10x Genomics (NASDAQ:TXG) Rating Increased to Hold at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of 10x Genomics (NASDAQ:TXG) to a hold rating in a research note released on Tuesday,Zacks reports.

TXG has been the topic of several other reports. Zacks Research lowered 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Citigroup lifted their target price on 10x Genomics from $45.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Stephens lifted their target price on 10x Genomics from $50.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Leerink Partners increased their price objective on 10x Genomics from $23.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, July 17th. Finally, Stifel Nicolaus set a $50.00 price target on 10x Genomics in a research report on Friday, August 7th. Five research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $40.57.

10x Genomics Stock Performance

Shares of TXG stock opened at $59.98 on Tuesday. The stock’s 50 day simple moving average is $49.31 and its 200 day simple moving average is $32.51. 10x Genomics has a twelve month low of $11.16 and a twelve month high of $66.94. The company has a market capitalization of $7.81 billion, a price-to-earnings ratio of -101.66 and a beta of 2.08.

10x Genomics (NASDAQ:TXG) last released its earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.33%. The firm had revenue of $151.04 million during the quarter, compared to analyst estimates of $146.67 million. During the same quarter in the previous year, the business earned $0.28 EPS. The business’s revenue was down 12.7% on a year-over-year basis. On average, analysts forecast that 10x Genomics will post -0.75 EPS for the current fiscal year.

Insider Transactions at 10x Genomics

In other 10x Genomics news, Director John R. Stuelpnagel sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $57.75, for a total transaction of $1,155,000.00. Following the sale, the director owned 348,436 shares in the company, valued at $20,122,179. This trade represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Benjamin J. Hindson sold 13,818 shares of 10x Genomics stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $63.02, for a total transaction of $870,810.36. Following the transaction, the insider directly owned 488,182 shares in the company, valued at $30,765,229.64. This trade represents a 2.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 117,945 shares of company stock worth $6,304,588. 8.84% of the stock is owned by insiders.

Institutional Trading of 10x Genomics

A number of large investors have recently made changes to their positions in TXG. Intech Investment Management LLC grew its stake in shares of 10x Genomics by 1.4% during the 4th quarter. Intech Investment Management LLC now owns 40,047 shares of the company’s stock valued at $653,000 after purchasing an additional 567 shares during the period. EverSource Wealth Advisors LLC grew its holdings in 10x Genomics by 16.4% during the first quarter. EverSource Wealth Advisors LLC now owns 7,186 shares of the company’s stock valued at $153,000 after purchasing an additional 1,012 shares during the period. Kera Capital Partners Inc. raised its stake in shares of 10x Genomics by 2.3% in the first quarter. Kera Capital Partners Inc. now owns 48,937 shares of the company’s stock worth $1,039,000 after buying an additional 1,108 shares during the period. Elevation Wealth Partners LLC lifted its holdings in 10x Genomics by 332.3% during the second quarter. Elevation Wealth Partners LLC now owns 1,487 shares of the company’s stock valued at $57,000 after purchasing an additional 1,143 shares in the last quarter. Finally, M&T Bank Corp increased its stake in shares of 10x Genomics by 6.3% in the fourth quarter. M&T Bank Corp now owns 21,699 shares of the company’s stock worth $354,000 after purchasing an additional 1,282 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

10x Genomics Company Profile

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.