Stephens Reiterates Overweight Rating for 10x Genomics (NASDAQ:TXG)

10x Genomics (NASDAQ:TXG)‘s stock had its “overweight” rating reaffirmed by stock analysts at Stephens in a research note issued on Thursday, Benzinga reports. They currently have a $30.00 price target on the stock. Stephens’ price target would suggest a potential upside of 92.68% from the stock’s current price.

Several other research firms have also weighed in on TXG. Morgan Stanley reduced their target price on shares of 10x Genomics from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. JPMorgan Chase & Co. lowered shares of 10x Genomics from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $40.00 to $20.00 in a report on Thursday, July 18th. Canaccord Genuity Group reduced their target price on shares of 10x Genomics from $32.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday. Wolfe Research reiterated a “peer perform” rating on shares of 10x Genomics in a report on Thursday, June 27th. Finally, UBS Group cut their price objective on shares of 10x Genomics from $30.00 to $25.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.80.

10x Genomics Price Performance

TXG stock traded down $5.24 during midday trading on Thursday, hitting $15.57. The stock had a trading volume of 9,392,494 shares, compared to its average volume of 1,653,657. The firm has a market cap of $1.88 billion, a PE ratio of -6.98 and a beta of 1.85. 10x Genomics has a 12-month low of $14.02 and a 12-month high of $57.90. The company’s 50-day moving average price is $21.57 and its 200 day moving average price is $23.66.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $153.10 million during the quarter, compared to analysts’ expectations of $150.90 million. As a group, sell-side analysts anticipate that 10x Genomics will post -1.32 EPS for the current year.

Insider Transactions at 10x Genomics

In related news, CFO Justin J. Mcanear sold 2,961 shares of the business’s stock in a transaction dated 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 10x Genomics news, CFO Justin J. Mcanear sold 2,961 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were 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 owns 143,242 shares in the company, valued at approximately $3,227,242.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Benjamin J. Hindson sold 4,351 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $98,028.03. Following the completion of the transaction, the insider now owns 345,704 shares of the company’s stock, valued at approximately $7,788,711.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders 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

A number of institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its stake in shares of 10x Genomics by 113.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock worth $26,000 after acquiring an additional 371 shares during the period. First Horizon Advisors Inc. lifted its stake in 10x Genomics by 74.1% during the second quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock valued at $37,000 after purchasing an additional 808 shares during the last quarter. Covestor Ltd lifted its stake in 10x Genomics by 501.7% during the first quarter. Covestor Ltd now owns 1,047 shares of the company’s stock valued at $39,000 after purchasing an additional 873 shares during the last quarter. Mirador Capital Partners LP lifted its stake in 10x Genomics by 3.4% during the first quarter. Mirador Capital Partners LP now owns 28,825 shares of the company’s stock valued at $1,082,000 after purchasing an additional 940 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in 10x Genomics by 451.8% during the third quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock valued at $35,000 after purchasing an additional 1,265 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

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.