PDT Partners LLC Reduces Stock Position in 10x Genomics, Inc. (NASDAQ:TXG)

PDT Partners LLC reduced its stake in 10x Genomics, Inc. (NASDAQ:TXG) by 51.0% in the third quarter, Holdings Channel.com reports. The fund owned 128,445 shares of the company’s stock after selling 133,435 shares during the period. PDT Partners LLC’s holdings in 10x Genomics were worth $2,900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds 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 worth $1,971,000 after purchasing an additional 86,967 shares in the last quarter. Lecap Asset Management Ltd. bought a new position in shares of 10x Genomics in the third quarter worth $877,000. Marshall Wace LLP purchased a new stake in shares of 10x Genomics in the second quarter worth $689,000. Benjamin F. Edwards & Company Inc. raised its position in shares of 10x Genomics by 10,124.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 44,785 shares of the company’s stock worth $871,000 after buying an additional 44,347 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new position in 10x Genomics during the second quarter worth about $11,612,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

10x Genomics Price Performance

TXG opened at $15.90 on Friday. The stock’s 50 day simple moving average is $16.89 and its 200 day simple moving average is $19.60. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of -10.39 and a beta of 1.87. 10x Genomics, Inc. has a 1 year low of $12.95 and a 1 year high of $57.90.

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

Analysts Set New Price Targets

Several research firms have weighed in on TXG. UBS Group lowered their price target on 10x Genomics from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Morgan Stanley dropped their target price on shares of 10x Genomics from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. Leerink Partnrs raised shares of 10x Genomics to a “strong-buy” rating in a research note on Tuesday, September 3rd. Barclays lowered their price objective on shares of 10x Genomics from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Finally, Canaccord Genuity Group cut their target price on shares of 10x Genomics from $32.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.19.

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.