10x Genomics (NASDAQ:TXG) Given Equal Weight Rating at Stephens

by · The Markets Daily

10x Genomics (NASDAQ:TXG – Get Free Report)‘s stock had its “equal weight” rating restated by equities research analysts at Stephens in a research report issued to clients and investors on Friday, Marketbeat reports.

Several other equities analysts have also recently commented on TXG. UBS Group started coverage on 10x Genomics in a research report on Wednesday, September 9th. They set a “neutral” rating and a $68.00 target price for the company. Royal Bank Of Canada assumed coverage on 10x Genomics in a research report on Tuesday, September 1st. They set a “sector perform” rating and a $70.00 price target for the company. Canaccord Genuity Group boosted their price objective on 10x Genomics from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 12th. Citigroup upped their price objective on shares of 10x Genomics from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Finally, Piper Sandler raised their target price on shares of 10x Genomics from $47.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, September 28th. Five investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $68.00.

View Our Latest Analysis on 10x Genomics

10x Genomics Stock Performance

10x Genomics stock traded up $1.92 during midday trading on Friday, reaching $71.67. 976,352 shares of the stock were exchanged, compared to its average volume of 2,997,573. 10x Genomics has a 52 week low of $12.34 and a 52 week high of $102.81. The firm has a market cap of $9.34 billion, a PE ratio of -121.39 and a beta of 1.99. The company’s fifty day moving average is $72.18 and its 200-day moving average is $47.07.

10x Genomics (NASDAQ:TXG – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.10. The firm had revenue of $151.04 million during the quarter, compared to the consensus estimate of $146.67 million. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.33%. The business’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same period last year, the firm earned $0.28 EPS. On average, sell-side analysts anticipate that 10x Genomics will post -0.75 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Shehnaaz Suliman sold 5,723 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $81.19, for a total transaction of $464,650.37. Following the transaction, the director directly owned 23,792 shares of the company’s stock, valued at approximately $1,931,672.48. This trade represents a 19.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Adam Taich sold 46,388 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $64.57, for a total value of $2,995,273.16. Following the completion of the sale, the chief financial officer owned 316,344 shares of the company’s stock, valued at $20,426,332.08. The trade was a 12.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 179,333 shares of company stock valued at $11,810,070. 8.84% of the stock is owned by insiders.

Institutional Investors Weigh In On 10x Genomics

A number of hedge funds have recently made changes to their positions in TXG. Quantinno Capital Management LP grew its holdings in shares of 10x Genomics by 16.0% during the 1st quarter. Quantinno Capital Management LP now owns 5,411,761 shares of the company’s stock valued at $114,892,000 after purchasing an additional 744,558 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of 10x Genomics by 34.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,042,950 shares of the company’s stock valued at $43,357,000 after acquiring an additional 525,369 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in 10x Genomics during the 1st quarter valued at about $5,945,000. Quantedge Capital Pte Ltd boosted its holdings in 10x Genomics by 104.2% during the 1st quarter. Quantedge Capital Pte Ltd now owns 416,553 shares of the company’s stock valued at $8,843,000 after acquiring an additional 212,600 shares during the period. Finally, Counterpoint Mutual Funds LLC bought a new position in 10x Genomics during the 3rd quarter worth approximately $11,364,000. 84.68% of the stock is currently owned by institutional investors.

10x Genomics Company Profile

(Get Free Report)

10x Genomics, Inc is a life sciences technology company that develops tools for analyzing biological systems at the single-cell and spatial levels. Its technologies are designed to help researchers study gene expression, cellular interactions, tissue organization and other biological processes in greater detail than conventional laboratory methods.

The company’s product portfolio includes the Chromium platform for single-cell analysis, the Visium platform for spatial transcriptomics, and the Xenium platform for high-resolution in situ analysis of tissue samples.

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