Brokerages Set 10x Genomics, Inc. (NASDAQ:TXG) Target Price at $18.85

Shares of 10x Genomics, Inc. (NASDAQ:TXG) have received a consensus rating of “Hold” from the sixteen brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $18.62.

A number of brokerages have issued reports on TXG. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a report on Thursday, April 24th. UBS Group decreased their target price on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Stifel Nicolaus dropped their price target 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. JPMorgan Chase & Co. reduced their price objective on shares of 10x Genomics from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Citigroup dropped their target price on shares of 10x Genomics from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th.

10x Genomics Stock Performance

TXG stock opened at $8.87 on Monday. The company’s 50 day moving average price is $8.95 and its 200 day moving average price is $12.58. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -5.84 and a beta of 1.94. 10x Genomics has a fifty-two week low of $6.78 and a fifty-two week high of $28.25.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data 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%. Equities analysts forecast that 10x Genomics will post -1.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Alan Mateo acquired 40,000 shares of the business’s stock in a transaction on Friday, February 21st. The stock was bought at an average price 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Benjamin J. Hindson sold 4,573 shares of 10x Genomics stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $50,623.11. Following the completion of the sale, the insider now directly owns 335,324 shares in the company, valued at approximately $3,712,036.68. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. 10.03% of the stock is owned by insiders.

Hedge Funds Weigh In On 10x Genomics

Large investors have recently modified their holdings of the business. Signaturefd LLC grew its holdings in 10x Genomics by 424.6% during the fourth 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. GAMMA Investing LLC boosted its position in shares of 10x Genomics by 81.8% during the 1st quarter. GAMMA Investing LLC now owns 3,586 shares of the company’s stock worth $31,000 after purchasing an additional 1,614 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of 10x Genomics during the 4th quarter worth $32,000. Whittier Trust Co. purchased a new position in shares of 10x Genomics in the 1st quarter valued at about $41,000. Finally, Blue Trust Inc. lifted its stake in shares of 10x Genomics by 73.1% in the fourth quarter. Blue Trust Inc. now owns 3,075 shares of the company’s stock valued at $44,000 after purchasing an additional 1,299 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

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.