10x Genomics, Inc. (NASDAQ:TXG) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of 10x Genomics, Inc. (NASDAQ:TXG) have earned an average rating of “Moderate Buy” from the seventeen research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $29.19.

A number of brokerages recently commented on TXG. Citigroup dropped their price target on 10x Genomics from $35.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Leerink Partnrs raised shares of 10x Genomics to a “strong-buy” rating in a research note on Tuesday, September 3rd. Leerink Partners started coverage on 10x Genomics in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price objective on the stock. Stephens reissued an “overweight” rating and issued a $30.00 target price on shares of 10x Genomics in a research report on Thursday, October 10th. Finally, The Goldman Sachs Group lowered their target price on 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a research note on Wednesday, October 30th.

Insider Activity at 10x Genomics

In other news, insider Benjamin J. Hindson sold 4,351 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $98,028.03. Following the completion of the transaction, the insider now owns 345,704 shares in the company, valued at $7,788,711.12. The trade was a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Justin J. Mcanear sold 2,961 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $66,711.33. Following the sale, the chief financial officer now directly owns 143,242 shares in the company, valued at $3,227,242.26. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,061 shares of company stock valued at $316,794. 10.03% of the stock is owned by insiders.

Hedge Funds Weigh In On 10x Genomics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its stake in shares of 10x Genomics by 113.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock worth $26,000 after acquiring an additional 371 shares during the period. Covestor Ltd boosted its holdings in 10x Genomics by 501.7% in the first quarter. Covestor Ltd now owns 1,047 shares of the company’s stock worth $39,000 after purchasing an additional 873 shares during the last quarter. GAMMA Investing LLC grew its position in 10x Genomics by 451.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock worth $35,000 after purchasing an additional 1,265 shares during the period. Capital Performance Advisors LLP purchased a new stake in 10x Genomics during the 3rd quarter valued at $35,000. Finally, Blue Trust Inc. boosted its stake in shares of 10x Genomics by 136.5% in the 3rd quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock worth $40,000 after buying an additional 1,025 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

10x Genomics Stock Down 5.5 %

Shares of 10x Genomics stock opened at $13.34 on Monday. The company’s fifty day simple moving average is $18.42 and its two-hundred day simple moving average is $20.35. 10x Genomics has a 12-month low of $13.30 and a 12-month high of $57.90. The firm has a market cap of $1.61 billion, a PE ratio of -8.72 and a beta of 1.87.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. 10x Genomics had a negative return on equity of 25.07% and a negative net margin of 28.93%. The company had revenue of $151.65 million for the quarter, compared to the consensus estimate of $158.84 million. During the same quarter in the previous year, the business earned ($0.51) EPS. 10x Genomics’s revenue was down 1.3% compared to the same quarter last year. As a group, sell-side analysts expect that 10x Genomics will post -1.4 earnings per share for the current fiscal year.

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.