Stephens Reaffirms Overweight Rating for 10x Genomics (NASDAQ:TXG)

10x Genomics (NASDAQ:TXG)‘s stock had its “overweight” rating restated by equities researchers at Stephens in a note issued to investors on Thursday,Benzinga reports. They currently have a $14.00 price target on the stock. Stephens’ price objective suggests a potential upside of 49.09% from the company’s current price.

A number of other research firms have also recently weighed in on TXG. The Goldman Sachs Group cut their price target on 10x Genomics from $7.50 to $6.50 and set a “sell” rating for the company in a report on Monday, May 12th. Citigroup cut their target price on shares of 10x Genomics from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Stifel Nicolaus reduced their target price on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a research note on Saturday, May 10th. Finally, Leerink Partners lowered shares of 10x Genomics from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $25.00 to $12.00 in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $16.42.

10x Genomics Stock Up 2.1%

NASDAQ:TXG opened at $9.39 on Thursday. 10x Genomics has a 52-week low of $6.78 and a 52-week high of $25.65. The stock has a fifty day simple moving average of $8.77 and a 200-day simple moving average of $12.36. The company has a market capitalization of $1.15 billion, a PE ratio of -6.18 and a beta of 1.94.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Thursday, May 8th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.09. 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. The firm had revenue of $154.88 million during the quarter, compared to the consensus estimate of $131.91 million. During the same period last year, the firm posted ($0.50) EPS. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, equities analysts anticipate that 10x Genomics will post -1.43 earnings per share for the current year.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, Director Alan Mateo purchased 40,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was purchased at an average cost of $11.14 per share, with a total value of $445,600.00. Following the transaction, the director now owns 61,691 shares in the company, valued at approximately $687,237.74. This trade represents a 184.41% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Serge Saxonov sold 5,092 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $11.07, for a total value of $56,368.44. Following the completion of the sale, the chief executive officer now owns 879,482 shares of the company’s stock, valued at approximately $9,735,865.74. This represents a 0.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On 10x Genomics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Entropy Technologies LP grew its position in 10x Genomics by 285.6% in the fourth quarter. Entropy Technologies LP now owns 37,595 shares of the company’s stock valued at $540,000 after acquiring an additional 27,844 shares in the last quarter. SG Americas Securities LLC grew its holdings in 10x Genomics by 209.8% during the 4th quarter. SG Americas Securities LLC now owns 73,046 shares of the company’s stock valued at $1,049,000 after purchasing an additional 49,468 shares in the last quarter. Alberta Investment Management Corp purchased a new stake in 10x Genomics during the 4th quarter worth $3,206,000. China Universal Asset Management Co. Ltd. acquired a new position in 10x Genomics in the 4th quarter worth $326,000. Finally, Barclays PLC lifted its holdings in 10x Genomics by 11.7% in the 3rd quarter. Barclays PLC now owns 602,536 shares of the company’s stock worth $13,605,000 after buying an additional 63,079 shares in the last quarter. 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.