10x Genomics (NASDAQ:TXG) Given Average Rating of “Hold” by Analysts

10x Genomics (NASDAQ:TXG) has earned a consensus rating of “Hold” from the seventeen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $18.4643.

Several equities research analysts recently commented on the company. TD Cowen boosted their target price on 10x Genomics from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Friday, February 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 10x Genomics in a research note on Friday, March 27th. William Blair upgraded 10x Genomics from a “market perform” rating to an “outperform” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft set a $17.00 price objective on 10x Genomics and gave the stock a “hold” rating in a research note on Friday, February 13th. Finally, Barclays raised their target price on 10x Genomics from $17.00 to $22.00 and gave the company an “overweight” rating in a research note on Monday, December 15th.

10x Genomics Trading Up 3.9%

10x Genomics stock opened at $22.05 on Thursday. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of -63.00 and a beta of 2.17. The company’s 50-day moving average price is $19.96 and its two-hundred day moving average price is $17.12. 10x Genomics has a 52 week low of $6.78 and a 52 week high of $23.56.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Thursday, February 12th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The company had revenue of $166.03 million during the quarter, compared to analyst estimates of $160.35 million. 10x Genomics had a negative net margin of 6.77% and a negative return on equity of 6.89%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.40) EPS. Research analysts expect that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Insider Buying and Selling at 10x Genomics

In other news, insider Benjamin J. Hindson sold 7,826 shares of 10x Genomics stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $18.58, for a total value of $145,407.08. Following the transaction, the insider owned 424,779 shares of the company’s stock, valued at $7,892,393.82. The trade was a 1.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Serge Saxonov sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $19.52, for a total transaction of $97,600.00. Following the completion of the sale, the chief executive officer owned 1,172,273 shares in the company, valued at $22,882,768.96. The trade was a 0.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 41,426 shares of company stock valued at $779,895. 9.39% of the stock is owned by insiders.

Institutional Trading of 10x Genomics

A number of large investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC grew its position in 10x Genomics by 1.4% in the fourth quarter. Intech Investment Management LLC now owns 40,047 shares of the company’s stock worth $653,000 after buying an additional 567 shares during the last quarter. Arizona State Retirement System lifted its position in shares of 10x Genomics by 3.0% during the 3rd quarter. Arizona State Retirement System now owns 29,586 shares of the company’s stock valued at $346,000 after acquiring an additional 872 shares during the last quarter. Certuity LLC boosted its stake in shares of 10x Genomics by 4.7% during the 4th quarter. Certuity LLC now owns 20,204 shares of the company’s stock worth $330,000 after acquiring an additional 904 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of 10x Genomics by 3.3% in the 3rd quarter. Versant Capital Management Inc now owns 29,364 shares of the company’s stock worth $343,000 after acquiring an additional 945 shares during the last quarter. Finally, True Wealth Design LLC grew its holdings in shares of 10x Genomics by 26.4% in the 3rd quarter. True Wealth Design LLC now owns 4,534 shares of the company’s stock worth $53,000 after acquiring an additional 948 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

10x Genomics Company Profile

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.