10x Genomics (NASDAQ:TXG) Stock Has Consensus Price Target of $68.00

10x Genomics (NASDAQ:TXG) has earned an average rating of “Hold” from the eighteen ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $68.40.

A number of equities research analysts recently commented on TXG shares. Leerink Partners upped their price target on shares of 10x Genomics from $40.00 to $90.00 and gave the company a “market perform” rating in a report on Tuesday, September 29th. Stephens downgraded shares of 10x Genomics from an “overweight” rating to an “equal weight” rating in a research note on Friday, October 23rd. TD Cowen increased their target price on shares of 10x Genomics from $47.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, October 13th. Barclays dropped their target price on shares of 10x Genomics from $110.00 to $70.00 and set an “overweight” rating for the company in a report on Monday. Finally, UBS Group cut their target price on 10x Genomics from $90.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, Director John Stuelpnagel sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $61.75, for a total value of $1,235,000.00. Following the completion of the sale, the director owned 328,436 shares in the company, valued at approximately $20,280,923. This trade represents a 5.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Benjamin Hindson sold 13,818 shares of 10x Genomics stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $63.02, for a total value of $870,810.36. Following the completion of the sale, the insider owned 488,182 shares in the company, valued at approximately $30,765,229.64. This represents a 2.75% 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 159,333 shares of company stock worth $10,655,070 over the last three months. 8.84% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Carolina Wealth Advisors LLC bought a new stake in shares of 10x Genomics during the third quarter valued at approximately $46,000. Fifth Third Bancorp bought a new position in 10x Genomics in the first quarter worth $50,000. Elevation Wealth Partners LLC raised its holdings in 10x Genomics by 332.3% in the second quarter. Elevation Wealth Partners LLC now owns 1,487 shares of the company’s stock worth $57,000 after purchasing an additional 1,143 shares in the last quarter. V Square Quantitative Management LLC bought a new position in 10x Genomics in the third quarter worth $68,000. Finally, Farther Finance Advisors LLC raised its holdings in 10x Genomics by 29.9% in the third quarter. Farther Finance Advisors LLC now owns 934 shares of the company’s stock worth $84,000 after purchasing an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

10x Genomics Trading Down 3.3%

TXG opened at $62.90 on Friday. The company has a market cap of $8.20 billion, a P/E ratio of -120.96 and a beta of 2.03. The business’s 50-day moving average price is $74.03 and its 200-day moving average price is $42.00. 10x Genomics has a 12 month low of $15.12 and a 12 month high of $102.81.

10x Genomics (NASDAQ:TXG) last released its earnings results on Thursday, November 5th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.12. 10x Genomics had a negative return on equity of 8.26% and a negative net margin of 10.84%. The company had revenue of $150.67 million during the quarter, compared to analyst estimates of $147.96 million. During the same quarter in the previous year, the company posted ($0.22) EPS. 10x Genomics’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities research analysts forecast that 10x Genomics will post -0.74 earnings per share for the current fiscal year.

10x Genomics News Roundup

Here are the key news stories impacting 10x Genomics this week:

• Positive Sentiment: Shanghai Precision Diagnostics and Fudan University Shanghai Cancer Center will use 10x Genomics’ Xenium platform in a 24-month breast cancer study. The research aims to identify biomarkers that could predict response to neoadjuvant therapy, offering a visibility boost for Xenium, though the announcement gives no financial details. Article: Shanghai Precision Diagnostics and Fudan University Shanghai Cancer Center Launch Breast Cancer Biomarker Study Using 10x Genomics’ Xenium Platform
• Positive Sentiment: The company’s Q3 earnings-call coverage highlighted momentum for its Atera platform, which may support investor confidence in product demand. The available report does not provide further specifics. Article: 10x Genomics Earnings Call Highlights Atera Momentum
• Neutral Sentiment: Barclays lowered its price target from $110 to $70 but maintained an Overweight rating. The reduced target signals a more cautious valuation view, while the rating still indicates an expectation of potential upside. Article: Barclays price-target update
• Negative Sentiment: JPMorgan cut its target from $70 to $65 and kept a Neutral rating, adding to valuation pressure on the stock. Article: JPMorgan price-target update

About 10x Genomics

10x Genomics, Inc. develops technology for studying biological systems at single-cell and spatial resolution. Its instruments, consumables and software help researchers analyze gene expression and other features of cells while preserving information about their location within tissue. The company’s product platforms include Chromium for single-cell analysis, Visium for spatial gene-expression analysis and Xenium for in situ analysis of gene activity within tissue samples. Its tools are used in areas such as immunology, neuroscience, cancer research and drug discovery.