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

Shares of 10x Genomics, Inc. (NASDAQ:TXG) have received a consensus rating of “Moderate Buy” from the seventeen research firms 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, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $29.19.

A number of equities research analysts have issued reports on TXG shares. Barclays cut their price target on shares of 10x Genomics from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Citigroup cut their target price on shares of 10x Genomics from $35.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Jefferies Financial Group raised shares of 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Monday, July 22nd. The Goldman Sachs Group cut their target price on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating on the stock in a research note on Wednesday, October 30th. Finally, Stephens reissued an “overweight” rating and set a $30.00 price objective on shares of 10x Genomics in a research note on Thursday, October 10th.

Insiders Place Their Bets

In related news, CFO Justin J. Mcanear sold 2,961 shares of the company’s stock in a transaction 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 sale, the chief financial officer now owns 143,242 shares of the company’s stock, valued at $3,227,242.26. This represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Benjamin J. Hindson sold 4,351 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $98,028.03. Following the sale, the insider now directly owns 345,704 shares in the company, valued at approximately $7,788,711.12. The trade was a 1.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,061 shares of company stock valued at $316,794. Insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised 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 valued at $341,581,000 after purchasing an additional 90,204 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of 10x Genomics by 604.9% in the second quarter. SG Americas Securities LLC now owns 101,344 shares of the company’s stock valued at $1,971,000 after acquiring an additional 86,967 shares during the period. Lecap Asset Management Ltd. purchased a new stake in shares of 10x Genomics in the third quarter valued at $877,000. Marshall Wace LLP purchased a new stake in shares of 10x Genomics in the second quarter valued at $689,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of 10x Genomics by 10,124.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 44,785 shares of the company’s stock valued at $871,000 after acquiring an additional 44,347 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

10x Genomics Stock Down 5.5 %

Shares of 10x Genomics stock opened at $13.34 on Monday. The firm has a market cap of $1.61 billion, a PE ratio of -8.72 and a beta of 1.87. 10x Genomics has a 12-month low of $13.30 and a 12-month high of $57.90. The company’s fifty day simple moving average is $18.42 and its two-hundred day simple moving average is $20.46.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.04. The business had revenue of $151.65 million for the quarter, compared to analyst estimates of $158.84 million. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. The company’s revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.51) EPS. As a group, sell-side analysts expect that 10x Genomics will post -1.4 earnings per share for the current fiscal year.

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.