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

Shares of 10x Genomics (NASDAQ:TXG) have received an average rating of “Hold” from the sixteen ratings firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $18.1071.

TXG has been the topic of a number of analyst reports. Citigroup lowered shares of 10x Genomics from a “buy” rating to a “cautious” rating in a research report on Thursday, December 11th. TD Cowen increased their price target on 10x Genomics from $18.00 to $19.00 and gave the stock a “hold” rating in a research note on Friday, February 13th. Zacks Research cut 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Deutsche Bank Aktiengesellschaft set a $17.00 target price on 10x Genomics and gave the company a “hold” rating in a research note on Friday, February 13th. Finally, JPMorgan Chase & Co. increased their target price on 10x Genomics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th.

Insider Activity at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 9,632 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $18.58, for a total value of $178,962.56. Following the transaction, the chief executive officer owned 1,061,924 shares in the company, valued at $19,730,547.92. The trade was a 0.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Benjamin J. Hindson sold 7,826 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $18.58, for a total value of $145,407.08. Following the completion of the transaction, the insider directly owned 424,779 shares of the company’s stock, valued at $7,892,393.82. This represents a 1.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 26,426 shares of company stock valued at $490,995. Corporate insiders own 9.39% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allworth Financial LP increased its stake in shares of 10x Genomics by 150.4% during the second quarter. Allworth Financial LP now owns 2,271 shares of the company’s stock valued at $26,000 after acquiring an additional 1,364 shares during the period. Geneos Wealth Management Inc. acquired a new position in shares of 10x Genomics during the 4th quarter valued at $38,000. Larson Financial Group LLC raised its stake in shares of 10x Genomics by 164.4% in the 4th quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock worth $39,000 after buying an additional 1,470 shares in the last quarter. True Wealth Design LLC boosted its stake in 10x Genomics by 1,552.5% during the second quarter. True Wealth Design LLC now owns 3,586 shares of the company’s stock valued at $42,000 after buying an additional 3,369 shares in the last quarter. Finally, Abich Financial Wealth Management LLC bought a new position in 10x Genomics during the third quarter valued at about $56,000. 84.68% of the stock is currently owned by institutional investors.

10x Genomics Stock Performance

Shares of TXG opened at $23.05 on Friday. The stock has a market capitalization of $2.94 billion, a P/E ratio of -65.86 and a beta of 2.24. 10x Genomics has a 1 year low of $6.78 and a 1 year high of $23.56. The company’s fifty day moving average is $19.33 and its two-hundred day moving average is $16.08.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Thursday, February 12th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The firm had revenue of $166.03 million for the quarter, compared to analyst estimates of $160.35 million. 10x Genomics had a negative return on equity of 6.89% and a negative net margin of 6.77%.10x Genomics’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.40) earnings per share. Sell-side analysts predict that 10x Genomics will post -1.43 EPS for the current year.

10x Genomics Company Profile

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.