Brokerages Set 10x Genomics, Inc. (NASDAQ:TXG) PT at $20.21

Shares of 10x Genomics, Inc. (NASDAQ:TXG) have received an average recommendation of “Hold” from the seventeen brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $20.21.

A number of equities research analysts have recently issued reports on TXG shares. Weiss Ratings reissued a “sell (e+)” rating on shares of 10x Genomics in a research note on Friday, March 7th. Canaccord Genuity Group cut their target price on 10x Genomics from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Leerink Partners cut 10x Genomics from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $25.00 to $12.00 in a research note on Thursday, February 13th. JPMorgan Chase & Co. dropped their price objective on 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, Barclays decreased their target price on 10x Genomics from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th.

10x Genomics Stock Down 3.3 %

Shares of TXG opened at $9.95 on Friday. The firm’s fifty day moving average is $12.79 and its two-hundred day moving average is $15.67. The stock has a market cap of $1.22 billion, a PE ratio of -6.55 and a beta of 1.93. 10x Genomics has a 52-week low of $9.27 and a 52-week high of $39.30.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.08). 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. As a group, research analysts anticipate that 10x Genomics will post -1.43 earnings per share for the current year.

Insider Buying and Selling at 10x Genomics

In other news, Director Alan Mateo purchased 40,000 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were acquired at an average cost of $11.14 per share, for a total transaction of $445,600.00. Following the completion of the purchase, the director now directly owns 61,691 shares in the company, valued at $687,237.74. The trade was a 184.41 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benjamin J. Hindson sold 4,573 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $11.07, for a total transaction of $50,623.11. Following the transaction, the insider now directly owns 335,324 shares of the company’s stock, valued at $3,712,036.68. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.03% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On 10x Genomics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC increased its stake in 10x Genomics by 19.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 28,497 shares of the company’s stock valued at $409,000 after purchasing an additional 4,545 shares in the last quarter. Mackenzie Financial Corp grew its holdings in 10x Genomics by 69.1% in the fourth quarter. Mackenzie Financial Corp now owns 53,390 shares of the company’s stock valued at $767,000 after purchasing an additional 21,817 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of 10x Genomics in the fourth quarter valued at $32,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of 10x Genomics by 10.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,116,573 shares of the company’s stock worth $30,394,000 after buying an additional 193,588 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its position in shares of 10x Genomics by 12.1% in the 4th quarter. Voloridge Investment Management LLC now owns 1,585,965 shares of the company’s stock worth $22,774,000 after buying an additional 171,161 shares in 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.