Commerce Bank Raises Stock Holdings in 10x Genomics, Inc. (NASDAQ:TXG)

Commerce Bank grew its position in 10x Genomics, Inc. (NASDAQ:TXG) by 17.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,296 shares of the company’s stock after acquiring an additional 1,946 shares during the quarter. Commerce Bank’s holdings in 10x Genomics were worth $300,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TXG. Jacobs Levy Equity Management Inc. purchased a new position in shares of 10x Genomics in the first quarter valued at approximately $3,647,000. Swedbank AB purchased a new position in shares of 10x Genomics in the first quarter valued at approximately $675,000. Westwood Holdings Group Inc. acquired a new stake in shares of 10x Genomics in the first quarter valued at approximately $939,000. Quent Capital LLC increased its holdings in shares of 10x Genomics by 83.9% in the second quarter. Quent Capital LLC now owns 8,916 shares of the company’s stock valued at $173,000 after purchasing an additional 4,068 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings 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 valued at $1,971,000 after purchasing an additional 86,967 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

10x Genomics Stock Performance

TXG opened at $15.48 on Thursday. The business’s 50-day simple moving average is $17.18 and its 200-day simple moving average is $19.71. 10x Genomics, Inc. has a one year low of $12.95 and a one year high of $57.90. The stock has a market capitalization of $1.87 billion, a P/E ratio of -10.12 and a beta of 1.87.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.04. The firm had revenue of $151.65 million for the quarter, compared to analysts’ expectations of $158.84 million. 10x Genomics had a negative return on equity of 25.07% and a negative net margin of 28.93%. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.51) EPS. On average, equities research analysts forecast that 10x Genomics, Inc. will post -1.4 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on TXG. Barclays cut their price target on 10x Genomics from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Morgan Stanley cut their price target on 10x Genomics from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. 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 for the company. JPMorgan Chase & Co. cut their price target on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Finally, Leerink Partnrs raised 10x Genomics to a “strong-buy” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $29.19.

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.