10x Genomics (NASDAQ:TXG) Given Consensus Rating of “Hold” by Brokerages

Shares of 10x Genomics (NASDAQ:TXG) have earned a consensus recommendation of “Hold” from the seventeen analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $44.00.

A number of research analysts have weighed in on TXG shares. Stephens increased their target price on 10x Genomics from $50.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Stifel Nicolaus set a $50.00 price objective on 10x Genomics in a research note on Friday, August 7th. Citigroup upped their target price on shares of 10x Genomics from $45.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Piper Sandler boosted their price objective on shares of 10x Genomics from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 10x Genomics in a research report on Monday.

10x Genomics Trading Down 6.3%

Shares of 10x Genomics stock opened at $75.62 on Thursday. The business has a fifty day simple moving average of $59.11 and a two-hundred day simple moving average of $38.16. 10x Genomics has a 12 month low of $11.16 and a 12 month high of $82.68. The firm has a market capitalization of $9.85 billion, a P/E ratio of -128.17 and a beta of 2.08.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.10. The firm had revenue of $151.04 million during the quarter, compared to the consensus estimate of $146.67 million. 10x Genomics had a negative return on equity of 9.33% and a negative net margin of 12.18%.The company’s revenue was down 12.7% on a year-over-year basis. During the same period last year, the company earned $0.28 earnings per share. Analysts predict that 10x Genomics will post -0.75 earnings per share for the current year.

Insider Activity at 10x Genomics

In other 10x Genomics news, insider Benjamin Hindson sold 13,818 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $63.02, for a total value of $870,810.36. Following the completion of the sale, the insider directly owned 488,182 shares in the company, valued at approximately $30,765,229.64. This represents a 2.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Serge Saxonov sold 18,545 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $63.02, for a total transaction of $1,168,705.90. Following the completion of the sale, the chief executive officer directly owned 1,085,835 shares of the company’s stock, valued at approximately $68,429,321.70. This trade represents a 1.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 148,610 shares of company stock worth $9,314,920 over the last three months. Corporate insiders own 8.84% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Sei Investments Co. increased its position in 10x Genomics by 113.5% during the 1st quarter. Sei Investments Co. now owns 44,679 shares of the company’s stock valued at $949,000 after buying an additional 23,748 shares in the last quarter. Hsbc Holdings PLC acquired a new position in shares of 10x Genomics in the first quarter valued at about $5,945,000. Simplify Asset Management Inc. purchased a new position in shares of 10x Genomics in the fourth quarter worth about $7,926,000. Clough Capital Partners L P purchased a new stake in shares of 10x Genomics in the 4th quarter valued at $9,955,000. Finally, Squarepoint Ops LLC purchased a new position in shares of 10x Genomics during the 2nd quarter valued at about $2,069,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

About 10x Genomics

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.