10x Genomics’ (TXG) Overweight Rating Reaffirmed at Stephens

Stephens reissued their overweight rating on shares of 10x Genomics (NASDAQ:TXG) in a research note issued to investors on Thursday,Benzinga reports. Stephens currently has a $14.00 target price on the stock.

Other equities research analysts have also issued reports about the company. Citigroup reduced their target price on 10x Genomics from $20.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. UBS Group reduced their price objective on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday. Stifel Nicolaus lowered their target price on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Leerink Partnrs lowered shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 13th. Finally, Morgan Stanley decreased their price target on shares of 10x Genomics from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $16.42.

10x Genomics Stock Up 0.9%

Shares of TXG stock opened at $9.20 on Thursday. The stock has a 50-day simple moving average of $8.80 and a 200 day simple moving average of $12.41. 10x Genomics has a fifty-two week low of $6.78 and a fifty-two week high of $26.18. The stock has a market capitalization of $1.13 billion, a P/E ratio of -6.05 and a beta of 1.94.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.09. The firm had revenue of $154.88 million during the quarter, compared to analyst estimates of $131.91 million. 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. The company’s revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.50) EPS. On average, sell-side analysts anticipate that 10x Genomics will post -1.43 earnings per share for the current year.

Insider Buying and Selling at 10x Genomics

In related news, Director Alan Mateo acquired 40,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was purchased at an average price of $11.14 per share, for a total transaction 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 position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Serge Saxonov sold 5,092 shares of the company’s stock in a transaction on Monday, February 24th. The shares were 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 in the company, valued at $9,735,865.74. This trade represents a 0.58% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.39% of the company’s stock.

Institutional Trading of 10x Genomics

Several institutional investors and hedge funds have recently added to or reduced their stakes in TXG. Signaturefd LLC boosted its stake in shares of 10x Genomics by 424.6% in the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock valued at $26,000 after purchasing an additional 1,452 shares during the last quarter. GAMMA Investing LLC lifted its holdings in 10x Genomics by 81.8% in the first quarter. GAMMA Investing LLC now owns 3,586 shares of the company’s stock valued at $31,000 after buying an additional 1,614 shares during the period. GF Fund Management CO. LTD. bought a new position in 10x Genomics in the fourth quarter valued at approximately $32,000. Whittier Trust Co. acquired a new stake in 10x Genomics during the 1st quarter worth $41,000. Finally, Blue Trust Inc. raised its position in shares of 10x Genomics by 73.1% during the 4th quarter. Blue Trust Inc. now owns 3,075 shares of the company’s stock valued at $44,000 after acquiring an additional 1,299 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

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.