Primecap Management Co. CA Raises Stock Holdings in 10x Genomics, Inc. (NASDAQ:TXG)

Primecap Management Co. CA raised its position in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 58.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 295,400 shares of the company’s stock after buying an additional 108,600 shares during the quarter. Primecap Management Co. CA’s holdings in 10x Genomics were worth $6,670,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of 10x Genomics by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,101,536 shares of the company’s stock worth $341,581,000 after buying an additional 90,204 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of 10x Genomics by 604.9% in the second quarter. SG Americas Securities LLC now owns 101,344 shares of the company’s stock worth $1,971,000 after acquiring an additional 86,967 shares during the last quarter. Lecap Asset Management Ltd. purchased a new stake in shares of 10x Genomics in the third quarter worth $877,000. Marshall Wace LLP purchased a new position in shares of 10x Genomics in the 2nd quarter worth about $689,000. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in 10x Genomics by 10,124.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 44,785 shares of the company’s stock worth $871,000 after purchasing an additional 44,347 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

10x Genomics Trading Up 7.7 %

Shares of NASDAQ:TXG opened at $14.31 on Friday. The firm’s 50 day moving average price is $17.57 and its 200-day moving average price is $19.97. 10x Genomics, Inc. has a twelve month low of $12.95 and a twelve month high of $57.90.

10x Genomics (NASDAQ:TXG) last released its quarterly 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 business had revenue of $151.65 million for the quarter, compared to the consensus estimate of $158.84 million. During the same period last year, the firm earned ($0.51) earnings per share. The company’s quarterly revenue was down 1.3% on a year-over-year basis. As a group, analysts predict that 10x Genomics, Inc. will post -1.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TXG shares. Canaccord Genuity Group reduced their price objective on shares of 10x Genomics from $32.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Citigroup reduced their price target on shares of 10x Genomics from $35.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Morgan Stanley lowered their price objective on 10x Genomics from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. JPMorgan Chase & Co. cut their target price on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Finally, UBS Group decreased their price target on 10x Genomics from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.19.

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.