10x Genomics, Inc. (NASDAQ:TXG) Receives $60.22 Average PT from Analysts

Shares of 10x Genomics, Inc. (NASDAQ:TXG) have been given an average recommendation of “Moderate Buy” by the nine research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $60.22.

TXG has been the subject of several recent analyst reports. Barclays decreased their target price on shares of 10x Genomics from $55.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. Stifel Nicolaus lowered their target price on 10x Genomics from $68.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on 10x Genomics from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th.

Insiders Place Their Bets

In other 10x Genomics news, CEO Serge Saxonov sold 4,660 shares of 10x Genomics stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $44.00, for a total value of $205,040.00. Following the completion of the sale, the chief executive officer now directly owns 842,900 shares in the company, valued at $37,087,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other 10x Genomics news, CEO Serge Saxonov sold 4,660 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $44.00, for a total value of $205,040.00. Following the completion of the sale, the chief executive officer now owns 842,900 shares of the company’s stock, valued at $37,087,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Justin J. Mcanear sold 1,865 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total value of $86,424.10. Following the completion of the transaction, the chief financial officer now directly owns 95,240 shares in the company, valued at $4,413,421.60. The disclosure for this sale can be found here. Insiders have sold a total of 12,959 shares of company stock valued at $592,806 in the last three months. Insiders own 10.65% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

A number of hedge funds have recently bought and sold shares of TXG. FMR LLC boosted its position in shares of 10x Genomics by 56.4% in the third quarter. FMR LLC now owns 12,666,998 shares of the company’s stock valued at $522,514,000 after acquiring an additional 4,565,400 shares during the period. Venrock Management VI LLC bought a new stake in 10x Genomics in the 4th quarter valued at $117,894,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in 10x Genomics by 58.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,621,778 shares of the company’s stock worth $135,925,000 after purchasing an additional 1,338,248 shares during the last quarter. ARK Investment Management LLC increased its holdings in shares of 10x Genomics by 35.0% during the 4th quarter. ARK Investment Management LLC now owns 4,041,287 shares of the company’s stock worth $226,150,000 after purchasing an additional 1,047,827 shares during the period. Finally, SVB Wealth LLC raised its position in shares of 10x Genomics by 92.1% during the fourth quarter. SVB Wealth LLC now owns 1,446,552 shares of the company’s stock valued at $80,949,000 after buying an additional 693,422 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

10x Genomics Stock Performance

NASDAQ TXG opened at $27.59 on Thursday. 10x Genomics has a one year low of $26.30 and a one year high of $63.57. The company has a 50-day simple moving average of $37.70 and a 200-day simple moving average of $42.53. The firm has a market capitalization of $3.29 billion, a PE ratio of -12.71 and a beta of 1.90.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Thursday, February 15th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.05). The company had revenue of $183.98 million during the quarter, compared to the consensus estimate of $182.73 million. 10x Genomics had a negative return on equity of 28.82% and a negative net margin of 41.17%. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period last year, the business posted ($0.15) EPS. Equities analysts forecast that 10x Genomics will post -1.47 earnings per share for the current year.

10x Genomics Company Profile

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