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

Shares of 10x Genomics, Inc. (NASDAQ:TXG) have received a consensus rating of “Hold” from the thirteen research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $31.46.

A number of equities research analysts have commented on TXG shares. Guggenheim restated a “neutral” rating on shares of 10x Genomics in a research report on Tuesday, June 25th. Canaccord Genuity Group dropped their target price on shares of 10x Genomics from $50.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, July 23rd. UBS Group decreased their price target on 10x Genomics from $30.00 to $25.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. The Goldman Sachs Group dropped their price objective on 10x Genomics from $26.00 to $16.00 and set a “sell” rating for the company in a research note on Tuesday, July 9th. Finally, JPMorgan Chase & Co. cut shares of 10x Genomics from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $40.00 to $20.00 in a research report on Thursday, July 18th.

10x Genomics Trading Down 1.0 %

TXG opened at $22.57 on Wednesday. 10x Genomics has a twelve month low of $15.28 and a twelve month high of $57.90. The firm has a market capitalization of $2.69 billion, a PE ratio of -10.12 and a beta of 1.84. The firm’s 50-day moving average price is $19.70 and its 200 day moving average price is $28.14.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, insider Benjamin J. Hindson sold 4,351 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $98,028.03. Following the completion of the sale, the insider now directly owns 345,704 shares of the company’s stock, valued at approximately $7,788,711.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Justin J. Mcanear sold 2,961 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $66,711.33. Following the completion of the sale, the chief financial officer now directly owns 143,242 shares of the company’s stock, valued at approximately $3,227,242.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Benjamin J. Hindson sold 4,351 shares of 10x Genomics stock in a transaction that occurred on Thursday, August 22nd. The shares were 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 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 worth $316,794. 10.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TXG. Algert Global LLC increased its holdings in 10x Genomics by 39.4% during the 2nd quarter. Algert Global LLC now owns 117,964 shares of the company’s stock valued at $2,294,000 after acquiring an additional 33,364 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its stake in shares of 10x Genomics by 166.7% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 201,671 shares of the company’s stock worth $3,923,000 after purchasing an additional 126,052 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new position in shares of 10x Genomics during the 2nd quarter worth approximately $11,612,000. AQR Capital Management LLC raised its position in shares of 10x Genomics by 230.9% during the 2nd quarter. AQR Capital Management LLC now owns 315,180 shares of the company’s stock worth $6,130,000 after purchasing an additional 219,945 shares during the last quarter. Finally, Squarepoint Ops LLC grew its holdings in 10x Genomics by 1.1% during the 2nd quarter. Squarepoint Ops LLC now owns 515,883 shares of the company’s stock valued at $10,034,000 after buying an additional 5,720 shares during the last quarter. 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.