10x Genomics (NASDAQ:TXG) Research Coverage Started at Argus

Argus began coverage on shares of 10x Genomics (NASDAQ:TXG) in a report published on Monday, Marketbeat reports. The brokerage issued a buy rating and a $110.00 price objective on the stock.

Several other analysts also recently weighed in on the company. Stephens upped their price objective on 10x Genomics from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. 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 report on Wednesday, June 24th. UBS Group initiated coverage on shares of 10x Genomics in a research report on Wednesday, September 9th. They set a “neutral” rating and a $68.00 price objective for the company. Morgan Stanley raised their target price on shares of 10x Genomics from $37.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of 10x Genomics in a research report on Monday, September 21st. Six analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $53.93.

10x Genomics Price Performance

10x Genomics stock opened at $90.36 on Monday. The firm has a market cap of $11.77 billion, a PE ratio of -153.15 and a beta of 2.08. The stock’s fifty day moving average price is $63.37 and its two-hundred day moving average price is $40.53. 10x Genomics has a one year low of $11.16 and a one year high of $95.16.

10x Genomics (NASDAQ:TXG) last released its earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.10. 10x Genomics had a negative return on equity of 9.33% and a negative net margin of 12.18%.The firm had revenue of $151.04 million during the quarter, compared to the consensus estimate of $146.67 million. During the same period in the prior year, the company posted $0.28 EPS. The company’s revenue was down 12.7% compared to the same quarter last year. Sell-side analysts expect that 10x Genomics will post -0.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Shehnaaz Suliman sold 5,723 shares of the firm’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $81.19, for a total value of $464,650.37. Following the completion of the transaction, the director owned 23,792 shares in the company, valued at $1,931,672.48. This trade represents a 19.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Stuelpnagel sold 20,000 shares of 10x Genomics stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $61.75, for a total transaction of $1,235,000.00. Following the sale, the director owned 328,436 shares in the company, valued at approximately $20,280,923. This represents a 5.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 179,333 shares of company stock valued at $11,810,070 over the last three months. Insiders own 8.84% of the company’s stock.

Hedge Funds Weigh In On 10x Genomics

Large investors have recently modified their holdings of the business. Tidal Investments LLC acquired a new position in shares of 10x Genomics during the second quarter worth $1,279,000. Integrated Wealth Concepts LLC increased its holdings in 10x Genomics by 34.9% in the second quarter. Integrated Wealth Concepts LLC now owns 21,645 shares of the company’s stock valued at $830,000 after purchasing an additional 5,595 shares during the period. Squarepoint Ops LLC bought a new position in 10x Genomics during the 2nd quarter worth $2,069,000. Arizona State Retirement System raised its position in 10x Genomics by 1.5% during the 2nd quarter. Arizona State Retirement System now owns 29,223 shares of the company’s stock worth $1,120,000 after purchasing an additional 430 shares during the last quarter. Finally, Nykredit A S acquired a new position in 10x Genomics during the 2nd quarter worth about $126,000. Institutional investors own 84.68% of the company’s stock.

About 10x Genomics

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.