Analysts Set 10x Genomics, Inc. (NASDAQ:TXG) Target Price at $36.29

10x Genomics, Inc. (NASDAQ:TXG) has been given an average rating of “Hold” by the twelve research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $30.67.

Several research analysts recently issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of 10x Genomics from $26.00 to $16.00 and set a “sell” rating for the company in a research note on Tuesday, July 9th. TD Cowen lowered shares of 10x Genomics from a “buy” rating to a “hold” rating and lowered their target price for the company from $57.00 to $32.00 in a report on Wednesday, May 1st. Guggenheim restated a “neutral” rating on shares of 10x Genomics in a research note on Tuesday, June 25th. Bank of America lowered their price objective on 10x Genomics from $36.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, July 18th. Finally, Jefferies Financial Group raised 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.

10x Genomics Stock Up 4.5 %

Shares of NASDAQ:TXG traded up $0.88 during midday trading on Friday, hitting $20.43. 3,271,636 shares of the stock traded hands, compared to its average volume of 1,667,865. The business’s 50 day moving average is $19.51 and its two-hundred day moving average is $30.22. The stock has a market capitalization of $2.43 billion, a PE ratio of -9.16 and a beta of 1.84. 10x Genomics has a one year low of $15.28 and a one year high of $57.90.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.15. The company had revenue of $153.10 million during the quarter, compared to analyst estimates of $150.90 million. 10x Genomics had a negative return on equity of 30.85% and a negative net margin of 42.20%. As a group, sell-side analysts forecast that 10x Genomics will post -1.53 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Benjamin J. Hindson sold 4,087 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total transaction of $99,314.10. Following the sale, the insider now directly owns 350,055 shares in the company, valued at approximately $8,506,336.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Benjamin J. Hindson sold 4,087 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total transaction of $99,314.10. Following the transaction, the insider now directly owns 350,055 shares in the company, valued at approximately $8,506,336.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Serge Saxonov sold 4,877 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $118,511.10. Following 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. Over the last 90 days, insiders have sold 11,900 shares of company stock worth $289,170. Insiders own 10.03% of the company’s stock.

Institutional Trading of 10x Genomics

Several institutional investors and hedge funds have recently modified their holdings of TXG. SVB Wealth LLC raised its holdings in shares of 10x Genomics by 92.1% in the fourth quarter. SVB Wealth LLC now owns 1,446,552 shares of the company’s stock valued at $80,949,000 after acquiring an additional 693,422 shares in the last quarter. Venrock Management VI LLC purchased a new stake in shares of 10x Genomics in the 4th quarter worth approximately $117,894,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of 10x Genomics by 32.9% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,283,530 shares of the company’s stock valued at $127,786,000 after purchasing an additional 565,059 shares in the last quarter. Bleakley Financial Group LLC purchased a new position in 10x Genomics during the fourth quarter valued at approximately $234,000. Finally, Vanguard Group Inc. raised its stake in 10x Genomics by 1.0% in the first quarter. Vanguard Group Inc. now owns 9,101,536 shares of the company’s stock worth $341,581,000 after buying an additional 90,204 shares in 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.