10x Genomics, Inc. (NASDAQ:TXG) Receives $48.50 Average Price Target from Analysts

Shares of 10x Genomics, Inc. (NASDAQ:TXG) have earned a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $48.50.

Several analysts recently commented on TXG shares. Barclays reduced their target price on 10x Genomics from $55.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. UBS Group lowered their target price on 10x Genomics from $52.00 to $30.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Bank of America lowered their target price on 10x Genomics from $45.00 to $36.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Canaccord Genuity Group lowered their target price on 10x Genomics from $65.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Finally, The Goldman Sachs Group lowered their target price on 10x Genomics from $30.00 to $26.00 and set a “sell” rating on the stock in a research report on Wednesday, May 1st.

10x Genomics Stock Up 0.5 %

Shares of TXG opened at $24.07 on Monday. The stock has a market capitalization of $2.87 billion, a P/E ratio of -10.79 and a beta of 1.94. 10x Genomics has a twelve month low of $23.69 and a twelve month high of $63.57. The company has a 50 day moving average of $31.30 and a 200-day moving average of $41.00.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Tuesday, April 30th. The company reported ($0.50) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.50). The company had revenue of $141.01 million during the quarter, compared to analysts’ expectations of $142.24 million. 10x Genomics had a negative net margin of 42.20% and a negative return on equity of 30.85%. 10x Genomics’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.44) earnings per share. On average, sell-side analysts anticipate that 10x Genomics will post -1.55 earnings per share for the current fiscal year.

Insider Activity at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 4,660 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $44.00, for a total transaction of $205,040.00. Following the sale, the chief executive officer now directly owns 842,900 shares in the company, valued at $37,087,600. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 10.03% of the stock is owned by corporate insiders.

Institutional Trading of 10x Genomics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its position in shares of 10x Genomics by 56.4% in the 3rd quarter. FMR LLC now owns 12,666,998 shares of the company’s stock worth $522,514,000 after purchasing an additional 4,565,400 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of 10x Genomics by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,101,536 shares of the company’s stock worth $341,581,000 after purchasing an additional 90,204 shares in the last quarter. ARK Investment Management LLC boosted its position in shares of 10x Genomics by 35.0% in the 4th quarter. ARK Investment Management LLC now owns 4,041,287 shares of the company’s stock worth $226,150,000 after purchasing an additional 1,047,827 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of 10x Genomics by 17.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,657,227 shares of the company’s stock worth $137,257,000 after purchasing an additional 553,053 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in 10x Genomics by 58.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,621,778 shares of the company’s stock valued at $135,925,000 after purchasing an additional 1,338,248 shares during the last quarter. Institutional investors 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.