10x Genomics (NASDAQ:TXG) Given Average Rating of “Hold” by Brokerages

Shares of 10x Genomics (NASDAQ:TXG) have been given an average rating of “Hold” by the sixteen research firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $18.1071.

A number of equities analysts have recently commented on TXG shares. Canaccord Genuity Group set a $22.00 price target on shares of 10x Genomics in a research report on Friday, February 13th. JPMorgan Chase & Co. lifted their target price on shares of 10x Genomics from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Zacks Research lowered shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Piper Sandler raised their price target on 10x Genomics from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Finally, Deutsche Bank Aktiengesellschaft set a $17.00 price objective on 10x Genomics and gave the stock a “hold” rating in a research report on Friday, February 13th.

10x Genomics Stock Performance

10x Genomics stock opened at $23.05 on Friday. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of -65.86 and a beta of 2.24. 10x Genomics has a 1 year low of $6.78 and a 1 year high of $23.56. The firm’s 50 day moving average price is $19.33 and its two-hundred day moving average price is $16.08.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.06. The firm had revenue of $166.03 million for the quarter, compared to analysts’ expectations of $160.35 million. 10x Genomics had a negative net margin of 6.77% and a negative return on equity of 6.89%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.40) EPS. As a group, equities analysts predict that 10x Genomics will post -1.43 EPS for the current fiscal year.

Insider Buying and Selling at 10x Genomics

In related news, CFO Adam Taich sold 8,968 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $18.58, for a total value of $166,625.44. Following the completion of the transaction, the chief financial officer owned 288,417 shares of the company’s stock, valued at $5,358,787.86. This represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Serge Saxonov sold 9,632 shares of 10x Genomics stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $18.58, for a total value of $178,962.56. Following the transaction, the chief executive officer directly owned 1,061,924 shares of the company’s stock, valued at approximately $19,730,547.92. The trade was a 0.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 26,426 shares of company stock valued at $490,995 in the last 90 days. 9.39% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Allworth Financial LP boosted its position in 10x Genomics by 150.4% in the 2nd quarter. Allworth Financial LP now owns 2,271 shares of the company’s stock valued at $26,000 after buying an additional 1,364 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in 10x Genomics in the fourth quarter valued at about $38,000. Larson Financial Group LLC boosted its holdings in 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 acquiring an additional 1,470 shares during the last quarter. True Wealth Design LLC increased its position in 10x Genomics by 1,552.5% in the second quarter. True Wealth Design LLC now owns 3,586 shares of the company’s stock worth $42,000 after purchasing an additional 3,369 shares during the period. Finally, Abich Financial Wealth Management LLC bought a new stake in 10x Genomics during the 3rd quarter worth about $56,000. Institutional investors own 84.68% of the company’s stock.

10x Genomics Company Profile

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.