10x Genomics, Inc. (NASDAQ:TXG) Receives $31.60 Average PT from Analysts

by · The Markets Daily

10x Genomics, Inc. (NASDAQ:TXG – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the sixteen brokerages that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $31.60.

Several analysts have recently weighed in on TXG shares. Canaccord Genuity Group decreased their target price on 10x Genomics from $50.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, July 23rd. Leerink Partners assumed coverage on shares of 10x Genomics in a research report on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price objective for the company. The Goldman Sachs Group reduced their target price on shares of 10x Genomics from $26.00 to $16.00 and set a “sell” rating on the stock in a research report on Tuesday, July 9th. Stephens reiterated an “overweight” rating and issued a $30.00 price target on shares of 10x Genomics in a report on Wednesday, September 4th. Finally, Bank of America dropped their price objective on 10x Genomics from $36.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, July 18th.

Check Out Our Latest Report on 10x Genomics

10x Genomics Price Performance

NASDAQ:TXG opened at $22.30 on Friday. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of -10.00 and a beta of 1.85. The business has a 50 day simple moving average of $21.31 and a 200-day simple moving average of $24.82. 10x Genomics has a 1 year low of $15.28 and a 1 year high of $57.90.

10x Genomics (NASDAQ:TXG – Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.15. 10x Genomics had a negative net margin of 37.90% and a negative return on equity of 28.23%. The company had revenue of $153.10 million for the quarter, compared to analyst estimates of $150.90 million. As a group, analysts expect that 10x Genomics will post -1.32 earnings per share for the current fiscal year.

Insider Transactions at 10x Genomics

In other news, insider Benjamin J. Hindson sold 4,351 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $98,028.03. Following the completion of the sale, the insider now owns 345,704 shares of the company’s stock, valued at approximately $7,788,711.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Serge Saxonov sold 6,749 shares of 10x Genomics stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $152,054.97. Following the completion of the sale, the chief executive officer now directly owns 882,467 shares in the company, valued at $19,881,981.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Benjamin J. Hindson sold 4,351 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $98,028.03. Following the sale, the insider now directly owns 345,704 shares in the company, valued at $7,788,711.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,061 shares of company stock valued at $316,794. Corporate insiders own 10.03% of the company’s stock.

Institutional Trading of 10x Genomics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of 10x Genomics in the fourth quarter valued at about $36,262,000. US Bancorp DE boosted its position in 10x Genomics by 19.4% in the fourth quarter. US Bancorp DE now owns 15,212 shares of the company’s stock valued at $851,000 after buying an additional 2,469 shares during the last quarter. Primecap Management Co. CA increased its holdings in 10x Genomics by 4.3% in the 4th quarter. Primecap Management Co. CA now owns 31,400 shares of the company’s stock worth $1,757,000 after buying an additional 1,300 shares during the period. TD Asset Management Inc raised its position in 10x Genomics by 15.4% during the 4th quarter. TD Asset Management Inc now owns 275,164 shares of the company’s stock worth $15,398,000 after buying an additional 36,800 shares during the last quarter. Finally, Decheng Capital LLC acquired a new stake in 10x Genomics during the 4th quarter valued at approximately $20,121,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

About 10x Genomics

(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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