Sound Income Strategies LLC Buys 1,330 Shares of 10x Genomics, Inc. (NASDAQ:TXG)

Sound Income Strategies LLC lifted its stake in 10x Genomics, Inc. (NASDAQ:TXG) by 65.2% during the fourth quarter, Holdings Channel reports. The fund owned 3,370 shares of the company’s stock after acquiring an additional 1,330 shares during the quarter. Sound Income Strategies LLC’s holdings in 10x Genomics were worth $48,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TXG. JPMorgan Chase & Co. grew its position in shares of 10x Genomics by 355.0% in the third quarter. JPMorgan Chase & Co. now owns 355,488 shares of the company’s stock valued at $8,027,000 after purchasing an additional 277,355 shares during the last quarter. Lecap Asset Management Ltd. acquired a new stake in 10x Genomics in the 3rd quarter valued at approximately $877,000. Geode Capital Management LLC grew its holdings in 10x Genomics by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company’s stock valued at $41,009,000 after buying an additional 42,777 shares during the last quarter. Marshall Wace LLP bought a new position in 10x Genomics in the 2nd quarter worth approximately $689,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of 10x Genomics during the third quarter worth approximately $27,778,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TXG shares. Citigroup lowered their price objective on shares of 10x Genomics from $35.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. The Goldman Sachs Group dropped their price objective on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating on the stock in a report on Wednesday, October 30th. Morgan Stanley reduced their target price on shares of 10x Genomics from $30.00 to $28.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Stephens reissued an “overweight” rating and set a $30.00 target price on shares of 10x Genomics in a research report on Thursday, October 10th. Finally, 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.86.

10x Genomics Price Performance

Shares of NASDAQ:TXG opened at $14.81 on Friday. The business’s fifty day moving average price is $15.02 and its two-hundred day moving average price is $17.84. 10x Genomics, Inc. has a fifty-two week low of $12.95 and a fifty-two week high of $51.22. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -9.68 and a beta of 1.83.

10x Genomics (NASDAQ:TXG) last posted its 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 analyst estimates of $158.84 million. During the same quarter in the prior year, the firm earned ($0.51) EPS. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. Research analysts expect 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.