Brokerages Set 10x Genomics (NASDAQ:TXG) Price Target at $16.83

Shares of 10x Genomics (NASDAQ:TXG) have received an average recommendation of “Hold” from the sixteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $16.8333.

Several analysts have recently issued reports on the stock. Leerink Partners reduced their price target on shares of 10x Genomics from $22.00 to $20.00 and set a “market perform” rating on the stock in a research report on Tuesday, January 27th. Piper Sandler increased their target price on shares of 10x Genomics from $15.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Weiss Ratings restated a “sell (e+)” rating on shares of 10x Genomics in a research note on Monday, December 22nd. Wall Street Zen lowered 10x Genomics from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Citigroup cut 10x Genomics from a “buy” rating to a “cautious” rating in a research note on Thursday, December 11th.

Insider Activity

In other 10x Genomics news, CFO Adam Taich sold 11,888 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $19.00, for a total value of $225,872.00. Following the sale, the chief financial officer directly owned 297,385 shares in the company, valued at $5,650,315. This trade represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Serge Saxonov sold 13,261 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $19.00, for a total value of $251,959.00. Following the transaction, the chief executive officer directly owned 1,021,556 shares of the company’s stock, valued at approximately $19,409,564. This represents a 1.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 33,432 shares of company stock worth $635,208. 10.03% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TXG. Foundations Investment Advisors LLC purchased a new position in shares of 10x Genomics during the third quarter valued at approximately $665,000. Jump Financial LLC boosted its stake in 10x Genomics by 130.2% in the 2nd quarter. Jump Financial LLC now owns 1,041,051 shares of the company’s stock worth $12,055,000 after buying an additional 588,769 shares during the last quarter. AlphaQuest LLC grew its holdings in 10x Genomics by 234.3% in the 3rd quarter. AlphaQuest LLC now owns 133,419 shares of the company’s stock valued at $1,560,000 after buying an additional 93,514 shares during the period. Friedenthal Financial acquired a new position in shares of 10x Genomics during the 3rd quarter valued at about $924,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of 10x Genomics during the 3rd quarter worth about $1,179,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

10x Genomics Stock Up 3.3%

Shares of NASDAQ TXG opened at $19.15 on Wednesday. The business’s 50 day moving average is $18.65 and its two-hundred day moving average is $15.53. 10x Genomics has a 52-week low of $6.78 and a 52-week high of $23.56. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of -30.89 and a beta of 2.24.

About 10x Genomics

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.