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

Point72 Asset Management L.P. purchased a new stake in shares of 10x Genomics, Inc. (NASDAQ:TXG) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,230,189 shares of the company’s stock, valued at approximately $27,778,000. Point72 Asset Management L.P. owned approximately 1.02% of 10x Genomics at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC lifted its position in 10x Genomics by 604.9% during the second quarter. SG Americas Securities LLC now owns 101,344 shares of the company’s stock valued at $1,971,000 after purchasing an additional 86,967 shares during the period. Mirador Capital Partners LP raised its stake in 10x Genomics by 115.0% during the 2nd quarter. Mirador Capital Partners LP now owns 61,967 shares of the company’s stock valued at $1,205,000 after buying an additional 33,142 shares during the last quarter. SteelPeak Wealth LLC bought a new position in 10x Genomics in the second quarter valued at about $413,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of 10x Genomics by 69.6% in the 2nd 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 during the period. Finally, First Horizon Advisors Inc. raised its position in 10x Genomics by 74.1% in the second quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock worth $37,000 after acquiring an additional 808 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

10x Genomics Price Performance

Shares of TXG opened at $15.23 on Friday. The business’s 50 day simple moving average is $16.53 and its 200-day simple moving average is $19.35. 10x Genomics, Inc. has a 1 year low of $12.95 and a 1 year high of $57.90. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of -9.95 and a beta of 1.84.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.30) EPS 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 business had revenue of $151.65 million during the quarter, compared to analyst estimates of $158.84 million. During the same quarter last year, the business earned ($0.51) earnings per share. 10x Genomics’s quarterly 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 year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TXG. UBS Group lowered their price objective on 10x Genomics from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Morgan Stanley lowered their target price on shares of 10x Genomics from $50.00 to $46.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Citigroup cut their price target on 10x Genomics from $35.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Leerink Partnrs upgraded 10x Genomics to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Leerink Partners initiated 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $29.19.

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.