ING Groep NV Makes New Investment in 10x Genomics, Inc. (NASDAQ:TXG)

ING Groep NV bought a new position in shares of 10x Genomics, Inc. (NASDAQ:TXG) in the fourth quarter, Holdings Channel.com reports. The fund bought 75,400 shares of the company’s stock, valued at approximately $1,083,000.

A number of other hedge funds have also modified their holdings of TXG. JPMorgan Chase & Co. boosted its position in 10x Genomics by 355.0% during the third quarter. JPMorgan Chase & Co. now owns 355,488 shares of the company’s stock worth $8,027,000 after acquiring an additional 277,355 shares during the last quarter. Entropy Technologies LP boosted its holdings in shares of 10x Genomics by 285.6% during the 4th quarter. Entropy Technologies LP now owns 37,595 shares of the company’s stock worth $540,000 after purchasing an additional 27,844 shares during the last quarter. Geode Capital Management LLC grew its position in shares of 10x Genomics by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company’s stock valued at $41,009,000 after purchasing an additional 42,777 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of 10x Genomics by 209.8% in the fourth quarter. SG Americas Securities LLC now owns 73,046 shares of the company’s stock valued at $1,049,000 after purchasing an additional 49,468 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of 10x Genomics in the third quarter valued at approximately $27,778,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of 10x Genomics in a research note on Wednesday, February 19th. UBS Group lowered their price target on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Citigroup cut their price objective on shares of 10x Genomics from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Stifel Nicolaus reduced their target price on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group dropped their price target on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.57.

10x Genomics Price Performance

NASDAQ TXG opened at $10.90 on Monday. The stock has a 50-day moving average of $14.31 and a two-hundred day moving average of $17.08. 10x Genomics, Inc. has a 1-year low of $10.80 and a 1-year high of $48.42. The company has a market cap of $1.33 billion, a P/E ratio of -7.17 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last released its 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%. On average, analysts anticipate that 10x Genomics, Inc. will post -1.43 EPS for the current fiscal year.

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.