10x Genomics (NASDAQ:TXG) Stock Has Average Target Price of $58.60 According to Brokerages

10x Genomics (NASDAQ:TXG) has been given an average rating of “Hold” by the eighteen ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $68.00.

Several equities research analysts have recently weighed in on the company. TD Cowen increased their price objective on 10x Genomics from $47.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, October 13th. Morgan Stanley upped their price objective on shares of 10x Genomics from $40.00 to $70.00 and gave the company an “equal weight” rating in a research report on Monday, October 12th. UBS Group started coverage on shares of 10x Genomics in a research note on Wednesday, September 9th. They issued a “neutral” rating and a $68.00 target price for the company. Canaccord Genuity Group raised their price objective on 10x Genomics from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Finally, Piper Sandler raised their price objective on 10x Genomics from $47.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, September 28th.

Insider Transactions at 10x Genomics

In other news, CFO Adam Taich sold 46,388 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $64.57, for a total transaction of $2,995,273.16. Following the completion of the transaction, the chief financial officer directly owned 316,344 shares of the company’s stock, valued at approximately $20,426,332.08. This trade represents a 12.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shehnaaz Suliman sold 5,723 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $81.19, for a total transaction of $464,650.37. Following the completion of the sale, the director directly owned 23,792 shares in the company, valued at approximately $1,931,672.48. The trade was a 19.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 179,333 shares of company stock valued at $11,810,070 over the last 90 days. Corporate insiders own 8.84% of the company’s stock.

Institutional Trading of 10x Genomics

Several institutional investors have recently bought and sold shares of TXG. Farther Finance Advisors LLC raised its stake in 10x Genomics by 29.9% during the third quarter. Farther Finance Advisors LLC now owns 934 shares of the company’s stock worth $84,000 after acquiring an additional 215 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of 10x Genomics by 8.7% in the 3rd quarter. GAMMA Investing LLC now owns 4,668 shares of the company’s stock valued at $422,000 after purchasing an additional 374 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of 10x Genomics by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 29,223 shares of the company’s stock valued at $1,120,000 after purchasing an additional 430 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of 10x Genomics in the 3rd quarter worth about $68,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of 10x Genomics by 16.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 7,186 shares of the company’s stock worth $153,000 after purchasing an additional 1,012 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

10x Genomics Stock Performance

NASDAQ TXG opened at $69.86 on Monday. 10x Genomics has a 1 year low of $11.81 and a 1 year high of $102.81. The company has a fifty day simple moving average of $71.11 and a 200 day simple moving average of $45.67. The company has a market cap of $9.10 billion, a P/E ratio of -118.40 and a beta of 1.99.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Thursday, August 6th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.10. The firm had revenue of $151.04 million for the quarter, compared to the consensus estimate of $146.67 million. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.33%. The business’s quarterly revenue was down 12.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 EPS. Equities research analysts forecast that 10x Genomics will post -0.75 EPS for the current fiscal year.

10x Genomics Company Profile

10x Genomics, Inc is a life sciences technology company that develops tools for analyzing biological systems at high resolution. Its platforms are used by academic and government research institutions, pharmaceutical and biotechnology companies, and other organizations studying genomics, cell biology, immunology, neuroscience, and disease mechanisms.

The company’s product portfolio includes the Chromium platform for single-cell and other multiomics analyses, the Visium platform for spatial analysis of tissue, and the Xenium platform for high-plex in situ analysis of gene expression.