10x Genomics, Inc. (NASDAQ:TXG) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of 10x Genomics, Inc. (NASDAQ:TXG) have been given an average rating of “Moderate Buy” by the twelve research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $48.50.

A number of brokerages have recently weighed in on TXG. Deutsche Bank Aktiengesellschaft reduced their price target on shares of 10x Genomics from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. TD Cowen downgraded 10x Genomics from a “buy” rating to a “hold” rating and cut their target price for the stock from $57.00 to $32.00 in a research report on Wednesday, May 1st. Canaccord Genuity Group decreased their price target on 10x Genomics from $65.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Bank of America dropped their price objective on 10x Genomics from $45.00 to $36.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Finally, Stifel Nicolaus decreased their target price on 10x Genomics from $63.00 to $53.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st.

10x Genomics Price Performance

Shares of TXG stock opened at $22.59 on Monday. The business has a 50 day simple moving average of $30.74 and a 200 day simple moving average of $40.80. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of -10.13 and a beta of 1.94. 10x Genomics has a 12-month low of $22.50 and a 12-month high of $63.57.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.50) EPS for the quarter, meeting analysts’ consensus estimates of ($0.50). The company had revenue of $141.01 million for the quarter, compared to analyst estimates of $142.24 million. 10x Genomics had a negative return on equity of 30.85% and a negative net margin of 42.20%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company earned ($0.44) earnings per share. On average, equities analysts anticipate that 10x Genomics will post -1.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other 10x Genomics news, CEO Serge Saxonov sold 4,877 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total value of $118,511.10. Following the completion of the transaction, the chief executive officer now directly owns 889,641 shares in the company, valued at $21,618,276.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Benjamin J. Hindson sold 4,087 shares of 10x Genomics stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total transaction of $99,314.10. Following the transaction, the insider now owns 350,055 shares in the company, valued at $8,506,336.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Serge Saxonov sold 4,877 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $118,511.10. Following the completion of the sale, the chief executive officer now directly owns 889,641 shares of the company’s stock, valued at $21,618,276.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,560 shares of company stock worth $494,210. Company insiders own 10.03% of the company’s stock.

Hedge Funds Weigh In On 10x Genomics

Large investors have recently made changes to their positions in the business. Swedbank AB purchased a new position in 10x Genomics during the first quarter valued at approximately $675,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of 10x Genomics during the 1st quarter valued at $3,647,000. Bellevue Group AG grew its holdings in shares of 10x Genomics by 5.2% during the 1st quarter. Bellevue Group AG now owns 308,311 shares of the company’s stock valued at $11,571,000 after acquiring an additional 15,138 shares in the last quarter. Bamco Inc. NY increased its stake in shares of 10x Genomics by 59.4% in the first quarter. Bamco Inc. NY now owns 314,862 shares of the company’s stock worth $11,817,000 after acquiring an additional 117,300 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of 10x Genomics by 17.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,657,227 shares of the company’s stock worth $137,257,000 after acquiring an additional 553,053 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.