Y Intercept Hong Kong Ltd Invests $402,000 in 10x Genomics, Inc. (NASDAQ:TXG)

Y Intercept Hong Kong Ltd bought a new stake in shares of 10x Genomics, Inc. (NASDAQ:TXG) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 17,790 shares of the company’s stock, valued at approximately $402,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TXG. Allspring Global Investments Holdings LLC lifted its holdings in 10x Genomics by 134.5% during the 2nd 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 during the last quarter. GAMMA Investing LLC raised its stake in shares of 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 acquiring an additional 1,265 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of 10x Genomics in the 3rd quarter worth approximately $35,000. First Horizon Advisors Inc. grew its position in 10x Genomics by 74.1% during the 2nd 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 last quarter. Finally, Blue Trust Inc. increased its holdings in 10x Genomics by 136.5% during the 3rd quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock valued at $40,000 after purchasing an additional 1,025 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

10x Genomics Price Performance

Shares of TXG stock opened at $14.99 on Tuesday. The stock has a market cap of $1.81 billion, a PE ratio of -9.80 and a beta of 1.84. The stock has a 50-day moving average of $15.63 and a 200-day moving average of $18.89. 10x Genomics, Inc. has a one year low of $12.95 and a one year high of $57.90.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share for the quarter, topping 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 company had revenue of $151.65 million for the quarter, compared to analyst estimates of $158.84 million. During the same period last year, the business posted ($0.51) earnings per share. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, research analysts anticipate 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 commented on TXG. Leerink Partnrs raised 10x Genomics to a “strong-buy” rating in a research note on Tuesday, September 3rd. Barclays decreased their price objective on shares of 10x Genomics from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Citigroup dropped their target price on shares of 10x Genomics from $35.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Stephens reissued an “overweight” rating and set a $30.00 price target on shares of 10x Genomics in a research note on Thursday, October 10th. Finally, Leerink Partners assumed coverage on shares of 10x Genomics in a research report on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, 10x Genomics currently has a consensus rating of “Moderate Buy” and an average 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.