10x Genomics, Inc. (NASDAQ:TXG) Receives $30.60 Consensus Target Price from Analysts

Shares of 10x Genomics, Inc. (NASDAQ:TXG) have earned an average recommendation of “Moderate Buy” from the sixteen research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $30.60.

A number of research analysts have recently weighed in on the stock. Morgan Stanley cut their price target 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. cut 10x Genomics from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $40.00 to $20.00 in a research report on Thursday, July 18th. The Goldman Sachs Group lowered their price objective on 10x Genomics from $26.00 to $16.00 and set a “sell” rating on the stock in a report on Tuesday, July 9th. Leerink Partners assumed coverage on 10x Genomics in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price objective on the stock. Finally, Bank of America decreased their target price on 10x Genomics from $36.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, July 18th.

10x Genomics Price Performance

NASDAQ:TXG opened at $15.44 on Thursday. The stock has a market cap of $1.84 billion, a PE ratio of -6.92 and a beta of 1.85. 10x Genomics has a fifty-two week low of $14.02 and a fifty-two week high of $57.90. The stock’s 50-day moving average is $21.09 and its two-hundred day moving average is $22.63.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (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 company had revenue of $153.10 million during the quarter, compared to analyst estimates of $150.90 million. On average, equities research analysts anticipate that 10x Genomics will post -1.35 earnings per share for the current year.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 6,749 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 transaction of $152,054.97. Following the sale, the chief executive officer now directly owns 882,467 shares of the company’s stock, valued at approximately $19,881,981.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Serge Saxonov sold 6,749 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $152,054.97. Following the sale, the chief executive officer now owns 882,467 shares in the company, valued at approximately $19,881,981.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Justin J. Mcanear sold 2,961 shares of 10x Genomics 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 directly owns 143,242 shares of the company’s stock, valued at $3,227,242.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,061 shares of company stock valued at $316,794. 10.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On 10x Genomics

Institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its stake in shares of 10x Genomics by 0.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 372,873 shares of the company’s stock worth $20,866,000 after buying an additional 1,815 shares during the last quarter. Vanguard Group Inc. raised its position in shares of 10x Genomics by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 9,011,332 shares of the company’s stock valued at $504,274,000 after acquiring an additional 107,815 shares during the last quarter. Mirador Capital Partners LP lifted its stake in shares of 10x Genomics by 3.4% in the 1st 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 period. Allspring Global Investments Holdings LLC boosted its position 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 purchasing an additional 371 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of 10x Genomics by 58.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,621,778 shares of the company’s stock worth $135,925,000 after purchasing an additional 1,338,248 shares during the period. Institutional investors own 84.68% of the company’s stock.

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.