Fintel reports that on September 3, 2024, Leerink Partners initiated coverage of 10x Genomics (NasdaqGS:TXG) with a Outperform recommendation.
Analyst Price Forecast Suggests 17.27% Upside
As of August 26, 2024, the average one-year price target for 10x Genomics is $27.38/share. The forecasts range from a low of $16.16 to a high of $48.30. The average price target represents an increase of 17.27% from its latest reported closing price of $23.35 / share.
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The projected annual revenue for 10x Genomics is 762MM, an increase of 20.60%. The projected annual non-GAAP EPS is -0.40.
What is the Fund Sentiment?
There are 571 funds or institutions reporting positions in 10x Genomics. This is an decrease of 54 owner(s) or 8.64% in the last quarter. Average portfolio weight of all funds dedicated to TXG is 0.14%, an increase of 36.17%. Total shares owned by institutions increased in the last three months by 2.15% to 123,787K shares. 
The put/call ratio of TXG is 0.52, indicating a bullish outlook.
What are Other Shareholders Doing?
ARK Investment Management holds 9,314K shares representing 8.75% ownership of the company. In its prior filing, the firm reported owning 6,284K shares , representing an increase of 32.53%. The firm decreased its portfolio allocation in TXG by 1.55% over the last quarter.
Nikko Asset Management Americas holds 6,148K shares representing 5.78% ownership of the company. In its prior filing, the firm reported owning 3,622K shares , representing an increase of 41.09%. The firm increased its portfolio allocation in TXG by 2.16% over the last quarter.
Sumitomo Mitsui Trust Holdings holds 6,143K shares representing 5.77% ownership of the company. In its prior filing, the firm reported owning 3,622K shares , representing an increase of 41.04%. The firm decreased its portfolio allocation in TXG by 5.49% over the last quarter.
ARKK - ARK Innovation ETF holds 4,529K shares representing 4.26% ownership of the company. In its prior filing, the firm reported owning 3,255K shares , representing an increase of 28.13%. The firm increased its portfolio allocation in TXG by 14.94% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,977K shares representing 2.80% ownership of the company. In its prior filing, the firm reported owning 2,940K shares , representing an increase of 1.24%. The firm decreased its portfolio allocation in TXG by 48.97% 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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