10x Genomics (NASDAQ:TXG) Price Target Raised to $18.00 at TD Cowen

10x Genomics (NASDAQ:TXG) had its price target lifted by TD Cowen from $15.00 to $18.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a hold rating on the stock.

Several other analysts also recently issued reports on the stock. Canaccord Genuity Group upped their price objective on shares of 10x Genomics from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Piper Sandler boosted their target price on shares of 10x Genomics from $15.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. JPMorgan Chase & Co. raised their price target on 10x Genomics from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, November 7th. Zacks Research lowered 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Finally, Barclays increased their target price on 10x Genomics from $17.00 to $22.00 and gave the company an “overweight” rating in a research note on Monday, December 15th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.96.

10x Genomics Stock Performance

Shares of NASDAQ TXG opened at $19.99 on Wednesday. The business’s 50-day simple moving average is $16.63 and its 200-day simple moving average is $14.14. 10x Genomics has a 52 week low of $6.78 and a 52 week high of $20.34. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of -32.24 and a beta of 2.18.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Thursday, November 6th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.05. 10x Genomics had a negative return on equity of 11.50% and a negative net margin of 11.89%.The firm had revenue of $149.00 million during the quarter, compared to analyst estimates of $142.50 million. During the same period in the previous year, the company earned ($0.30) EPS. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, equities research analysts forecast that 10x Genomics will post -1.43 earnings per share for the current year.

Insider Buying and Selling at 10x Genomics

In other news, CFO Adam Taich sold 11,888 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $19.00, for a total transaction of $225,872.00. Following the sale, the chief financial officer directly owned 297,385 shares in the company, valued at approximately $5,650,315. The trade was a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Benjamin J. Hindson sold 8,283 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $19.00, for a total value of $157,377.00. Following the completion of the transaction, the insider owned 432,605 shares of the company’s stock, valued at $8,219,495. The trade was a 1.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 33,432 shares of company stock valued at $635,208 in the last quarter. Corporate insiders own 9.39% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Institutional investors have recently bought and sold shares of the business. Allworth Financial LP raised its stake in shares of 10x Genomics by 150.4% in the 2nd quarter. Allworth Financial LP now owns 2,271 shares of the company’s stock valued at $26,000 after buying an additional 1,364 shares in the last quarter. True Wealth Design LLC increased its stake in 10x Genomics by 1,552.5% in the second quarter. True Wealth Design LLC now owns 3,586 shares of the company’s stock valued at $42,000 after acquiring an additional 3,369 shares during the period. Abich Financial Wealth Management LLC bought a new stake in 10x Genomics in the third quarter valued at about $56,000. Blue Trust Inc. raised its position in 10x Genomics by 48.1% in the second quarter. Blue Trust Inc. now owns 4,894 shares of the company’s stock worth $57,000 after purchasing an additional 1,590 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in 10x Genomics by 203.9% during the second quarter. EverSource Wealth Advisors LLC now owns 7,490 shares of the company’s stock worth $87,000 after purchasing an additional 5,025 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

About 10x Genomics

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.