10x Genomics, Inc. (NASDAQ:TXG) Receives Average Recommendation of “Hold” from Analysts

10x Genomics, Inc. (NASDAQ:TXG – Get Rating) has received a consensus recommendation of “Hold” from the eleven research firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $51.00.

Several research firms have recently issued reports on TXG. Morgan Stanley reduced their price objective on shares of 10x Genomics from $70.00 to $64.00 and set an “overweight” rating on the stock in a research report on Friday, November 4th. The Goldman Sachs Group dropped their price target on shares of 10x Genomics from $35.00 to $25.00 and set a “sell” rating for the company in a research note on Thursday, October 13th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of 10x Genomics in a research report on Tuesday, December 13th. They set a “buy” rating and a $50.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their price objective on shares of 10x Genomics from $65.00 to $55.00 in a report on Thursday, November 3rd.

Insider Transactions at 10x Genomics

In other news, insider Benjamin J. Hindson sold 2,361 shares of the company’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $34.07, for a total value of $80,439.27. Following the transaction, the insider now owns 217,713 shares of the company’s stock, valued at approximately $7,417,481.91. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other 10x Genomics news, insider Benjamin J. Hindson sold 2,361 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $34.07, for a total transaction of $80,439.27. Following the sale, the insider now directly owns 217,713 shares in the company, valued at approximately $7,417,481.91. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Serge Saxonov sold 2,676 shares of the business’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $34.07, for a total transaction of $91,171.32. Following the completion of the transaction, the chief executive officer now owns 974,926 shares of the company’s stock, valued at approximately $33,215,728.82. The disclosure for this sale can be found here. Insiders have sold a total of 6,663 shares of company stock worth $227,008 in the last quarter. Company insiders own 11.08% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Several large investors have recently modified their holdings of TXG. BlackRock Inc. grew its holdings in shares of 10x Genomics by 14.2% during the first quarter. BlackRock Inc. now owns 9,156,992 shares of the company’s stock worth $696,572,000 after buying an additional 1,138,358 shares during the last quarter. Baillie Gifford & Co. grew its holdings in 10x Genomics by 0.8% in the third quarter. Baillie Gifford & Co. now owns 8,443,388 shares of the company’s stock valued at $240,467,000 after purchasing an additional 64,417 shares during the last quarter. Vanguard Group Inc. increased its holdings in 10x Genomics by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 8,274,359 shares of the company’s stock valued at $235,654,000 after acquiring an additional 446,601 shares in the last quarter. FMR LLC raised its position in shares of 10x Genomics by 50.2% during the 2nd quarter. FMR LLC now owns 6,195,527 shares of the company’s stock worth $280,347,000 after purchasing an additional 2,070,318 shares during the last quarter. Finally, ARK Investment Management LLC raised its holdings in shares of 10x Genomics by 27.0% in the third quarter. ARK Investment Management LLC now owns 4,576,814 shares of the company’s stock worth $130,348,000 after acquiring an additional 973,528 shares during the last quarter. 74.34% of the stock is owned by institutional investors and hedge funds.

10x Genomics Stock Performance

NASDAQ TXG opened at $37.57 on Friday. The stock has a 50-day moving average of $35.07 and a 200 day moving average of $36.08. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of -25.39 and a beta of 1.68. 10x Genomics has a one year low of $23.81 and a one year high of $135.66.

10x Genomics (NASDAQ:TXG – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.08. 10x Genomics had a negative return on equity of 21.01% and a negative net margin of 33.20%. The business had revenue of $131.10 million during the quarter, compared to the consensus estimate of $129.13 million. During the same period in the previous year, the company posted ($0.15) EPS. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, equities analysts predict that 10x Genomics will post -1.6 earnings per share for the current fiscal year.

10x Genomics Company Profile

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10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in North America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium and chromium connect instruments, microfluidic chips, slides, reagents, and other consumables products.