10x Genomics (NASDAQ:TXG) Receives Neutral Rating from Citigroup

10x Genomics (NASDAQ:TXG)‘s stock had its “neutral” rating restated by research analysts at Citigroup in a report released on Thursday, MarketBeat reports.

A number of other analysts also recently commented on TXG. Zacks Research downgraded 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. UBS Group upped their price objective on 10x Genomics from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Piper Sandler raised their target price on 10x Genomics from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Morgan Stanley restated an “equal weight” rating and issued a $20.00 target price (up from $17.00) on shares of 10x Genomics in a research note on Monday, December 1st. Finally, JPMorgan Chase & Co. upped their price target on shares of 10x Genomics from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, 10x Genomics presently has a consensus rating of “Hold” and a consensus price target of $15.12.

10x Genomics Price Performance

TXG opened at $17.53 on Thursday. 10x Genomics has a fifty-two week low of $6.78 and a fifty-two week high of $20.34. The firm has a market capitalization of $2.22 billion, a P/E ratio of -28.27 and a beta of 2.15. The company’s 50-day moving average is $14.93 and its 200 day moving average is $13.19.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.05. 10x Genomics had a negative net margin of 11.89% and a negative return on equity of 11.50%. The firm had revenue of $149.00 million during the quarter, compared to analyst estimates of $142.50 million. During the same quarter last year, the business posted ($0.30) EPS. The company’s revenue for the quarter was down 1.7% 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 year.

Insider Transactions at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 13,261 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $19.00, for a total transaction of $251,959.00. Following the completion of the transaction, the chief executive officer owned 1,021,556 shares of the company’s stock, valued at approximately $19,409,564. This trade represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Benjamin J. Hindson sold 8,283 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $19.00, for a total value of $157,377.00. Following the completion of the sale, the insider directly owned 432,605 shares in the company, valued at approximately $8,219,495. This represents a 1.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 33,432 shares of company stock valued at $635,208. Corporate insiders own 9.39% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TXG. Allworth Financial LP lifted its holdings in shares of 10x Genomics by 150.4% during the second quarter. Allworth Financial LP now owns 2,271 shares of the company’s stock valued at $26,000 after purchasing an additional 1,364 shares in the last quarter. True Wealth Design LLC raised its position in 10x Genomics by 1,552.5% in the 2nd quarter. True Wealth Design LLC now owns 3,586 shares of the company’s stock worth $42,000 after buying an additional 3,369 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in 10x Genomics by 153.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,150 shares of the company’s stock valued at $45,000 after acquiring an additional 3,119 shares during the period. US Bancorp DE boosted its holdings in shares of 10x Genomics by 314.5% during the 1st quarter. US Bancorp DE now owns 5,973 shares of the company’s stock valued at $52,000 after acquiring an additional 4,532 shares during the last quarter. Finally, Abich Financial Wealth Management LLC bought a new stake in shares of 10x Genomics in the third quarter worth approximately $56,000. Hedge funds and other institutional investors 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.