Stifel Financial Corp Grows Stake in 10x Genomics, Inc. (NASDAQ:TXG)

Stifel Financial Corp raised its stake in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 56.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,369 shares of the company’s stock after purchasing an additional 5,890 shares during the period. Stifel Financial Corp’s holdings in 10x Genomics were worth $370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. ARK Investment Management LLC increased its position in shares of 10x Genomics by 15.4% during the 3rd quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company’s stock valued at $242,743,000 after purchasing an additional 1,436,582 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in 10x Genomics in the third quarter worth $27,778,000. Deerfield Management Company L.P. Series C purchased a new position in 10x Genomics during the second quarter worth $11,612,000. FMR LLC increased its position in 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 acquiring an additional 357,470 shares during the last quarter. Finally, Algert Global LLC raised its stake in shares of 10x Genomics by 214.5% in the third quarter. Algert Global LLC now owns 370,958 shares of the company’s stock valued at $8,376,000 after acquiring an additional 252,994 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TXG shares. Canaccord Genuity Group dropped their price target 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. The Goldman Sachs Group dropped their target price on 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a research report on Wednesday, October 30th. Leerink Partners began coverage on 10x Genomics in a report on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price target on the stock. Barclays decreased their price target on 10x Genomics from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Finally, Leerink Partnrs raised 10x Genomics to a “strong-buy” rating in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, 10x Genomics currently has an average rating of “Moderate Buy” and a consensus price target of $25.14.

10x Genomics Price Performance

TXG stock opened at $14.59 on Friday. 10x Genomics, Inc. has a 1-year low of $12.95 and a 1-year high of $57.78. The business has a 50-day moving average price of $15.19 and a 200 day moving average price of $18.43. The company has a market capitalization of $1.77 billion, a P/E ratio of -9.54 and a beta of 1.84.

10x Genomics (NASDAQ:TXG) last announced 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. The firm had revenue of $151.65 million during the quarter, compared to analysts’ expectations of $158.84 million. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. The company’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.51) EPS. On average, analysts anticipate that 10x Genomics, Inc. will post -1.4 earnings per share for the current fiscal year.

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.