10x Genomics (NASDAQ:TXG) Stock Has Consensus Price Target of $68.00 According to Brokerages

10x Genomics (NASDAQ:TXG) has earned a consensus rating of “Hold” from the eighteen ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $68.40.

Several research firms recently issued reports on TXG. Morgan Stanley upped their target price on 10x Genomics from $40.00 to $70.00 and gave the stock an “equal weight” rating in a report on Monday, October 12th. UBS Group decreased their price target on 10x Genomics from $90.00 to $61.00 and set a “neutral” rating for the company in a research note on Friday, November 6th. Royal Bank Of Canada started coverage on 10x Genomics in a research note on Tuesday, September 1st. They issued a “sector perform” rating and a $70.00 price target for the company. Stephens lowered 10x Genomics from an “overweight” rating to an “equal weight” rating in a research report on Friday, October 23rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of 10x Genomics in a research note on Monday, September 21st.

Insider Buying and Selling

In other news, Director John Stuelpnagel sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $61.75, for a total transaction of $1,235,000.00. Following the transaction, the director directly owned 328,436 shares in the company, valued at $20,280,923. The trade was a 5.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Benjamin Hindson sold 13,818 shares of the business’s stock in a transaction dated 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 owned 488,182 shares in the company, valued at $30,765,229.64. This represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 159,333 shares of company stock worth $10,655,070. Corporate insiders own 8.84% of the company’s stock.

Hedge Funds Weigh In On 10x Genomics

A number of institutional investors have recently bought and sold shares of the business. First Trust Advisors LP raised its stake in 10x Genomics by 8.8% in the third quarter. First Trust Advisors LP now owns 451,226 shares of the company’s stock valued at $40,773,000 after buying an additional 36,332 shares during the period. Advisors Asset Management Inc. bought a new position in shares of 10x Genomics during the 3rd quarter worth approximately $210,000. USS Investment Management Ltd acquired a new position in shares of 10x Genomics during the 3rd quarter worth approximately $11,716,000. Westpac Banking Corp acquired a new position in shares of 10x Genomics during the 3rd quarter worth approximately $3,631,000. Finally, Independent Advisor Alliance acquired a new position in shares of 10x Genomics during the 3rd quarter worth approximately $327,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

10x Genomics Price Performance

10x Genomics stock opened at $59.10 on Friday. The company’s 50 day simple moving average is $74.02 and its 200 day simple moving average is $42.38. 10x Genomics has a fifty-two week low of $15.12 and a fifty-two week high of $102.81. The firm has a market capitalization of $7.70 billion, a price-to-earnings ratio of -113.65 and a beta of 2.03.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Thursday, November 5th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.12. 10x Genomics had a negative net margin of 10.84% and a negative return on equity of 8.19%. The firm had revenue of $150.67 million during the quarter, compared to the consensus estimate of $147.96 million. During the same quarter in the prior year, the firm earned ($0.22) earnings per share. The business’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, analysts predict that 10x Genomics will post -0.74 EPS for the current fiscal year.

10x Genomics Company Profile

10x Genomics, Inc. develops technology for studying biological systems at single-cell and spatial resolution. Its instruments, consumables and software help researchers analyze gene expression and other features of cells while preserving information about their location within tissue. The company’s product platforms include Chromium for single-cell analysis, Visium for spatial gene-expression analysis and Xenium for in situ analysis of gene activity within tissue samples. Its tools are used in areas such as immunology, neuroscience, cancer research and drug discovery.