Fintel reports that on July 13, 2023, Goldman Sachs maintained coverage of 10x Genomics Inc – (TXG) with a Sell recommendation.

Analyst Price Forecast Suggests 0.79% Downside

As of July 6, 2023, the average one-year price target for 10x Genomics Inc – is 59.07. The forecasts range from a low of 25.25 to a high of $71.40. The average price target represents a decrease of 0.79% from its latest reported closing price of 59.54.

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The projected annual revenue for 10x Genomics Inc – is 623MM, an increase of 16.18%. The projected annual non-GAAP EPS is -1.20.

What is the Fund Sentiment?

There are 570 funds or institutions reporting positions in 10x Genomics Inc -. This is an increase of 8 owner(s) or 1.42% in the last quarter. Average portfolio weight of all funds dedicated to TXG is 0.29%, an increase of 37.43%. Total shares owned by institutions increased in the last three months by 1.32% to 106,308K shares. The put/call ratio of TXG is 0.61, indicating a bullish outlook.

What are Other Shareholders Doing?

 

Baillie Gifford holds 8,754K shares representing 7.53% ownership of the company. In its prior filing, the firm reported owning 8,602K shares, representing an increase of 1.73%. The firm increased its portfolio allocation in TXG by 34.90% over the last quarter.

Sands Capital Management holds 3,738K shares representing 3.22% ownership of the company. In its prior filing, the firm reported owning 3,207K shares, representing an increase of 14.21%. The firm increased its portfolio allocation in TXG by 55.62% over the last quarter.

ARK Investment Management holds 3,114K shares representing 2.68% ownership of the company. In its prior filing, the firm reported owning 4,155K shares, representing a decrease of 33.46%. The firm decreased its portfolio allocation in TXG by 27.76% over the last quarter.

Brown Capital Management holds 3,076K shares representing 2.65% ownership of the company. In its prior filing, the firm reported owning 1,454K shares, representing an increase of 52.74%. The firm increased its portfolio allocation in TXG by 192.71% over the last quarter.

SRS Investment Management holds 3,005K shares representing 2.59% ownership of the company. No change in 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.

Additional reading:

• 10x Genomics Wins Permanent Injunction Against NanoString’s CosMx Products 10x Genomics is seeking additional injunctions to protect its intellectual property
• 10x Genomics Reports First Quarter 2023 Financial Results
• 2019 Employee Stock Purchase Plan Subscription Agreement.
• 2019 Employee Stock Purchase Plan Notice of Contribution Percentage Change or Withdrawal.
• 10x Genomics Reports Fourth Quarter and Full Year 2022 Financial Results and Provides Outlook for 2023 Q4 2022 revenue growth of 9% and FY 2022 revenue growth of 5% over the corresponding periods of 2021

This article originally appeared on Fintel

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