10x Genomics (NASDAQ:TXG) Receives Consensus Rating of “Hold” from Analysts

10x Genomics (NASDAQ:TXG) has been given a consensus rating of “Hold” by the thirteen ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $14.13.

A number of brokerages have recently issued reports on TXG. Barclays restated an “overweight” rating and issued a $13.00 price objective (up previously from $12.00) on shares of 10x Genomics in a research note on Tuesday, June 24th. Wall Street Zen cut shares of 10x Genomics from a “buy” rating to a “hold” rating in a research note on Saturday, June 28th. Morgan Stanley dropped their price objective on shares of 10x Genomics from $26.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, May 19th. Stephens reiterated an “overweight” rating and set a $14.00 target price on shares of 10x Genomics in a research report on Thursday, May 15th. Finally, UBS Group dropped their target price on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th.

Insider Activity

In other news, insider Benjamin J. Hindson sold 7,485 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total value of $62,125.50. Following the transaction, the insider owned 448,374 shares of the company’s stock, valued at approximately $3,721,504.20. This trade represents a 1.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Serge Saxonov sold 9,343 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total transaction of $77,546.90. Following the completion of the transaction, the chief executive officer directly owned 1,083,625 shares in the company, valued at $8,994,087.50. This trade represents a 0.85% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,872 shares of company stock valued at $173,238. 9.39% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC boosted its stake in 10x Genomics by 0.6% during the 4th quarter. FMR LLC now owns 13,454,434 shares of the company’s stock worth $193,206,000 after acquiring an additional 86,455 shares during the last quarter. ARK Investment Management LLC lifted its stake in 10x Genomics by 7.5% in the first quarter. ARK Investment Management LLC now owns 12,845,713 shares of the company’s stock valued at $112,143,000 after buying an additional 901,656 shares in the last quarter. Vanguard Group Inc. lifted its stake in 10x Genomics by 1.7% in the first quarter. Vanguard Group Inc. now owns 11,118,086 shares of the company’s stock valued at $97,061,000 after buying an additional 184,537 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in 10x Genomics by 235.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,103,768 shares of the company’s stock valued at $62,016,000 after buying an additional 4,987,195 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in 10x Genomics by 434.5% in the first quarter. Millennium Management LLC now owns 5,377,492 shares of the company’s stock valued at $46,946,000 after buying an additional 4,371,327 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

10x Genomics Price Performance

Shares of 10x Genomics stock opened at $12.15 on Friday. 10x Genomics has a fifty-two week low of $6.78 and a fifty-two week high of $24.76. The firm has a fifty day moving average price of $10.60 and a two-hundred day moving average price of $11.01. The company has a market cap of $1.50 billion, a PE ratio of -9.35 and a beta of 2.03.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.09. 10x Genomics had a negative net margin of 25.14% and a negative return on equity of 23.22%. The firm had revenue of $154.88 million during the quarter, compared to the consensus estimate of $131.91 million. During the same period in the prior year, the firm earned ($0.50) EPS. The business’s revenue was down 2.3% on a year-over-year basis. Analysts expect that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

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.