ING Groep NV Acquires Shares of 75,400 10x Genomics, Inc. (NASDAQ:TXG)

ING Groep NV bought a new position in 10x Genomics, Inc. (NASDAQ:TXG) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 75,400 shares of the company’s stock, valued at approximately $1,083,000. ING Groep NV owned about 0.06% of 10x Genomics at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new position in 10x Genomics in the fourth quarter worth about $26,308,000. ARK Investment Management LLC boosted its holdings in shares of 10x Genomics by 15.4% in the 3rd quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company’s stock worth $242,743,000 after purchasing an additional 1,436,582 shares during the period. Point72 Asset Management L.P. bought a new position in shares of 10x Genomics during the 3rd quarter valued at approximately $27,778,000. FMR LLC raised its holdings in 10x Genomics by 2.7% during the 3rd quarter. FMR LLC now owns 13,367,979 shares of the company’s stock valued at $301,849,000 after buying an additional 357,470 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in 10x Genomics by 355.0% in the third quarter. JPMorgan Chase & Co. now owns 355,488 shares of the company’s stock worth $8,027,000 after buying an additional 277,355 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

10x Genomics Stock Down 5.7 %

10x Genomics stock opened at $10.90 on Monday. The stock has a 50-day moving average price of $14.31 and a 200 day moving average price of $17.08. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -7.17 and a beta of 1.85. 10x Genomics, Inc. has a 52 week low of $10.80 and a 52 week high of $48.42.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.08). 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. Research analysts anticipate that 10x Genomics, Inc. will post -1.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on TXG. Stifel Nicolaus cut their price objective on 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. JPMorgan Chase & Co. cut their price target on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of 10x Genomics in a report on Wednesday, February 19th. Canaccord Genuity Group dropped their target price on shares of 10x Genomics from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, Leerink Partners lowered shares of 10x Genomics from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $25.00 to $12.00 in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $20.57.

10x Genomics 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.