10x Genomics (NASDAQ:TXG) Price Target Raised to $13.00 at Bank of America

by · The Cerbat Gem

10x Genomics (NASDAQ:TXG – Free Report) had its price target boosted by Bank of America from $12.00 to $13.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Other analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a report on Wednesday, June 11th. Citigroup decreased their price objective on shares of 10x Genomics from $20.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Morgan Stanley reduced their price target on shares of 10x Genomics from $26.00 to $18.00 and set an “overweight” rating for the company in a report on Monday, May 19th. The Goldman Sachs Group reduced their price target on shares of 10x Genomics from $7.50 to $6.50 and set a “sell” rating for the company in a report on Monday, May 12th. Finally, UBS Group reduced their price target on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $14.96.

View Our Latest Stock Analysis on TXG

10x Genomics Stock Up 0.3%

TXG stock opened at $11.73 on Thursday. The company has a 50 day moving average of $9.37 and a two-hundred day moving average of $11.19. 10x Genomics has a 12-month low of $6.78 and a 12-month high of $24.76. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -9.02 and a beta of 1.99.

10x Genomics (NASDAQ:TXG – Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.09. 10x Genomics had a negative net margin of 25.14% and a negative return on equity of 23.22%. The company had revenue of $154.88 million for the quarter, compared to analyst estimates of $131.91 million. During the same quarter in the prior year, the business posted ($0.50) EPS. 10x Genomics’s quarterly revenue was down 2.3% on a year-over-year basis. On average, research analysts anticipate that 10x Genomics will post -1.43 EPS for the current year.

Insider Buying and Selling

In other 10x Genomics news, CEO Serge Saxonov sold 9,343 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total value of $77,546.90. Following the completion of the sale, the chief executive officer now owns 1,083,625 shares in the company, valued at approximately $8,994,087.50. This trade represents a 0.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Benjamin J. Hindson sold 7,485 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total transaction of $62,125.50. Following the completion of the sale, the insider now owns 448,374 shares of the company’s stock, valued at $3,721,504.20. The trade was a 1.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,872 shares of company stock worth $173,238 in the last quarter. 9.39% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On 10x Genomics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Atria Wealth Solutions Inc. boosted its stake in shares of 10x Genomics by 9.6% in the 4th quarter. Atria Wealth Solutions Inc. now owns 10,788 shares of the company’s stock valued at $155,000 after purchasing an additional 943 shares during the last quarter. Invesco Ltd. boosted its stake in 10x Genomics by 21.8% during the 4th quarter. Invesco Ltd. now owns 118,067 shares of the company’s stock worth $1,695,000 after acquiring an additional 21,134 shares during the last quarter. Deutsche Bank AG boosted its stake in 10x Genomics by 35.3% during the 4th quarter. Deutsche Bank AG now owns 10,190 shares of the company’s stock worth $146,000 after acquiring an additional 2,657 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in 10x Genomics by 36.0% during the 4th quarter. Sanctuary Advisors LLC now owns 24,433 shares of the company’s stock worth $368,000 after acquiring an additional 6,474 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in 10x Genomics in the fourth quarter valued at approximately $431,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

10x Genomics Company Profile

(Get Free Report)

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.

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