10x Genomics (NASDAQ:TXG) Receives Average Recommendation of “Hold” from Brokerages

Shares of 10x Genomics (NASDAQ:TXG) have been assigned an average recommendation of “Hold” from the fifteen brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $32.0833.

Several research analysts have weighed in on TXG shares. Barclays upped their price target on 10x Genomics from $30.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Bank of America lifted their price objective on shares of 10x Genomics from $21.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Leerink Partners boosted their target price on shares of 10x Genomics from $23.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday, July 17th. TD Cowen restated a “hold” rating on shares of 10x Genomics in a research report on Wednesday, July 15th. Finally, Morgan Stanley upped their target price on shares of 10x Genomics from $22.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th.

Insider Activity at 10x Genomics

In other news, Director Shehnaaz Suliman sold 5,723 shares of 10x Genomics stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $32.63, for a total value of $186,741.49. Following the sale, the director directly owned 31,722 shares of the company’s stock, valued at approximately $1,035,088.86. The trade was a 15.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Serge Saxonov sold 30,000 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $34.44, for a total value of $1,033,200.00. Following the completion of the sale, the chief executive officer owned 1,108,380 shares in the company, valued at $38,172,607.20. This represents a 2.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 91,309 shares of company stock worth $2,581,357 in the last quarter. 8.84% of the stock is owned by company insiders.

Institutional Trading of 10x Genomics

A number of large investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. purchased a new stake in shares of 10x Genomics during the 4th quarter worth approximately $38,000. Larson Financial Group LLC grew its holdings in shares of 10x Genomics by 164.4% in the fourth quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock valued at $39,000 after purchasing an additional 1,470 shares in the last quarter. Fifth Third Bancorp bought a new stake in 10x Genomics in the first quarter worth $50,000. Elevation Wealth Partners LLC increased its position in 10x Genomics by 332.3% in the second quarter. Elevation Wealth Partners LLC now owns 1,487 shares of the company’s stock worth $57,000 after purchasing an additional 1,143 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in 10x Genomics by 85.9% during the fourth quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock valued at $60,000 after purchasing an additional 1,695 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

10x Genomics Price Performance

NASDAQ:TXG opened at $47.27 on Wednesday. The business’s 50-day simple moving average is $37.09 and its two-hundred day simple moving average is $26.71. 10x Genomics has a 52 week low of $11.16 and a 52 week high of $50.34. The stock has a market cap of $6.00 billion, a PE ratio of -278.06 and a beta of 2.03.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.19. 10x Genomics had a negative return on equity of 2.86% and a negative net margin of 3.55%.The firm had revenue of $150.84 million during the quarter, compared to analyst estimates of $146.41 million. During the same quarter in the prior year, the company posted ($0.28) earnings per share. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. Sell-side analysts anticipate that 10x Genomics will post -0.78 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.