Wolfe Research Reiterates Peer Perform Rating for 10x Genomics (NASDAQ:TXG)

Wolfe Research reiterated their peer perform rating on shares of 10x Genomics (NASDAQ:TXG) in a report issued on Thursday, MarketBeat Ratings reports.

A number of other research analysts also recently weighed in on TXG. TD Cowen downgraded shares of 10x Genomics from a buy rating to a hold rating and cut their price target for the company from $57.00 to $32.00 in a report on Wednesday, May 1st. Jefferies Financial Group assumed coverage on shares of 10x Genomics in a research note on Monday, June 3rd. They issued a hold rating and a $24.00 target price on the stock. UBS Group lowered their target price on shares of 10x Genomics from $52.00 to $30.00 and set a neutral rating on the stock in a research note on Wednesday, May 1st. Stifel Nicolaus lowered their target price on shares of 10x Genomics from $63.00 to $53.00 and set a buy rating on the stock in a research note on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of 10x Genomics from $60.00 to $55.00 and set a buy rating on the stock in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, 10x Genomics has a consensus rating of Hold and a consensus target price of $45.00.

10x Genomics Stock Down 2.0 %

TXG stock opened at $19.45 on Thursday. 10x Genomics has a 12-month low of $18.39 and a 12-month high of $63.57. The company has a market cap of $2.32 billion, a price-to-earnings ratio of -8.72 and a beta of 1.87. The company has a 50 day moving average of $23.62 and a two-hundred day moving average of $36.84.

10x Genomics (NASDAQ:TXG) last released its earnings results on Tuesday, April 30th. The company reported ($0.50) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.50). 10x Genomics had a negative net margin of 42.20% and a negative return on equity of 30.85%. The company had revenue of $141.01 million during the quarter, compared to the consensus estimate of $142.24 million. During the same quarter in the prior year, the firm earned ($0.44) EPS. The company’s revenue was up 5.0% compared to the same quarter last year. On average, research analysts anticipate that 10x Genomics will post -1.53 EPS for the current year.

Insider Activity at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 4,877 shares of the business’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 of the company’s stock, valued at $21,618,276.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Benjamin J. Hindson sold 4,087 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total transaction of $99,314.10. Following the completion of 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 SEC, which can be accessed through the SEC website. Also, CEO Serge Saxonov sold 4,877 shares of 10x Genomics stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total transaction 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 approximately $21,618,276.30. The disclosure for this sale can be found here. Insiders sold 11,900 shares of company stock valued at $289,170 in the last ninety days. Insiders own 10.03% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Citigroup Inc. raised its position in 10x Genomics by 94.4% during the third quarter. Citigroup Inc. now owns 10,951 shares of the company’s stock worth $452,000 after acquiring an additional 5,317 shares in the last quarter. Rhumbline Advisers grew its stake in 10x Genomics by 0.6% during the third quarter. Rhumbline Advisers now owns 121,407 shares of the company’s stock worth $5,008,000 after buying an additional 718 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of 10x Genomics by 2.5% in the third quarter. Northern Trust Corp now owns 472,085 shares of the company’s stock worth $19,474,000 after acquiring an additional 11,599 shares during the last quarter. Trexquant Investment LP lifted its holdings in shares of 10x Genomics by 61.0% in the third quarter. Trexquant Investment LP now owns 101,725 shares of the company’s stock worth $4,196,000 after acquiring an additional 38,538 shares during the last quarter. Finally, Bamco Inc. NY lifted its holdings in shares of 10x Genomics by 554.9% in the third quarter. Bamco Inc. NY now owns 180,926 shares of the company’s stock worth $7,463,000 after acquiring an additional 153,300 shares during the last quarter. 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.