10x Genomics (NASDAQ:TXG) Given New $30.00 Price Target at Bank of America

10x Genomics (NASDAQ:TXG) had its target price upped by Bank of America from $21.00 to $30.00 in a research report report published on Monday,Benzinga reports. They currently have a neutral rating on the stock.

TXG has been the topic of a number of other reports. Citigroup raised their price target on 10x Genomics from $18.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 7th. UBS Group upped their price objective on shares of 10x Genomics from $14.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. 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 report on Monday, March 2nd. William Blair raised shares of 10x Genomics from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 31st. Finally, TD Cowen boosted their target price on shares of 10x Genomics from $18.00 to $19.00 and gave the company a “hold” rating in a report on Friday, February 13th. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $20.82.

10x Genomics Stock Performance

Shares of TXG opened at $24.59 on Monday. 10x Genomics has a fifty-two week low of $7.25 and a fifty-two week high of $26.44. The company has a market capitalization of $3.14 billion, a PE ratio of -70.26 and a beta of 2.17. The stock has a fifty day moving average of $20.81 and a two-hundred day moving average of $18.18.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.06. The business had revenue of $166.03 million for the quarter, compared to analysts’ expectations of $160.35 million. 10x Genomics had a negative return on equity of 6.89% and a negative net margin of 6.77%.The business’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.40) earnings per share. As a group, equities research analysts forecast that 10x Genomics will post -0.74 earnings per share for the current fiscal year.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, CFO Adam Taich sold 8,968 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $18.58, for a total transaction 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. The trade was a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Serge Saxonov sold 5,000 shares of the company’s stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $24.56, for a total value of $122,800.00. Following the sale, the chief executive officer owned 1,167,273 shares of the company’s stock, valued at $28,668,224.88. This represents a 0.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 46,426 shares of company stock valued at $902,695. Company insiders own 10.03% of the company’s stock.

Institutional Trading of 10x Genomics

A number of institutional investors and hedge funds have recently bought and sold shares of TXG. Intech Investment Management LLC raised its holdings in 10x Genomics by 1.4% in the fourth quarter. Intech Investment Management LLC now owns 40,047 shares of the company’s stock valued at $653,000 after buying an additional 567 shares during the period. Arizona State Retirement System grew its stake in 10x Genomics by 3.0% during the third quarter. Arizona State Retirement System now owns 29,586 shares of the company’s stock worth $346,000 after buying an additional 872 shares during the period. Certuity LLC increased its position in shares of 10x Genomics by 4.7% in the fourth quarter. Certuity LLC now owns 20,204 shares of the company’s stock worth $330,000 after acquiring an additional 904 shares in the last quarter. Versant Capital Management Inc increased its position in shares of 10x Genomics by 3.3% in the third quarter. Versant Capital Management Inc now owns 29,364 shares of the company’s stock worth $343,000 after acquiring an additional 945 shares in the last quarter. Finally, True Wealth Design LLC raised its stake in shares of 10x Genomics by 26.4% in the 3rd 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 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.