10x Genomics’ (TXG) “Overweight” Rating Reiterated at Stephens

Stephens reissued their overweight rating on shares of 10x Genomics (NASDAQ:TXG) in a research note released on Thursday,Benzinga reports. Stephens currently has a $14.00 price target on the stock.

Other analysts have also issued reports about the company. Leerink Partners lowered 10x Genomics from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $25.00 to $12.00 in a research note on Thursday, February 13th. UBS Group dropped their price target on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. JPMorgan Chase & Co. lowered their target price on shares of 10x Genomics from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. Canaccord Genuity Group dropped their price objective on 10x Genomics from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, May 12th. Finally, The Goldman Sachs Group reduced their price objective on shares of 10x Genomics from $7.50 to $6.50 and set a “sell” rating for the company in a research note on Monday, May 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $16.42.

10x Genomics Stock Up 2.1%

Shares of NASDAQ TXG opened at $9.39 on Thursday. The company has a market capitalization of $1.15 billion, a PE ratio of -6.18 and a beta of 1.94. The stock’s 50 day moving average price is $8.77 and its 200-day moving average price is $12.33. 10x Genomics has a twelve month low of $6.78 and a twelve month high of $25.55.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.09. 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. The company had revenue of $154.88 million for the quarter, compared to the consensus estimate of $131.91 million. During the same period in the previous year, the firm earned ($0.50) EPS. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, research analysts expect that 10x Genomics will post -1.43 EPS for the current fiscal year.

Insider Activity

In other news, insider Benjamin J. Hindson sold 4,573 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $11.07, for a total value of $50,623.11. Following the completion of the sale, the insider now owns 335,324 shares of the company’s stock, valued at approximately $3,712,036.68. This represents a 1.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alan Mateo bought 40,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was acquired at an average price of $11.14 per share, for a total transaction of $445,600.00. Following the transaction, the director now owns 61,691 shares in the company, valued at $687,237.74. This trade represents a 184.41% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 9.39% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Signaturefd LLC grew its holdings in 10x Genomics by 424.6% in the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock worth $26,000 after acquiring an additional 1,452 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of 10x Genomics during the fourth quarter valued at approximately $32,000. Blue Trust Inc. boosted its holdings in 10x Genomics by 73.1% in the fourth quarter. Blue Trust Inc. now owns 3,075 shares of the company’s stock valued at $44,000 after acquiring an additional 1,299 shares in the last quarter. Sound Income Strategies LLC increased its position in 10x Genomics by 65.2% during the 4th quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock valued at $48,000 after purchasing an additional 1,330 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of 10x Genomics in the 4th quarter worth about $52,000. 84.68% of the stock is owned by institutional investors.

About 10x Genomics

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in the America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium, chromium connect, and chromium controller instruments, microfluidic chips, slides, reagents, and other consumables products.