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

10x Genomics (NASDAQ:TXG) has received a consensus recommendation of “Hold” from the fifteen analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $25.9167.

TXG has been the subject of several recent analyst reports. Zacks Research lowered shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. William Blair raised shares of 10x Genomics from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 31st. Piper Sandler raised their target price on shares of 10x Genomics from $20.00 to $42.00 and gave the stock a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of 10x Genomics from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Finally, Barclays upped their price target on shares of 10x Genomics from $30.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th.

Insiders Place Their Bets

In other 10x Genomics news, CEO Serge Saxonov sold 30,000 shares of 10x Genomics stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $34.44, for a total transaction of $1,033,200.00. Following the completion of the sale, the chief executive officer directly owned 1,108,380 shares of the company’s stock, valued at $38,172,607.20. The trade was a 2.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Benjamin J. Hindson sold 11,595 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $24.44, for a total transaction of $283,381.80. Following the completion of the sale, the insider directly owned 502,000 shares of the company’s stock, valued at approximately $12,268,880. This trade represents a 2.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 96,309 shares of company stock valued at $2,704,157 in the last three months. 8.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On 10x Genomics

A number of institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. purchased a new position in shares of 10x Genomics in the 4th quarter worth approximately $38,000. Larson Financial Group LLC raised its stake in shares of 10x Genomics by 164.4% during the 4th quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock worth $39,000 after acquiring an additional 1,470 shares in the last quarter. Fifth Third Bancorp purchased a new stake in 10x Genomics during the first quarter valued at approximately $50,000. Van ECK Associates Corp lifted its position in 10x Genomics by 85.9% during the fourth quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock valued at $60,000 after acquiring an additional 1,695 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in 10x Genomics by 28.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,660 shares of the company’s stock valued at $92,000 after acquiring an additional 1,237 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

10x Genomics Price Performance

Shares of 10x Genomics stock opened at $39.01 on Friday. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of -229.47 and a beta of 2.05. The business has a 50-day moving average price of $28.07 and a 200-day moving average price of $22.83. 10x Genomics has a twelve month low of $11.16 and a twelve month high of $40.08.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Thursday, May 7th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.19. 10x Genomics had a negative return on equity of 2.86% and a negative net margin of 3.55%.The firm had revenue of $150.84 million during the quarter, compared to the consensus estimate of $146.41 million. During the same period in the prior year, the company earned ($0.28) EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities analysts expect that 10x Genomics will post -0.79 EPS for the current fiscal year.

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.