10x Genomics’ (TXG) “Peer Perform” Rating Reaffirmed at Wolfe Research

Wolfe Research restated their peer perform rating on shares of 10x Genomics (NASDAQ:TXG) in a research note released on Thursday, Marketbeat.com reports.

A number of other equities analysts have also recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of 10x Genomics in a report on Monday, June 3rd. They issued a hold rating and a $24.00 target price on the stock. UBS Group decreased their price objective on 10x Genomics from $52.00 to $30.00 and set a neutral rating for the company in a report on Wednesday, May 1st. The Goldman Sachs Group lowered their price target on 10x Genomics from $30.00 to $26.00 and set a sell rating on the stock in a report on Wednesday, May 1st. Barclays decreased their price objective on shares of 10x Genomics from $55.00 to $45.00 and set an overweight rating for the company in a report on Wednesday, April 10th. Finally, Bank of America cut their price objective on 10x Genomics from $45.00 to $36.00 and set a neutral rating for the company in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $46.62.

10x Genomics Stock Performance

Shares of 10x Genomics stock opened at $19.85 on Thursday. 10x Genomics has a 1-year low of $18.39 and a 1-year high of $63.57. The business has a 50-day moving average of $23.79 and a 200-day moving average of $37.23.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Tuesday, April 30th. The company reported ($0.50) earnings per share for the quarter, hitting the consensus estimate of ($0.50). The company had revenue of $141.01 million during the quarter, compared to analyst estimates of $142.24 million. 10x Genomics had a negative net margin of 42.20% and a negative return on equity of 30.85%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the business earned ($0.44) EPS. As a group, analysts predict that 10x Genomics will post -1.53 EPS for the current fiscal year.

Insider Activity

In related news, CEO Serge Saxonov sold 4,877 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total value of $118,511.10. Following the sale, the chief executive officer now directly owns 889,641 shares of the company’s stock, valued at approximately $21,618,276.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Benjamin J. Hindson sold 4,087 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total transaction of $99,314.10. Following the completion of the sale, the insider now owns 350,055 shares in the company, valued at approximately $8,506,336.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Serge Saxonov sold 4,877 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $118,511.10. Following the sale, the chief executive officer now owns 889,641 shares of the company’s stock, valued at approximately $21,618,276.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,900 shares of company stock valued at $289,170. 10.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. UMB Bank n.a. grew its holdings in shares of 10x Genomics by 51.6% during the 4th quarter. UMB Bank n.a. now owns 782 shares of the company’s stock worth $44,000 after purchasing an additional 266 shares in the last quarter. Van ECK Associates Corp increased 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 purchasing an additional 362 shares in the last quarter. AIA Group Ltd boosted its position in 10x Genomics by 0.9% in the fourth quarter. AIA Group Ltd now owns 41,369 shares of the company’s stock valued at $2,315,000 after buying an additional 365 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in 10x Genomics by 113.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock valued at $26,000 after buying an additional 371 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in shares of 10x Genomics by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 40,717 shares of the company’s stock worth $2,279,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

About 10x Genomics

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.