10x Genomics (NASDAQ:TXG) Rating Reiterated by Wolfe Research

10x Genomics (NASDAQ:TXG)‘s stock had its “peer perform” rating reaffirmed by equities researchers at Wolfe Research in a report released on Thursday, Marketbeat reports.

Several other equities analysts have also commented on TXG. The Goldman Sachs Group cut their price target on 10x Genomics from $30.00 to $26.00 and set a “sell” rating on the stock in a research note on Wednesday, May 1st. Barclays cut their price target on 10x Genomics from $55.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft cut their price target on 10x Genomics from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. UBS Group cut their price target on 10x Genomics from $52.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Finally, Bank of America dropped their price objective on 10x Genomics from $45.00 to $36.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, 10x Genomics currently has an average rating of “Hold” and an average price target of $45.00.

10x Genomics Stock Performance

NASDAQ:TXG opened at $19.45 on Thursday. The stock’s fifty day moving average is $23.62 and its 200 day moving average is $37.03. 10x Genomics has a fifty-two week low of $18.39 and a fifty-two week high of $63.57. The firm has a market capitalization of $2.32 billion, a PE ratio of -8.72 and a beta of 1.87.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings results on Tuesday, April 30th. The company reported ($0.50) earnings per share for the quarter, meeting the consensus estimate of ($0.50). 10x Genomics had a negative return on equity of 30.85% and a negative net margin of 42.20%. The company had revenue of $141.01 million for the quarter, compared to analyst estimates of $142.24 million. During the same quarter in the prior year, the firm posted ($0.44) EPS. 10x Genomics’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities analysts forecast that 10x Genomics will post -1.53 EPS for the current year.

Insider Activity at 10x Genomics

In other news, CEO Serge Saxonov sold 4,877 shares of 10x Genomics stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $118,511.10. Following the sale, the chief executive officer now directly owns 889,641 shares of the company’s stock, valued at $21,618,276.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Serge Saxonov sold 4,877 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $118,511.10. Following the transaction, the chief executive officer now owns 889,641 shares of the company’s stock, valued at approximately $21,618,276.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Justin J. Mcanear sold 2,936 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total value of $71,344.80. Following the completion of the sale, the chief financial officer now owns 146,203 shares in the company, valued at approximately $3,552,732.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,900 shares of company stock worth $289,170. 10.03% of the stock is owned by corporate insiders.

Institutional Trading of 10x Genomics

A number of large investors have recently made changes to their positions in the company. Westwood Holdings Group Inc. acquired a new stake in 10x Genomics during the 1st quarter worth approximately $939,000. Swedbank AB acquired a new stake in 10x Genomics during the 1st quarter worth approximately $675,000. Jacobs Levy Equity Management Inc. acquired a new stake in 10x Genomics during the 1st quarter worth approximately $3,647,000. Bellevue Group AG lifted its position in 10x Genomics by 5.2% during the 1st quarter. Bellevue Group AG now owns 308,311 shares of the company’s stock worth $11,571,000 after acquiring an additional 15,138 shares during the period. Finally, Bamco Inc. NY lifted its position in 10x Genomics by 59.4% during the 1st quarter. Bamco Inc. NY now owns 314,862 shares of the company’s stock worth $11,817,000 after acquiring an additional 117,300 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

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.