10x Genomics (NASDAQ:TXG) Receives Consensus Rating of “Hold” from Brokerages

10x Genomics (NASDAQ:TXGGet Free Report) has earned an average recommendation of “Hold” from the sixteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $15.81.

A number of equities analysts recently issued reports on TXG shares. UBS Group decreased their price target on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Wall Street Zen raised shares of 10x Genomics from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. Canaccord Genuity Group decreased their price target on shares of 10x Genomics from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, May 12th. Citigroup decreased their price target on shares of 10x Genomics from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Finally, Stephens reaffirmed an “overweight” rating and set a $14.00 target price on shares of 10x Genomics in a research note on Thursday, May 15th.

Check Out Our Latest Report on TXG

Insider Buying and Selling at 10x Genomics

In related news, insider Benjamin J. Hindson sold 7,485 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total transaction of $62,125.50. Following the completion of the sale, the insider now owns 448,374 shares of the company’s stock, valued at $3,721,504.20. This trade represents a 1.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Serge Saxonov sold 9,343 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total transaction of $77,546.90. Following the sale, the chief executive officer now directly owns 1,083,625 shares of the company’s stock, valued at $8,994,087.50. This trade represents a 0.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,872 shares of company stock valued at $173,238. Corporate insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Institutional investors and hedge funds have recently made changes to their positions in the company. Signaturefd LLC boosted its holdings in 10x Genomics by 424.6% in the fourth quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock worth $26,000 after purchasing an additional 1,452 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in 10x Genomics in the fourth quarter worth approximately $32,000. Blue Trust Inc. boosted its holdings in 10x Genomics by 86.5% in the fourth quarter. Blue Trust Inc. now owns 3,312 shares of the company’s stock worth $48,000 after purchasing an additional 1,536 shares during the last quarter. GAMMA Investing LLC boosted its holdings in 10x Genomics by 81.8% in the first quarter. GAMMA Investing LLC now owns 3,586 shares of the company’s stock worth $31,000 after purchasing an additional 1,614 shares during the last quarter. Finally, Whittier Trust Co. purchased a new stake in 10x Genomics in the first quarter worth approximately $41,000. Institutional investors own 84.68% of the company’s stock.

10x Genomics Price Performance

TXG stock opened at $10.79 on Tuesday. 10x Genomics has a 1 year low of $6.78 and a 1 year high of $24.76. The company has a market cap of $1.33 billion, a P/E ratio of -8.30 and a beta of 1.99. The firm has a 50-day moving average of $9.08 and a 200 day moving average of $11.29.

10x Genomics (NASDAQ:TXGGet Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.09. 10x Genomics had a negative net margin of 25.14% and a negative return on equity of 23.22%. The company had revenue of $154.88 million during the quarter, compared to the consensus estimate of $131.91 million. During the same period in the prior year, the firm earned ($0.50) earnings per share. 10x Genomics’s revenue was down 2.3% on a year-over-year basis. On average, equities research analysts expect that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

About 10x Genomics

(Get Free Report

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.

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Analyst Recommendations for 10x Genomics (NASDAQ:TXG)

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