10x Genomics, Inc. (NASDAQ:TXG) Receives Consensus Rating of “Hold” from Analysts

Shares of 10x Genomics, Inc. (NASDAQ:TXG) have received a consensus rating of “Hold” from the seventeen analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $20.21.

Several equities research analysts have recently commented on the company. Stifel Nicolaus cut their price objective on 10x Genomics from $21.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 13th. UBS Group cut their price objective on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Leerink Partnrs downgraded 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. dropped their price target on 10x Genomics from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Finally, Morgan Stanley dropped their price target on 10x Genomics from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th.

10x Genomics Trading Up 4.7 %

Shares of NASDAQ:TXG opened at $10.34 on Friday. The stock has a market capitalization of $1.26 billion, a P/E ratio of -6.80 and a beta of 1.93. 10x Genomics has a 1-year low of $9.27 and a 1-year high of $39.30. The business has a 50-day moving average price of $13.22 and a two-hundred day moving average price of $15.97.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.08). 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. As a group, equities analysts predict that 10x Genomics will post -1.43 EPS for the current year.

Insider Buying and Selling at 10x Genomics

In other news, Director Alan Mateo bought 40,000 shares of the stock in a transaction dated Friday, February 21st. The shares were bought at an average cost of $11.14 per share, with a total value of $445,600.00. Following the completion of the transaction, the director now directly owns 61,691 shares of the company’s stock, valued at $687,237.74. This trade represents a 184.41 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Serge Saxonov sold 5,092 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $11.07, for a total value of $56,368.44. Following the completion of the sale, the chief executive officer now directly owns 879,482 shares of the company’s stock, valued at $9,735,865.74. The trade was a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

A number of institutional investors and hedge funds have recently bought and sold shares of TXG. Signaturefd LLC raised its position in 10x Genomics by 424.6% in the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock valued at $26,000 after buying an additional 1,452 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in 10x Genomics in the 4th quarter valued at $32,000. Blue Trust Inc. grew its stake in 10x Genomics by 73.1% in the 4th quarter. Blue Trust Inc. now owns 3,075 shares of the company’s stock valued at $44,000 after purchasing an additional 1,299 shares during the period. Sound Income Strategies LLC grew its stake in 10x Genomics by 65.2% in the 4th quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock valued at $48,000 after purchasing an additional 1,330 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in 10x Genomics in the 4th quarter valued at $52,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

About 10x Genomics

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.