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

10x Genomics, Inc. (NASDAQ:TXG) has earned a consensus rating of “Hold” from the seventeen analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $20.21.

A number of analysts recently weighed in on TXG shares. Citigroup decreased their price objective 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 decreased their price objective on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Weiss Ratings restated a “sell (e+)” rating on shares of 10x Genomics in a report on Friday, March 7th. Morgan Stanley decreased 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 decreased their price objective on 10x Genomics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 13th.

Insider Activity

In related news, insider Benjamin J. Hindson sold 4,573 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $11.07, for a total value of $50,623.11. Following the transaction, the insider now owns 335,324 shares of the company’s stock, valued at approximately $3,712,036.68. This trade represents a 1.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan Mateo purchased 40,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was acquired at an average cost of $11.14 per share, for a total transaction of $445,600.00. Following the transaction, the director now owns 61,691 shares in the company, valued at $687,237.74. This represents a 184.41 % increase in their position. The disclosure for this purchase can be found here. 10.03% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On 10x Genomics

Hedge funds have recently modified their holdings of the company. Signaturefd LLC lifted its position in shares of 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 buying an additional 1,452 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of 10x Genomics during the 4th quarter worth approximately $32,000. Venturi Wealth Management LLC lifted its position in shares of 10x Genomics by 1,108.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,442 shares of the company’s stock worth $55,000 after buying an additional 2,240 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of 10x Genomics by 53.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 2,910 shares of the company’s stock worth $66,000 after buying an additional 1,012 shares in the last quarter. Finally, Blue Trust Inc. lifted 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 worth $44,000 after buying an additional 1,299 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

10x Genomics Stock Performance

Shares of TXG opened at $10.39 on Friday. 10x Genomics has a 52 week low of $9.27 and a 52 week high of $38.49. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -6.84 and a beta of 1.93. The stock has a fifty day moving average of $12.68 and a 200-day moving average of $15.53.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates 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 analysts forecast that 10x Genomics will post -1.43 EPS for the current year.

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.