10x Genomics (NASDAQ:TXG) Stock Rated “Hold” by Sell-Side Analysts

10x Genomics (NASDAQ:TXG) has been given an average rating of “Hold” by the eighteen ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $68.00.

Several equities analysts have recently commented on TXG shares. Argus started coverage on 10x Genomics in a report on Monday, September 28th. They set a “buy” rating and a $110.00 target price for the company. Stephens increased their price target on 10x Genomics from $50.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Citigroup raised their price target on 10x Genomics from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Stifel Nicolaus set a $70.00 price objective on shares of 10x Genomics in a research note on Tuesday. Finally, Piper Sandler upped their price objective on shares of 10x Genomics from $47.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, September 28th.

Insider Activity

In related news, Director John Stuelpnagel sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $61.75, for a total transaction of $1,235,000.00. Following the completion of the transaction, the director owned 328,436 shares of the company’s stock, valued at $20,280,923. This trade represents a 5.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Serge Saxonov sold 25,000 shares of the business’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $81.22, for a total transaction of $2,030,500.00. Following the completion of the sale, the chief executive officer owned 1,050,249 shares in the company, valued at approximately $85,301,223.78. This trade represents a 2.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 179,333 shares of company stock worth $11,810,070 in the last quarter. 8.84% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On 10x Genomics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp acquired a new position in 10x Genomics in the 1st quarter valued at approximately $50,000. Elevation Wealth Partners LLC grew its holdings in shares of 10x Genomics by 332.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 1,487 shares of the company’s stock valued at $57,000 after acquiring an additional 1,143 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of 10x Genomics during the 3rd quarter valued at $68,000. Farther Finance Advisors LLC increased its stake in shares of 10x Genomics by 29.9% in the third quarter. Farther Finance Advisors LLC now owns 934 shares of the company’s stock worth $84,000 after acquiring an additional 215 shares during the last quarter. Finally, Nykredit A S acquired a new position in shares of 10x Genomics in the second quarter worth $126,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

10x Genomics Stock Down 3.5%

Shares of NASDAQ:TXG opened at $69.86 on Monday. 10x Genomics has a 52-week low of $11.81 and a 52-week high of $102.81. The company has a 50 day moving average of $71.11 and a two-hundred day moving average of $45.49. The company has a market capitalization of $9.10 billion, a price-to-earnings ratio of -118.40 and a beta of 1.99.

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

10x Genomics Company Profile

10x Genomics, Inc is a life sciences technology company that develops tools for analyzing biological systems at high resolution. Its platforms are used by academic and government research institutions, pharmaceutical and biotechnology companies, and other organizations studying genomics, cell biology, immunology, neuroscience, and disease mechanisms.

The company’s product portfolio includes the Chromium platform for single-cell and other multiomics analyses, the Visium platform for spatial analysis of tissue, and the Xenium platform for high-plex in situ analysis of gene expression.