10x Genomics (NASDAQ:TXG) Receives Overweight Rating from Stephens

10x Genomics (NASDAQ:TXG)‘s stock had its “overweight” rating reiterated by equities researchers at Stephens in a research note issued to investors on Thursday, Benzinga reports. They presently have a $30.00 price objective on the stock. Stephens’ price target suggests a potential upside of 84.50% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. Wolfe Research reaffirmed a “peer perform” rating on shares of 10x Genomics in a research note on Thursday, June 27th. Leerink Partnrs raised 10x Genomics to a “strong-buy” rating in a research report on Tuesday, September 3rd. Leerink Partners began coverage on 10x Genomics in a research note on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price target on the stock. JPMorgan Chase & Co. cut 10x Genomics from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $40.00 to $20.00 in a research note on Thursday, July 18th. Finally, Barclays lowered their target price on 10x Genomics from $36.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, 10x Genomics presently has a consensus rating of “Moderate Buy” and an average price target of $30.80.

10x Genomics Price Performance

Shares of 10x Genomics stock opened at $16.26 on Thursday. The stock’s 50-day moving average is $21.43 and its 200 day moving average is $23.47. 10x Genomics has a one year low of $14.02 and a one year high of $57.90. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of -7.29 and a beta of 1.85.

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

Insider Buying and Selling at 10x Genomics

In related news, CEO Serge Saxonov sold 6,749 shares of 10x Genomics stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $152,054.97. Following the sale, the chief executive officer now directly owns 882,467 shares in the company, valued at approximately $19,881,981.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other 10x Genomics news, CFO Justin J. Mcanear sold 2,961 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $66,711.33. Following the transaction, the chief financial officer now directly owns 143,242 shares in the company, valued at $3,227,242.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Serge Saxonov sold 6,749 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 transaction of $152,054.97. Following the sale, the chief executive officer now owns 882,467 shares of the company’s stock, valued at approximately $19,881,981.51. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,061 shares of company stock worth $316,794. Insiders own 10.03% of the company’s stock.

Hedge Funds Weigh In On 10x Genomics

Several institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in shares of 10x Genomics by 113.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock valued at $26,000 after buying an additional 371 shares during the period. GAMMA Investing LLC boosted its holdings in 10x Genomics by 451.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock worth $35,000 after buying an additional 1,265 shares during the period. First Horizon Advisors Inc. lifted its position in shares of 10x Genomics by 74.1% during the second quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock worth $37,000 after acquiring an additional 808 shares in the last quarter. Covestor Ltd lifted its position in shares of 10x Genomics by 501.7% during the first quarter. Covestor Ltd now owns 1,047 shares of the company’s stock worth $39,000 after acquiring an additional 873 shares in the last quarter. Finally, Sound Income Strategies LLC bought a new position in 10x Genomics in the 3rd quarter worth about $46,000. Hedge funds and other 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.