10x Genomics (NASDAQ:TXG) Sets New 52-Week High – Should You Buy?

Shares of 10x Genomics (NASDAQ:TXG) reached a new 52-week high on Tuesday . The company traded as high as $70.46 and last traded at $70.11, with a volume of 3361501 shares trading hands. The stock had previously closed at $68.59.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TXG shares. Stifel Nicolaus set a $50.00 target price on shares of 10x Genomics in a report on Friday, August 7th. Canaccord Genuity Group upped their price target on shares of 10x Genomics from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. UBS Group began coverage on shares of 10x Genomics in a research note on Wednesday, September 9th. They issued a “neutral” rating and a $68.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of 10x Genomics in a research report on Wednesday, June 24th. Finally, TD Cowen restated a “hold” rating on shares of 10x Genomics in a research note on Wednesday, July 15th. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, 10x Genomics presently has an average rating of “Hold” and an average target price of $44.00.

10x Genomics Price Performance

The business has a 50-day moving average of $55.72 and a 200-day moving average of $36.21. The company has a market capitalization of $9.47 billion, a P/E ratio of -123.18 and a beta of 2.08.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.10. The business had revenue of $151.04 million for the quarter, compared to analysts’ expectations of $146.67 million. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.33%. The business’s revenue was down 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 earnings per share. Sell-side analysts predict that 10x Genomics will post -0.75 EPS for the current fiscal year.

Insider Activity at 10x Genomics

In other 10x Genomics news, Director Shehnaaz Suliman sold 2,207 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $63.65, for a total value of $140,475.55. Following the completion of the sale, the director owned 29,515 shares of the company’s stock, valued at $1,878,629.75. This trade represents a 6.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Adam Taich sold 46,388 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $64.57, for a total value of $2,995,273.16. Following the transaction, the chief financial officer owned 316,344 shares of the company’s stock, valued at $20,426,332.08. This trade represents a 12.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 178,610 shares of company stock worth $10,348,120 in the last three months. 8.84% of the stock is owned by insiders.

Institutional Trading of 10x Genomics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Casdin Capital LLC bought a new position in shares of 10x Genomics during the 4th quarter worth approximately $22,834,000. Quantinno Capital Management LP lifted its position in 10x Genomics by 16.0% during the first quarter. Quantinno Capital Management LP now owns 5,411,761 shares of the company’s stock valued at $114,892,000 after acquiring an additional 744,558 shares during the last quarter. Clough Capital Partners L P acquired a new stake in 10x Genomics in the fourth quarter valued at approximately $9,955,000. Dimensional Fund Advisors LP boosted its stake in 10x Genomics by 34.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,042,950 shares of the company’s stock valued at $43,357,000 after acquiring an additional 525,369 shares in the last quarter. Finally, Simplify Asset Management Inc. purchased a new position in 10x Genomics in the fourth quarter worth $7,926,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

10x Genomics Company Profile

10x Genomics, Inc develops life science technology for analyzing biological systems at the single-cell and spatial levels. Its platforms are designed to help researchers study gene expression, genetic variation, cell populations and tissue organization with greater detail than conventional laboratory methods.

The company’s product portfolio includes the Chromium platform for single-cell analysis, Visium solutions for spatial transcriptomics and tissue profiling, and Xenium in situ platforms for high-resolution analysis of RNA and other biological features within tissue samples.