10x Genomics (NASDAQ:TXG) Given Consensus Recommendation of “Hold” by Brokerages

Shares of 10x Genomics (NASDAQ:TXG) have been given a consensus rating of “Hold” by the sixteen analysts that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $18.4643.

A number of brokerages have commented on TXG. Stifel Nicolaus boosted their price objective on shares of 10x Genomics from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft set a $17.00 target price on 10x Genomics and gave the company a “hold” rating in a research note on Friday, February 13th. Canaccord Genuity Group set a $22.00 target price on 10x Genomics in a research report on Friday, February 13th. Bank of America set a $21.00 price target on 10x Genomics in a research note on Monday, January 12th. Finally, Barclays increased their price target on 10x Genomics from $17.00 to $22.00 and gave the company an “overweight” rating in a report on Monday, December 15th.

Insider Buying and Selling at 10x Genomics

In other news, insider Benjamin J. Hindson sold 7,826 shares of the stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $18.58, for a total transaction of $145,407.08. Following the completion of the transaction, the insider directly owned 424,779 shares in the company, valued at approximately $7,892,393.82. This represents a 1.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Serge Saxonov sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $19.13, for a total transaction of $191,300.00. Following the sale, the chief executive officer directly owned 1,177,273 shares of the company’s stock, valued at $22,521,232.49. The trade was a 0.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 41,426 shares of company stock valued at $779,895 in the last three months. Corporate insiders own 10.03% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its stake in shares of 10x Genomics by 806.4% in the 1st quarter. Royal Bank of Canada now owns 182,836 shares of the company’s stock valued at $1,597,000 after purchasing an additional 162,665 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in 10x Genomics by 163.5% in the first quarter. Goldman Sachs Group Inc. now owns 645,366 shares of the company’s stock worth $5,634,000 after purchasing an additional 400,430 shares in the last quarter. Focus Partners Wealth acquired a new position in 10x Genomics in the first quarter worth about $92,000. PNC Financial Services Group Inc. increased its holdings in 10x Genomics by 73.8% in the second quarter. PNC Financial Services Group Inc. now owns 8,951 shares of the company’s stock valued at $104,000 after buying an additional 3,801 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in 10x Genomics by 41.2% in the second quarter. Geode Capital Management LLC now owns 2,650,819 shares of the company’s stock valued at $30,701,000 after buying an additional 773,203 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

10x Genomics Stock Up 1.7%

TXG opened at $19.81 on Thursday. The firm’s 50 day moving average is $19.99 and its 200-day moving average is $17.03. 10x Genomics has a 52-week low of $6.78 and a 52-week high of $23.56. The firm has a market capitalization of $2.53 billion, a P/E ratio of -56.60 and a beta of 2.20.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Thursday, February 12th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.06. The business had revenue of $166.03 million during the quarter, compared to the consensus estimate of $160.35 million. 10x Genomics had a negative net margin of 6.77% and a negative return on equity of 6.89%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.40) earnings per share. Equities analysts expect that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

About 10x Genomics

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.