Brokerages Set 10x Genomics (NASDAQ:TXG) PT at $23.17

Shares of 10x Genomics (NASDAQ:TXG) have been given an average recommendation of “Hold” by the fifteen research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $23.1667.

TXG has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of 10x Genomics in a research report on Friday, March 27th. Stifel Nicolaus upped their price target on 10x Genomics from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. TD Cowen upped their price target on 10x Genomics from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Friday, February 13th. Barclays increased their target price on 10x Genomics from $22.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, April 14th. Finally, Bank of America increased their target price on 10x Genomics from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, April 20th.

10x Genomics Price Performance

Shares of NASDAQ:TXG opened at $22.29 on Friday. The business’s fifty day moving average price is $21.43 and its two-hundred day moving average price is $19.42. 10x Genomics has a fifty-two week low of $8.06 and a fifty-two week high of $26.44. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of -131.12 and a beta of 2.05.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.10) earnings per share 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 for the quarter, compared to analysts’ expectations of $146.41 million. During the same period in the prior year, the business posted ($0.28) earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. Research analysts expect that 10x Genomics will post -0.82 EPS for the current fiscal year.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $24.56, for a total value of $122,800.00. Following the completion of the sale, the chief executive officer owned 1,167,273 shares in the company, valued at approximately $28,668,224.88. This trade represents a 0.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Benjamin J. Hindson sold 7,826 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $18.58, for a total transaction of $145,407.08. Following the completion of the sale, the insider owned 424,779 shares of the company’s stock, valued at $7,892,393.82. The trade was a 1.81% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 46,426 shares of company stock worth $902,695. 8.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On 10x Genomics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. acquired a new stake in 10x Genomics in the 4th quarter valued at about $38,000. Larson Financial Group LLC boosted its holdings in 10x Genomics by 164.4% in the fourth quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock valued at $39,000 after acquiring an additional 1,470 shares during the last quarter. Fifth Third Bancorp bought a new position in 10x Genomics in the first quarter valued at about $50,000. Van ECK Associates Corp boosted its holdings in 10x Genomics by 85.9% in 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, Abich Financial Wealth Management LLC bought a new position in 10x Genomics in the third quarter valued at about $56,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.