Fintel reports that on June 3, 2024, Jefferies initiated coverage of 10x Genomics (NasdaqGS:TXG) with a Hold recommendation.
Analyst Price Forecast Suggests 89.44% Upside
As of June 2, 2024, the average one-year price target for 10x Genomics is 42.06. The forecasts range from a low of 26.26 to a high of $57.75. The average price target represents an increase of 89.44% from its latest reported closing price of 22.20.
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The projected annual revenue for 10x Genomics is 762MM, an increase of 21.81%. The projected annual non-GAAP EPS is -0.40.
What is the Fund Sentiment?
There are 624 funds or institutions reporting positions in 10x Genomics. This is an increase of 9 owner(s) or 1.46% in the last quarter. Average portfolio weight of all funds dedicated to TXG is 0.22%, an increase of 46.34%. Total shares owned by institutions increased in the last three months by 6.75% to 121,179K shares. 
The put/call ratio of TXG is 0.78, indicating a bullish outlook.
What are Other Shareholders Doing?
Baillie Gifford holds 7,425K shares representing 6.20% ownership of the company. In its prior filing, the firm reported owning 7,920K shares , representing a decrease of 6.67%. The firm decreased its portfolio allocation in TXG by 76.61% over the last quarter.
ARK Investment Management holds 6,284K shares representing 5.25% ownership of the company. In its prior filing, the firm reported owning 4,041K shares , representing an increase of 35.69%. The firm increased its portfolio allocation in TXG by 21.96% over the last quarter.
Price T Rowe Associates holds 3,657K shares representing 3.06% ownership of the company. In its prior filing, the firm reported owning 3,104K shares , representing an increase of 15.12%. The firm decreased its portfolio allocation in TXG by 27.92% over the last quarter.
Nikko Asset Management Americas holds 3,622K shares representing 3.03% ownership of the company. In its prior filing, the firm reported owning 2,284K shares , representing an increase of 36.95%. The firm increased its portfolio allocation in TXG by 9.78% over the last quarter.
Sumitomo Mitsui Trust Holdings holds 3,622K shares representing 3.03% ownership of the company. In its prior filing, the firm reported owning 2,284K shares , representing an increase of 36.95%. The firm decreased its portfolio allocation in TXG by 1.23% over the last quarter.
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.
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