10x Genomics, Inc. (NASDAQ:TXG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of 10x Genomics, Inc. (NASDAQ:TXG) have been given a consensus recommendation of “Moderate Buy” by the nine research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $60.22.

Several brokerages recently commented on TXG. Barclays cut their price objective on shares of 10x Genomics from $55.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of 10x Genomics from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Finally, Stifel Nicolaus lowered their target price on shares of 10x Genomics from $68.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, February 16th.

Insider Activity at 10x Genomics

In related news, CEO Serge Saxonov sold 1,000 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $49.53, for a total value of $49,530.00. Following the completion of the transaction, the chief executive officer now directly owns 855,381 shares of the company’s stock, valued at $42,367,020.93. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Benjamin J. Hindson sold 2,613 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $46.34, for a total value of $121,086.42. Following the completion of the sale, the insider now directly owns 283,059 shares in the company, valued at $13,116,954.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Serge Saxonov sold 1,000 shares of 10x Genomics stock in a transaction on Friday, February 9th. The stock was sold at an average price of $49.53, for a total value of $49,530.00. Following the sale, the chief executive officer now owns 855,381 shares of the company’s stock, valued at $42,367,020.93. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,959 shares of company stock valued at $592,806. 10.65% of the stock is owned by corporate insiders.

Institutional Trading of 10x Genomics

Several institutional investors and hedge funds have recently made changes to their positions in the company. UMB Bank n.a. grew its stake in shares of 10x Genomics by 51.6% during the fourth quarter. UMB Bank n.a. now owns 782 shares of the company’s stock worth $44,000 after acquiring an additional 266 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of 10x Genomics by 23.4% during the fourth quarter. Van ECK Associates Corp now owns 1,908 shares of the company’s stock worth $107,000 after acquiring an additional 362 shares during the last quarter. AIA Group Ltd grew its stake in shares of 10x Genomics by 0.9% during the fourth quarter. AIA Group Ltd now owns 41,369 shares of the company’s stock worth $2,315,000 after acquiring an additional 365 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of 10x Genomics by 113.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock worth $26,000 after acquiring an additional 371 shares during the last quarter. Finally, Xponance Inc. grew its stake in shares of 10x Genomics by 3.2% during the third quarter. Xponance Inc. now owns 13,060 shares of the company’s stock worth $539,000 after acquiring an additional 400 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

10x Genomics Stock Down 0.2 %

NASDAQ:TXG opened at $27.52 on Thursday. The company has a fifty day moving average of $38.54 and a 200 day moving average of $42.71. 10x Genomics has a 52 week low of $26.75 and a 52 week high of $63.57. The firm has a market capitalization of $3.28 billion, a P/E ratio of -12.68 and a beta of 1.90.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.05). The company had revenue of $183.98 million for the quarter, compared to analysts’ expectations of $182.73 million. 10x Genomics had a negative net margin of 41.17% and a negative return on equity of 28.82%. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.15) earnings per share. As a group, analysts anticipate that 10x Genomics will post -1.47 EPS 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.