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

10x Genomics (NASDAQ:TXG) has earned a consensus recommendation of “Hold” from the sixteen ratings firms that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $18.4643.

TXG has been the subject of several research reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $20.00 price objective (up from $17.00) on shares of 10x Genomics in a research note on Monday, December 1st. Stifel Nicolaus raised their target price on shares of 10x Genomics from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. TD Cowen boosted their target price on 10x Genomics from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Friday, February 13th. Leerink Partners dropped their price target on 10x Genomics from $22.00 to $20.00 and set a “market perform” rating for the company in a research report on Tuesday, January 27th. Finally, Canaccord Genuity Group set a $22.00 price target on 10x Genomics in a report on Friday, February 13th.

10x Genomics Trading Up 5.6%

TXG stock opened at $20.91 on Thursday. 10x Genomics has a 12-month low of $6.78 and a 12-month high of $23.56. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of -59.74 and a beta of 2.20. The business’s 50-day moving average is $20.04 and its 200 day moving average is $16.86.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.06. The firm had revenue of $166.03 million during the quarter, compared to the consensus estimate of $160.35 million. 10x Genomics had a negative return on equity of 6.89% and a negative net margin of 6.77%.The firm’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.40) EPS. As a group, equities analysts forecast that 10x Genomics will post -1.43 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Adam Taich sold 8,968 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $18.58, for a total value of $166,625.44. Following the completion of the sale, the chief financial officer owned 288,417 shares of the company’s stock, valued at approximately $5,358,787.86. This represents a 3.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Serge Saxonov sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $19.52, for a total transaction of $97,600.00. Following the sale, the chief executive officer owned 1,172,273 shares of the company’s stock, valued at approximately $22,882,768.96. The trade was a 0.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 41,426 shares of company stock valued at $779,895 in the last three months. 9.39% of the stock is currently owned by insiders.

Hedge Funds Weigh In On 10x Genomics

Institutional investors and hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. acquired a new stake in shares of 10x Genomics during the 4th quarter worth approximately $38,000. Larson Financial Group LLC raised its position in shares of 10x Genomics by 164.4% during the 4th quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock valued at $39,000 after buying an additional 1,470 shares during the period. Van ECK Associates Corp lifted its holdings in 10x Genomics by 85.9% in the fourth quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock valued at $60,000 after acquiring an additional 1,695 shares during the last quarter. True Wealth Design LLC lifted its holdings in 10x Genomics by 26.4% in the third quarter. True Wealth Design LLC now owns 4,534 shares of the company’s stock valued at $53,000 after acquiring an additional 948 shares during the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new position in 10x Genomics in the third quarter worth approximately $56,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

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.