10x Genomics (NASDAQ:TXG – Free Report) had its price objective hoisted by Bank of America from $12.00 to $13.00 in a report issued on Thursday,Benzinga reports. Bank of America currently has a neutral rating on the stock.
Several other equities analysts have also weighed in on the stock. Barclays reissued an “overweight” rating and issued a $13.00 price objective (up from $12.00) on shares of 10x Genomics in a research report on Tuesday. JPMorgan Chase & Co. lowered their price target 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. UBS Group cut their price objective on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Canaccord Genuity Group reduced their price objective on 10x Genomics from $18.00 to $15.00 and set a “buy” rating for the company in a report on Monday, May 12th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a research report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $14.96.
View Our Latest Analysis on 10x Genomics
10x Genomics Stock Up 0.3%
10x Genomics (NASDAQ:TXG – Get Free Report) last posted its 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 return on equity of 23.22% and a negative net margin of 25.14%. The business had revenue of $154.88 million for the quarter, compared to analyst estimates of $131.91 million. During the same period in the previous year, the firm earned ($0.50) EPS. The firm’s revenue was down 2.3% compared to the same quarter last year. Equities research analysts expect that 10x Genomics will post -1.43 EPS for the current year.
Insiders Place Their Bets
In related news, CFO Adam Taich sold 4,044 shares of 10x Genomics stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total value of $33,565.20. Following the transaction, the chief financial officer now directly owns 331,588 shares of the company’s stock, valued at $2,752,180.40. This trade represents a 1.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Benjamin J. Hindson sold 7,485 shares of the business’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 transaction, the insider now owns 448,374 shares of the company’s stock, valued at approximately $3,721,504.20. This represents a 1.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,872 shares of company stock worth $173,238 in the last 90 days. Company insiders own 9.39% of the company’s stock.
Institutional Investors Weigh In On 10x Genomics
Large investors have recently modified their holdings of the business. Blue Trust Inc. raised its holdings in shares of 10x Genomics by 86.5% during the 4th quarter. Blue Trust Inc. now owns 3,312 shares of the company’s stock worth $48,000 after buying an additional 1,536 shares in the last quarter. Sanctuary Advisors LLC grew its position in 10x Genomics by 36.0% in the fourth quarter. Sanctuary Advisors LLC now owns 24,433 shares of the company’s stock valued at $368,000 after acquiring an additional 6,474 shares during the last quarter. Atria Wealth Solutions Inc. raised its stake in 10x Genomics by 9.6% during the fourth quarter. Atria Wealth Solutions Inc. now owns 10,788 shares of the company’s stock worth $155,000 after acquiring an additional 943 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of 10x Genomics by 24.8% in the fourth quarter. Handelsbanken Fonder AB now owns 35,200 shares of the company’s stock worth $505,000 after acquiring an additional 7,000 shares during the last quarter. Finally, SVB Wealth LLC acquired a new stake in shares of 10x Genomics in the 4th quarter valued at approximately $7,505,000. Institutional investors and hedge funds own 84.68% of the company’s stock.
10x Genomics Company Profile
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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