Stephens & Co. Initiates Coverage of 10x Genomics, Inc. (TXG) with Overweight Recommendation

On March 31, 2023,
Stephens & Co.
initiated coverage of 10x Genomics, Inc. with
a Overweight recommendation.

Analyst Price Forecast Suggests 5.48% Downside

As of March 30, 2023,
the average one-year price target for 10x Genomics, Inc. is $52.73.
The forecasts range from a low of $25.25 to a high of $68.25.
The average price target represents a decrease of 5.48% from its latest reported closing price of $55.79.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for 10x Genomics, Inc.
is $623MM, an increase of 20.63%.

The projected annual non-GAAP EPS
is -$1.20.

What are Large Shareholders Doing?

Baillie Gifford &
holds 8,602K shares

representing 7.46% ownership of the company.

In it’s prior filing, the firm reported owning 8,443K shares, representing
an increase
of 1.85%.

The firm

increased

its portfolio allocation in TXG by 31.76% over the last quarter.

ARK Investment Management
holds 4,317K shares

representing 3.74% ownership of the company.

In it’s prior filing, the firm reported owning 4,577K shares, representing
a decrease
of 6.03%.

The firm

increased

its portfolio allocation in TXG by 50.03% over the last quarter.

Sands Capital Management
holds 3,207K shares

representing 2.78% ownership of the company.

In it’s prior filing, the firm reported owning 3,391K shares, representing
a decrease
of 5.75%.

The firm

increased

its portfolio allocation in TXG by 21.80% over the last quarter.

ARKK – ARK Innovation ETF
holds 3,059K shares

representing 2.65% ownership of the company.

In it’s prior filing, the firm reported owning 3,198K shares, representing
a decrease
of 4.54%.

The firm

increased

its portfolio allocation in TXG by 65.02% over the last quarter.

SRS Investment Management
holds 3,005K shares

representing 2.61% ownership of the company.

No change in the last quarter.

What is the Fund Sentiment?

There are 562 funds or institutions reporting positions in 10x Genomics, Inc..

This is an increase
of
22
owner(s) or 4.07% in the last quarter.

Average portfolio weight of all funds dedicated to TXG is 0.20%,
an increase
of 25.77%.

Total shares owned by institutions increased
in the last three months by 1.61% to 104,924K shares.

The put/call ratio of TXG is 0.40, indicating a

bullish
outlook.

10x Genomics Background Information
(This description is provided by the company.)

10x Genomics is an American biotechnology company that designs and manufactures gene sequencing technology used in scientific research. It was founded in 2012 by Serge Saxonov, Ben Hindson, and Kevin Ness.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.