the 3rd quarter valued at approximately $430,000. Finally, Cinctive Capital Management LP bought a new stake in shares of 10x Genomics during the third quarter valued at approximately $3,671,000. Hedge funds and other institutional investors own 84.68% of the company's stock.

10x Genomics Stock Performance

Shares of NASDAQ TXG traded up $0.43 during midday trading on Friday, hitting $14.04. 2,024,544 shares of the company's stock traded hands, compared to its average volume of 1,750,978. The firm has a fifty day moving average of $15.29 and a 200 day moving average of $18.71. 10x Genomics, Inc. has a 1 year low of $12.95 and a 1 year high of $57.78. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -9.18 and a beta of 1.84.

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

Analyst Ratings Changes

Several equities research analysts recently commented on TXG shares. The Goldman Sachs Group dropped their price objective on shares of 10x Genomics from $16.00 to $14.00 and set a "sell" rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. dropped their price target on 10x Genomics from $20.00 to $14.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 30th. Stephens restated an "overweight" rating and issued a $30.00 price target on shares of 10x Genomics in a research note on Thursday, October 10th. Canaccord Genuity Group lowered their price objective on 10x Genomics from $32.00 to $20.00 and set a "buy" rating for the company in a research note on Thursday, October 10th. Finally, UBS Group cut their target price 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 company. According to 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.