10x Genomics (NASDAQ:TXG) Receives Consensus Recommendation of “Hold” from Analysts

Shares of 10x Genomics (NASDAQ:TXG) have been assigned a consensus rating of “Hold” from the seventeen ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $44.00.

A number of equities research analysts recently issued reports on the stock. Piper Sandler increased their target price on shares of 10x Genomics from $42.00 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Citigroup upped their price objective on shares of 10x Genomics from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Morgan Stanley lifted their target price on shares of 10x Genomics from $37.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. UBS Group started coverage on 10x Genomics in a report on Wednesday, September 9th. They issued a “neutral” rating and a $68.00 target price on the stock. Finally, Leerink Partners increased their price target 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.

10x Genomics Trading Up 3.3%

TXG opened at $79.10 on Thursday. 10x Genomics has a 1-year low of $11.16 and a 1-year high of $80.11. The stock has a market capitalization of $10.31 billion, a price-to-earnings ratio of -134.07 and a beta of 2.08. The business has a 50 day moving average of $57.82 and a 200-day moving average of $37.37.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. 10x Genomics had a negative return on equity of 9.33% and a negative net margin of 12.18%.The company had revenue of $151.04 million during the quarter, compared to the consensus estimate of $146.67 million. During the same quarter last year, the company earned $0.28 EPS. The company’s quarterly revenue was down 12.7% on a year-over-year basis. Equities analysts predict that 10x Genomics will post -0.75 EPS for the current year.

Insider Transactions at 10x Genomics

In related news, insider Benjamin J. Hindson sold 13,818 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $63.02, for a total value of $870,810.36. Following the completion of the sale, the insider owned 488,182 shares in the company, valued at $30,765,229.64. This represents a 2.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Adam Taich sold 46,388 shares of the stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $64.57, for a total value of $2,995,273.16. Following the completion of the sale, the chief financial officer owned 316,344 shares of the company’s stock, valued at $20,426,332.08. This trade represents a 12.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 148,610 shares of company stock valued at $9,314,920. 8.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Quantinno Capital Management LP increased its holdings in shares of 10x Genomics by 16.0% during the 1st quarter. Quantinno Capital Management LP now owns 5,411,761 shares of the company’s stock worth $114,892,000 after acquiring an additional 744,558 shares during the last quarter. Amova Asset Management Americas Inc. increased its holdings in shares of 10x Genomics by 2.0% during the fourth quarter. Amova Asset Management Americas Inc. now owns 5,486,153 shares of the company’s stock worth $89,424,000 after purchasing an additional 109,270 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of 10x Genomics by 34.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,042,950 shares of the company’s stock valued at $43,357,000 after buying an additional 525,369 shares during the period. Casdin Capital LLC bought a new stake in shares of 10x Genomics in the fourth quarter valued at approximately $22,834,000. Finally, Clough Capital Partners L P acquired a new stake in 10x Genomics during the fourth quarter worth approximately $9,955,000. 84.68% of the stock is currently owned by institutional investors.

About 10x Genomics

10x Genomics, Inc develops life science technology for analyzing biological systems at the single-cell and spatial levels. Its platforms are designed to help researchers study gene expression, genetic variation, cell populations and tissue organization with greater detail than conventional laboratory methods.

The company’s product portfolio includes the Chromium platform for single-cell analysis, Visium solutions for spatial transcriptomics and tissue profiling, and Xenium in situ platforms for high-resolution analysis of RNA and other biological features within tissue samples.