10x Genomics, Inc. (NASDAQ:TXG) Receives Average Recommendation of “Hold” from Brokerages

Shares of 10x Genomics, Inc. (NASDAQ:TXG) have earned an average recommendation of “Hold” from the sixteen analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $18.62.

TXG has been the topic of several recent research reports. UBS Group reduced their price objective on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Leerink Partnrs cut 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 13th. Barclays reduced their target price on 10x Genomics from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Morgan Stanley cut their price objective on 10x Genomics from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Finally, Canaccord Genuity Group lowered their target price on 10x Genomics from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th.

Insider Activity

In related news, Director Alan Mateo purchased 40,000 shares of 10x Genomics stock in a transaction on Friday, February 21st. The shares were bought at an average price of $11.14 per share, with a total value of $445,600.00. Following the transaction, the director now directly owns 61,691 shares of the company’s stock, valued at approximately $687,237.74. This trade represents a 184.41% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Serge Saxonov sold 5,092 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $56,368.44. Following the transaction, the chief executive officer now directly owns 879,482 shares of the company’s stock, valued at approximately $9,735,865.74. This represents a 0.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.39% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Several large investors have recently modified their holdings of the company. Signaturefd LLC lifted its position in 10x Genomics by 424.6% during the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock worth $26,000 after acquiring an additional 1,452 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of 10x Genomics during the fourth quarter worth $32,000. Blue Trust Inc. grew its position in 10x Genomics by 73.1% in the 4th quarter. Blue Trust Inc. now owns 3,075 shares of the company’s stock valued at $44,000 after buying an additional 1,299 shares during the last quarter. Sound Income Strategies LLC increased its stake in 10x Genomics by 65.2% in the 4th quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock valued at $48,000 after buying an additional 1,330 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in 10x Genomics during the 4th quarter worth $52,000. 84.68% of the stock is owned by institutional investors and hedge funds.

10x Genomics Stock Up 2.8%

Shares of NASDAQ:TXG opened at $8.87 on Monday. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -5.84 and a beta of 1.94. 10x Genomics has a 12-month low of $6.78 and a 12-month high of $28.25. The business’s 50 day moving average is $8.95 and its 200 day moving average is $12.54.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.08). 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. As a group, equities research analysts expect that 10x Genomics will post -1.43 earnings per share for the current year.

10x Genomics Company Profile

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in the America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium, chromium connect, and chromium controller instruments, microfluidic chips, slides, reagents, and other consumables products.