10x Genomics, Inc. (NASDAQ:TXG) Given Consensus Recommendation of “Hold” by Brokerages

Shares of 10x Genomics, Inc. (NASDAQ:TXG) have been given a consensus rating of “Hold” by the sixteen brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $18.85.

Several brokerages recently weighed in on TXG. Canaccord Genuity Group dropped their target price on shares of 10x Genomics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Leerink Partners lowered shares of 10x Genomics from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $25.00 to $12.00 in a report on Thursday, February 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of 10x Genomics in a research report on Thursday, April 24th. Morgan Stanley reduced their price objective on shares of 10x Genomics from $28.00 to $26.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Finally, Barclays decreased their target price on shares of 10x Genomics from $15.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th.

10x Genomics Trading Up 4.1 %

TXG stock opened at $8.43 on Monday. 10x Genomics has a 12-month low of $6.78 and a 12-month high of $28.25. The stock’s 50 day simple moving average is $9.17 and its 200 day simple moving average is $12.78. The stock has a market capitalization of $1.03 billion, a PE ratio of -5.55 and a beta of 2.01.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.08). 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. On average, research analysts predict that 10x Genomics will post -1.43 earnings per share for the current year.

Insiders Place Their Bets

In other 10x Genomics news, Director Alan Mateo bought 40,000 shares of 10x Genomics stock in a transaction dated Friday, February 21st. The stock was acquired at an average cost of $11.14 per share, with a total value of $445,600.00. Following the purchase, the director now directly owns 61,691 shares in the company, valued at $687,237.74. This represents a 184.41 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Serge Saxonov sold 5,092 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $11.07, for a total transaction of $56,368.44. Following the transaction, the chief executive officer now owns 879,482 shares of the company’s stock, valued at approximately $9,735,865.74. This trade represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. 10.03% of the stock is owned by insiders.

Institutional Investors Weigh In On 10x Genomics

Large investors have recently made changes to their positions in the stock. Barclays PLC increased its stake in 10x Genomics by 11.7% during the third quarter. Barclays PLC now owns 602,536 shares of the company’s stock worth $13,605,000 after acquiring an additional 63,079 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of 10x Genomics by 355.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 355,488 shares of the company’s stock worth $8,027,000 after purchasing an additional 277,355 shares during the period. Diversified Trust Co acquired a new stake in shares of 10x Genomics during the 4th quarter worth about $511,000. Green Alpha Advisors LLC purchased a new stake in 10x Genomics in the 4th quarter valued at about $355,000. Finally, Assenagon Asset Management S.A. acquired a new position in 10x Genomics in the fourth quarter valued at about $26,308,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

About 10x Genomics

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.