10x Genomics (NASDAQ:TXG) Stock Picked Up by Analysts at Argus

Equities researchers at Argus assumed coverage on shares of 10x Genomics (NASDAQ:TXG) in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $110.00 price target on the stock. Argus’ price target would indicate a potential upside of 22.17% from the company’s current price.

Several other brokerages have also issued reports on TXG. Citigroup lifted their price target on 10x Genomics from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Stifel Nicolaus set a $50.00 price objective on 10x Genomics in a report on Friday, August 7th. Royal Bank Of Canada initiated coverage on 10x Genomics in a research report on Tuesday, September 1st. They issued a “sector perform” rating and a $70.00 target price for the company. UBS Group assumed coverage on 10x Genomics in a research note on Wednesday, September 9th. They issued a “neutral” rating and a $68.00 target price for the company. Finally, Stephens increased their price target on shares of 10x Genomics from $50.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Six equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, 10x Genomics currently has a consensus rating of “Hold” and a consensus price target of $53.93.

10x Genomics Stock Up 1.7%

NASDAQ TXG opened at $90.04 on Monday. The company has a market cap of $11.73 billion, a PE ratio of -152.61 and a beta of 2.08. 10x Genomics has a 52 week low of $11.16 and a 52 week high of $91.99. The firm’s 50-day simple moving average is $62.51 and its two-hundred day simple moving average is $40.03.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. The firm had revenue of $151.04 million during the quarter, compared to analyst estimates of $146.67 million. 10x Genomics had a negative return on equity of 9.33% and a negative net margin of 12.18%.The business’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same period last year, the company earned $0.28 earnings per share. As a group, equities research analysts anticipate that 10x Genomics will post -0.75 EPS for the current year.

Insider Transactions at 10x Genomics

In other news, Director John Stuelpnagel sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $61.75, for a total value of $1,235,000.00. Following the completion of the sale, the director owned 328,436 shares of the company’s stock, valued at approximately $20,280,923. The trade was a 5.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Serge Saxonov sold 25,000 shares of the stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $81.22, for a total value of $2,030,500.00. Following the sale, the chief executive officer owned 1,050,249 shares of the company’s stock, valued at $85,301,223.78. This represents a 2.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 179,333 shares of company stock valued at $11,810,070. 8.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On 10x Genomics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TXG. Arizona State Retirement System grew its position in shares of 10x Genomics by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 29,223 shares of the company’s stock worth $1,120,000 after buying an additional 430 shares during the last quarter. Intech Investment Management LLC lifted its stake in 10x Genomics by 1.4% in the fourth quarter. Intech Investment Management LLC now owns 40,047 shares of the company’s stock worth $653,000 after acquiring an additional 567 shares during the period. EverSource Wealth Advisors LLC lifted its stake in 10x Genomics by 16.4% in the first quarter. EverSource Wealth Advisors LLC now owns 7,186 shares of the company’s stock worth $153,000 after acquiring an additional 1,012 shares during the period. Kera Capital Partners Inc. boosted its holdings in 10x Genomics by 2.3% in the first quarter. Kera Capital Partners Inc. now owns 48,937 shares of the company’s stock valued at $1,039,000 after acquiring an additional 1,108 shares in the last quarter. Finally, Elevation Wealth Partners LLC boosted its holdings in 10x Genomics by 332.3% in the second quarter. Elevation Wealth Partners LLC now owns 1,487 shares of the company’s stock valued at $57,000 after acquiring an additional 1,143 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

About 10x Genomics

10x Genomics, Inc develops life science technology for analyzing biological systems at the single-cell and spatial levels. Its platforms are designed to help researchers study gene expression, genetic variation, cell populations and tissue organization with greater detail than conventional laboratory methods.

The company’s product portfolio includes the Chromium platform for single-cell analysis, Visium solutions for spatial transcriptomics and tissue profiling, and Xenium in situ platforms for high-resolution analysis of RNA and other biological features within tissue samples.