10x Genomics (NASDAQ:TXG) Upgraded by Leerink Partnrs to Strong-Buy

10x Genomics (NASDAQ:TXG) was upgraded by equities researchers at Leerink Partnrs to a “strong-buy” rating in a research note issued on Tuesday, Zacks.com reports.

Several other equities analysts also recently weighed in on TXG. Wolfe Research reaffirmed a “peer perform” rating on shares of 10x Genomics in a report on Thursday, June 27th. Guggenheim reiterated a “neutral” rating on shares of 10x Genomics in a research note on Tuesday, June 25th. The Goldman Sachs Group decreased their price target on shares of 10x Genomics from $26.00 to $16.00 and set a “sell” rating on the stock in a research note on Tuesday, July 9th. Canaccord Genuity Group decreased their price objective on 10x Genomics from $50.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, July 23rd. Finally, Morgan Stanley lowered their target price on shares of 10x Genomics from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $31.60.

10x Genomics Price Performance

NASDAQ TXG opened at $22.87 on Tuesday. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of -10.26 and a beta of 1.85. 10x Genomics has a 1-year low of $15.28 and a 1-year high of $57.90. The business’s fifty day moving average price is $20.08 and its 200-day moving average price is $27.23.

10x Genomics (NASDAQ:TXG) last released its quarterly 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 return on equity of 28.23% and a negative net margin of 37.90%. The business had revenue of $153.10 million during the quarter, compared to the consensus estimate of $150.90 million. Equities research analysts anticipate that 10x Genomics will post -1.37 EPS for the current year.

Insiders Place Their Bets

In related news, insider Benjamin J. Hindson sold 4,351 shares of the firm’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 $98,028.03. Following the completion of the sale, the insider now directly owns 345,704 shares in the company, valued at $7,788,711.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Benjamin J. Hindson sold 4,351 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $98,028.03. Following the sale, the insider now owns 345,704 shares in the company, valued at approximately $7,788,711.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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. The disclosure for this sale can be found here. Insiders have sold 14,061 shares of company stock valued at $316,794 in the last ninety days. 10.03% of the stock is currently owned by corporate insiders.

Institutional Trading of 10x Genomics

Large investors have recently made changes to their positions in the company. Van ECK Associates Corp raised its position in 10x Genomics by 23.4% during the 4th quarter. Van ECK Associates Corp now owns 1,908 shares of the company’s stock worth $107,000 after buying an additional 362 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of 10x Genomics by 113.5% during 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 in the last quarter. Treasurer of the State of North Carolina lifted its position in shares of 10x Genomics by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 40,717 shares of the company’s stock valued at $2,279,000 after acquiring an additional 400 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of 10x Genomics by 74.1% during the second quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock worth $37,000 after buying an additional 808 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in shares of 10x Genomics by 501.7% during the first quarter. Covestor Ltd now owns 1,047 shares of the company’s stock worth $39,000 after purchasing an additional 873 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

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.