10x Genomics (NASDAQ:TXG) Rating Increased to Outperform at William Blair

William Blair upgraded shares of 10x Genomics (NASDAQ:TXG) from a market perform rating to an outperform rating in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports.

A number of other equities analysts also recently issued reports on the company. UBS Group increased their price target on 10x Genomics from $14.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, February 20th. TD Cowen upped their price objective on shares of 10x Genomics from $18.00 to $19.00 and gave the stock a “hold” rating in a research note on Friday, February 13th. Barclays increased their target price on shares of 10x Genomics from $17.00 to $22.00 and gave the stock an “overweight” rating in a report on Monday, December 15th. Morgan Stanley reissued an “equal weight” rating and set a $20.00 target price (up from $17.00) on shares of 10x Genomics in a research report on Monday, December 1st. Finally, Stifel Nicolaus boosted their price target on shares of 10x Genomics from $20.00 to $25.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $18.46.

10x Genomics Stock Performance

10x Genomics stock opened at $21.23 on Tuesday. The company has a market capitalization of $2.71 billion, a PE ratio of -60.66 and a beta of 2.20. The company has a 50 day moving average price of $19.97 and a 200-day moving average price of $17.09. 10x Genomics has a fifty-two week low of $6.78 and a fifty-two week high of $23.56.

10x Genomics (NASDAQ:TXG) last announced 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 company 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%.10x Genomics’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.40) earnings per share. On average, analysts forecast that 10x Genomics will post -1.43 earnings per share for the current year.

Insider Buying and Selling

In other 10x Genomics news, CEO Serge Saxonov sold 5,000 shares of the business’s stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $19.52, for a total value of $97,600.00. Following the completion of the transaction, the chief executive officer directly owned 1,172,273 shares in the company, valued at approximately $22,882,768.96. The trade was a 0.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 transaction of $145,407.08. Following the sale, the insider directly owned 424,779 shares of the company’s stock, valued at approximately $7,892,393.82. The trade was a 1.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 41,426 shares of company stock worth $779,895 in the last three months. 10.03% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

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.