10x Genomics, Inc. (NASDAQ:TXG) Receives Average Recommendation of “Moderate Buy” from Analysts

10x Genomics, Inc. (NASDAQ:TXG) has received an average recommendation of “Moderate Buy” from the sixteen analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $31.60.

A number of analysts have weighed in on TXG shares. UBS Group decreased their price objective on 10x Genomics from $30.00 to $25.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Barclays decreased their price target on 10x Genomics from $36.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, June 28th. The Goldman Sachs Group dropped their price objective on shares of 10x Genomics from $26.00 to $16.00 and set a “sell” rating on the stock in a research note on Tuesday, July 9th. Jefferies Financial Group upgraded shares of 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. lowered shares of 10x Genomics from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $40.00 to $20.00 in a research note on Thursday, July 18th.

Insider Activity at 10x Genomics

In other 10x Genomics news, CFO Justin J. Mcanear sold 2,961 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $66,711.33. Following the completion of the transaction, the chief financial officer now directly owns 143,242 shares in the company, valued at approximately $3,227,242.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Benjamin J. Hindson sold 4,351 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $98,028.03. Following the sale, the insider now directly owns 345,704 shares of the company’s stock, valued at $7,788,711.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Justin J. Mcanear sold 2,961 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $66,711.33. Following the completion of the sale, the chief financial officer now owns 143,242 shares of the company’s stock, valued at $3,227,242.26. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,061 shares of company stock valued at $316,794. Insiders own 10.03% of the company’s stock.

Institutional Trading of 10x Genomics

Institutional investors have recently made changes to their positions in the stock. ARK Investment Management LLC grew its holdings in shares of 10x Genomics by 48.2% during the 2nd quarter. ARK Investment Management LLC now owns 9,313,763 shares of the company’s stock worth $181,153,000 after purchasing an additional 3,029,951 shares during the period. Vanguard Group Inc. grew its stake in 10x Genomics by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,101,536 shares of the company’s stock worth $341,581,000 after buying an additional 90,204 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of 10x Genomics by 69.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,143,067 shares of the company’s stock worth $119,483,000 after acquiring an additional 2,521,289 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of 10x Genomics by 17.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,657,227 shares of the company’s stock valued at $137,257,000 after acquiring an additional 553,053 shares during the period. Finally, Nikko Asset Management Americas Inc. lifted its holdings in shares of 10x Genomics by 58.6% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock valued at $135,780,000 after acquiring an additional 1,338,248 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

10x Genomics Price Performance

Shares of 10x Genomics stock opened at $22.67 on Friday. The firm’s fifty day simple moving average is $21.43 and its 200-day simple moving average is $24.59. 10x Genomics has a 12 month low of $15.28 and a 12 month high of $57.90. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of -10.17 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.15. 10x Genomics had a negative net margin of 37.90% and a negative return on equity of 28.23%. The business had revenue of $153.10 million during the quarter, compared to analysts’ expectations of $150.90 million. Analysts anticipate that 10x Genomics will post -1.32 earnings per share for the current year.

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.