M&T Bank Corp Takes Position in 10x Genomics, Inc. (NASDAQ:TXG)

M&T Bank Corp acquired a new position in shares of 10x Genomics, Inc. (NASDAQ:TXG) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,008 shares of the company’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of 10x Genomics by 2.7% during the third quarter. FMR LLC now owns 13,367,979 shares of the company’s stock valued at $301,849,000 after purchasing an additional 357,470 shares in the last quarter. ARK Investment Management LLC raised its holdings in 10x Genomics by 15.4% in the 3rd quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company’s stock valued at $242,743,000 after buying an additional 1,436,582 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in 10x Genomics by 3.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,373,212 shares of the company’s stock worth $143,907,000 after buying an additional 230,145 shares during the period. State Street Corp grew its holdings in 10x Genomics by 7.1% during the 3rd quarter. State Street Corp now owns 1,750,643 shares of the company’s stock worth $39,530,000 after acquiring an additional 116,534 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of 10x Genomics during the third quarter valued at $27,778,000. Institutional investors own 84.68% of the company’s stock.

10x Genomics Price Performance

TXG stock opened at $13.61 on Friday. The company’s 50-day moving average is $15.33 and its 200-day moving average is $18.76. The stock has a market capitalization of $1.65 billion, a PE ratio of -8.90 and a beta of 1.84. 10x Genomics, Inc. has a 1 year low of $12.95 and a 1 year high of $57.90.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share for the quarter, topping 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 business had revenue of $151.65 million for the quarter, compared to the consensus estimate of $158.84 million. During the same period in the prior year, the business earned ($0.51) EPS. The firm’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 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on TXG shares. Leerink Partnrs upgraded 10x Genomics to a “strong-buy” rating in a report on Tuesday, September 3rd. Stephens restated an “overweight” rating and set a $30.00 price objective on shares of 10x Genomics in a research report on Thursday, October 10th. Canaccord Genuity Group reduced their target price on 10x Genomics from $32.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. The Goldman Sachs Group lowered their price target on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a report on Wednesday, October 30th. Finally, 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.14.

10x Genomics Company 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.