10x Genomics (NASDAQ:TXG) Receives $25.92 Consensus Target Price from Analysts

Shares of 10x Genomics (NASDAQ:TXG) have been given a consensus recommendation of “Hold” by the fifteen analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $27.6667.

A number of research firms recently issued reports on TXG. Citigroup increased their target price on 10x Genomics from $24.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday. Barclays lifted their price target on shares of 10x Genomics from $30.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Zacks Research downgraded shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. William Blair raised shares of 10x Genomics from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 31st. Finally, Bank of America upped their target price on shares of 10x Genomics from $21.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, April 20th.

10x Genomics Trading Down 1.0%

TXG stock opened at $37.47 on Friday. The business’s 50-day moving average price is $29.06 and its two-hundred day moving average price is $23.35. The firm has a market cap of $4.76 billion, a PE ratio of -220.41 and a beta of 2.05. 10x Genomics has a 1-year low of $11.16 and a 1-year high of $40.56.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.19. The company had revenue of $150.84 million during the quarter, compared to the consensus estimate of $146.41 million. 10x Genomics had a negative return on equity of 2.86% and a negative net margin of 3.55%.The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.28) earnings per share. On average, analysts forecast that 10x Genomics will post -0.79 earnings per share for the current year.

Insider Transactions at 10x Genomics

In other news, CEO Serge Saxonov sold 30,000 shares of 10x Genomics stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $34.44, for a total value of $1,033,200.00. Following the sale, the chief executive officer directly owned 1,108,380 shares in the company, valued at $38,172,607.20. This trade represents a 2.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Adam Taich sold 15,098 shares of 10x Genomics stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $24.44, for a total transaction of $368,995.12. Following the completion of the sale, the chief financial officer owned 379,898 shares in the company, valued at $9,284,707.12. This trade represents a 3.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 96,309 shares of company stock worth $2,704,157 in the last 90 days. 8.84% of the stock is owned by corporate insiders.

Institutional Trading of 10x Genomics

Institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC grew its stake in 10x Genomics by 241.3% in the second quarter. AQR Capital Management LLC now owns 4,137,801 shares of the company’s stock valued at $47,916,000 after purchasing an additional 2,925,372 shares in the last quarter. Millennium Management LLC raised its stake in shares of 10x Genomics by 84.7% during the 3rd quarter. Millennium Management LLC now owns 5,437,969 shares of the company’s stock worth $63,570,000 after purchasing an additional 2,494,142 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of 10x Genomics by 126.6% during the 3rd quarter. Wellington Management Group LLP now owns 4,285,628 shares of the company’s stock worth $50,099,000 after purchasing an additional 2,394,355 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in shares of 10x Genomics by 207.2% in the 2nd quarter. Quantinno Capital Management LP now owns 2,233,526 shares of the company’s stock valued at $25,864,000 after buying an additional 1,506,530 shares during the last quarter. Finally, Casdin Capital LLC acquired a new stake in shares of 10x Genomics in the 4th quarter valued at approximately $22,834,000. Institutional investors own 84.68% of the company’s stock.

About 10x Genomics

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.