10x Genomics (NASDAQ:TXG) Rating Reiterated by Wolfe Research

Wolfe Research reaffirmed their peer perform rating on shares of 10x Genomics (NASDAQ:TXG) in a research note issued to investors on Thursday morning, Marketbeat reports.

A number of other equities research analysts have also recently commented on TXG. Jefferies Financial Group assumed coverage on 10x Genomics in a research note on Monday, June 3rd. They issued a hold rating and a $24.00 target price on the stock. TD Cowen downgraded shares of 10x Genomics from a buy rating to a hold rating and reduced their price target for the company from $57.00 to $32.00 in a research report on Wednesday, May 1st. 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. UBS Group lowered their price target on 10x Genomics from $52.00 to $30.00 and set a neutral rating on the stock in a report on Wednesday, May 1st. Finally, Barclays decreased their target price on 10x Genomics from $55.00 to $45.00 and set an overweight rating for the company in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $46.62.

10x Genomics Stock Performance

Shares of TXG opened at $19.85 on Thursday. 10x Genomics has a one year low of $18.39 and a one year high of $63.57. The company has a 50-day simple moving average of $23.79 and a two-hundred day simple moving average of $37.23.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.50) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.50). The company had revenue of $141.01 million during the quarter, compared to analyst estimates of $142.24 million. 10x Genomics had a negative net margin of 42.20% and a negative return on equity of 30.85%. 10x Genomics’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the business earned ($0.44) EPS. As a group, equities research analysts predict that 10x Genomics will post -1.53 EPS for the current year.

Insider Buying and Selling

In other 10x Genomics news, insider Benjamin J. Hindson sold 4,087 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total value of $99,314.10. Following the completion of the transaction, the insider now directly owns 350,055 shares in the company, valued at $8,506,336.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Benjamin J. Hindson sold 4,087 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $99,314.10. Following the completion of the transaction, the insider now owns 350,055 shares of the company’s stock, valued at $8,506,336.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Serge Saxonov sold 4,877 shares of 10x Genomics stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total value of $118,511.10. Following the sale, the chief executive officer now directly owns 889,641 shares in the company, valued at approximately $21,618,276.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,900 shares of company stock valued at $289,170. 10.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Venrock Management VI LLC bought a new position in 10x Genomics during the fourth quarter valued at approximately $117,894,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of 10x Genomics by 58.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,621,778 shares of the company’s stock valued at $135,925,000 after acquiring an additional 1,338,248 shares during the last quarter. Nikko Asset Management Americas Inc. grew its holdings in shares of 10x Genomics by 58.6% in the first quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock valued at $135,780,000 after purchasing an additional 1,338,248 shares in the last quarter. ARK Investment Management LLC increased its position in 10x Genomics by 35.0% in the fourth 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 last quarter. Finally, SVB Wealth LLC raised its stake in 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 purchasing an additional 693,422 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

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.