10x Genomics (NASDAQ:TXG) Receives $38.31 Average PT from Brokerages

Shares of 10x Genomics (NASDAQ:TXG) have been given an average recommendation of “Hold” by the sixteen analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $38.3077.

Several research analysts recently weighed in on TXG shares. Citigroup boosted their price target on shares of 10x Genomics from $45.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Piper Sandler lifted their target price on shares of 10x Genomics from $42.00 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Zacks Research lowered 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Morgan Stanley increased their price target on 10x Genomics from $37.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Finally, Canaccord Genuity Group lifted their target price on 10x Genomics from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, August 10th.

10x Genomics Trading Down 5.1%

NASDAQ TXG opened at $61.54 on Friday. The firm has a market capitalization of $8.02 billion, a P/E ratio of -104.30 and a beta of 2.03. The business has a fifty day simple moving average of $48.16 and a 200 day simple moving average of $31.83. 10x Genomics has a 12 month low of $11.16 and a 12 month high of $66.94.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.10. 10x Genomics had a negative return on equity of 9.33% and a negative net margin of 12.18%.The business had revenue of $151.04 million for the quarter, compared to analysts’ expectations of $146.67 million. During the same period last year, the business earned $0.28 EPS. The business’s revenue was down 12.7% on a year-over-year basis. As a group, sell-side analysts predict that 10x Genomics will post -0.75 EPS for the current fiscal year.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 10,486 shares of 10x Genomics stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $63.69, for a total value of $667,853.34. Following the sale, the chief executive officer owned 1,075,349 shares of the company’s stock, valued at approximately $68,488,977.81. The trade was a 0.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Benjamin J. Hindson sold 13,818 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $63.02, for a total transaction of $870,810.36. Following the completion of the transaction, the insider owned 488,182 shares in the company, valued at approximately $30,765,229.64. The trade was a 2.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 117,945 shares of company stock valued at $6,304,588 in the last three months. 8.84% of the stock is owned by corporate insiders.

Institutional Trading of 10x Genomics

A number of large investors have recently bought and sold shares of TXG. Elevation Wealth Partners LLC raised its stake in shares of 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 buying an additional 1,143 shares during the period. Geneos Wealth Management Inc. bought a new position in shares of 10x Genomics during the 4th quarter worth $38,000. Larson Financial Group LLC increased its holdings in 10x Genomics by 164.4% in the 4th quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock worth $39,000 after acquiring an additional 1,470 shares during the last quarter. Fifth Third Bancorp bought a new stake in 10x Genomics in the 1st quarter valued at about $50,000. Finally, Nykredit A S bought a new stake in 10x Genomics in the 2nd quarter valued at about $126,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

10x Genomics Company Profile

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.