10x Genomics, Inc. (NASDAQ:TXG) Given Average Rating of “Moderate Buy” by Analysts

Shares of 10x Genomics, Inc. (NASDAQ:TXG) have earned a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $30.60.

TXG has been the subject of several research reports. Guggenheim restated a “neutral” rating on shares of 10x Genomics in a research report on Tuesday, June 25th. Canaccord Genuity Group dropped their price target on shares of 10x Genomics from $32.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Stifel Nicolaus dropped their price target on shares of 10x Genomics from $53.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, July 16th. The Goldman Sachs Group dropped their price target on shares of 10x Genomics from $26.00 to $16.00 and set a “sell” rating for the company in a research report on Tuesday, July 9th. Finally, UBS Group dropped their price target on shares of 10x Genomics from $30.00 to $25.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th.

Insider Buying and Selling

In related news, CFO Justin J. Mcanear sold 2,961 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $66,711.33. Following the sale, the chief financial officer now owns 143,242 shares of the company’s stock, valued at $3,227,242.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Benjamin J. Hindson sold 4,351 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $98,028.03. Following the transaction, the insider now owns 345,704 shares in the company, valued at $7,788,711.12. The trade was a 0.00 % 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, CFO Justin J. Mcanear sold 2,961 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $66,711.33. Following the completion of the transaction, the chief financial officer now owns 143,242 shares in the company, valued at approximately $3,227,242.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,061 shares of company stock valued at $316,794 over the last 90 days. 10.03% of the stock is owned by insiders.

Hedge Funds Weigh In On 10x Genomics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in shares of 10x Genomics by 82.6% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 20,232 shares of the company’s stock valued at $457,000 after purchasing an additional 9,151 shares during the period. Creative Planning acquired a new position in shares of 10x Genomics during the third quarter valued at about $214,000. VitalStone Financial LLC raised its holdings in shares of 10x Genomics by 43,183.3% during the third quarter. VitalStone Financial LLC now owns 15,582 shares of the company’s stock valued at $352,000 after purchasing an additional 15,546 shares during the period. Sound Income Strategies LLC acquired a new position in shares of 10x Genomics during the third quarter valued at about $46,000. Finally, CWM LLC raised its holdings in shares of 10x Genomics by 444.5% during the third quarter. CWM LLC now owns 22,810 shares of the company’s stock valued at $515,000 after purchasing an additional 18,621 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

10x Genomics Stock Performance

10x Genomics stock opened at $15.74 on Thursday. 10x Genomics has a 52 week low of $14.02 and a 52 week high of $57.90. The stock has a market capitalization of $1.90 billion, a P/E ratio of -7.79 and a beta of 1.85. The stock has a 50-day simple moving average of $21.28 and a 200 day simple moving average of $22.93.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.15. The firm had revenue of $153.10 million during the quarter, compared to the consensus estimate of $150.90 million. 10x Genomics had a negative net margin of 37.90% and a negative return on equity of 28.23%. Research analysts forecast that 10x Genomics will post -1.35 earnings per share for the current year.

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.