10x Genomics (NASDAQ:TXG) Receives $15.73 Average Target Price from Brokerages

Shares of 10x Genomics (NASDAQ:TXG) have earned a consensus rating of “Hold” from the sixteen brokerages that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $15.7308.

A number of analysts have recently weighed in on the company. Wall Street Zen cut 10x Genomics from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. 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. Zacks Research cut 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Citigroup lowered shares of 10x Genomics from a “buy” rating to a “cautious” rating in a research report on Thursday, December 11th. Finally, Piper Sandler increased their price objective on shares of 10x Genomics from $15.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th.

10x Genomics Stock Performance

10x Genomics stock opened at $16.00 on Tuesday. 10x Genomics has a 1 year low of $6.78 and a 1 year high of $20.34. The firm’s 50-day moving average is $15.37 and its 200-day moving average is $13.45. The company has a market cap of $2.02 billion, a P/E ratio of -25.81 and a beta of 2.15.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.05. 10x Genomics had a negative net margin of 11.89% and a negative return on equity of 11.50%. The business had revenue of $149.00 million during the quarter, compared to the consensus estimate of $142.50 million. During the same quarter in the prior year, the firm earned ($0.30) EPS. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, sell-side analysts predict that 10x Genomics will post -1.43 earnings per share for the current year.

Insider Buying and Selling at 10x Genomics

In related news, CEO Serge Saxonov sold 13,261 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $19.00, for a total value of $251,959.00. Following the sale, the chief executive officer directly owned 1,021,556 shares in the company, valued at $19,409,564. This trade represents a 1.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Adam Taich sold 11,888 shares of 10x Genomics stock in a transaction on Monday, November 24th. The shares were sold at an average price of $19.00, for a total value of $225,872.00. Following the sale, the chief financial officer directly owned 297,385 shares in the company, valued at $5,650,315. The trade was a 3.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 33,432 shares of company stock worth $635,208. 9.39% of the stock is owned by company insiders.

Institutional Investors Weigh In On 10x Genomics

A number of institutional investors have recently added to or reduced their stakes in TXG. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of 10x Genomics by 235.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,103,768 shares of the company’s stock worth $62,016,000 after acquiring an additional 4,987,195 shares in the last quarter. Millennium Management LLC raised its position in shares of 10x Genomics by 434.5% during the first quarter. Millennium Management LLC now owns 5,377,492 shares of the company’s stock worth $46,946,000 after purchasing an additional 4,371,327 shares during the period. AQR Capital Management LLC lifted its holdings in shares of 10x Genomics by 241.3% during the second quarter. AQR Capital Management LLC now owns 4,137,801 shares of the company’s stock valued at $47,916,000 after purchasing an additional 2,925,372 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of 10x Genomics by 126.6% in the 3rd quarter. Wellington Management Group LLP now owns 4,285,628 shares of the company’s stock valued at $50,099,000 after purchasing an additional 2,394,355 shares during the period. Finally, Quantinno Capital Management LP boosted its position in shares of 10x Genomics by 207.2% in the 2nd quarter. Quantinno Capital Management LP now owns 2,233,526 shares of the company’s stock valued at $25,864,000 after purchasing an additional 1,506,530 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

About 10x Genomics

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.