10x Genomics, Inc. (NASDAQ:TXG) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of 10x Genomics, Inc. (NASDAQ:TXG) have received an average recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $30.60.

A number of equities research analysts recently weighed in on TXG shares. Canaccord Genuity Group lowered their target price on shares of 10x Genomics from $32.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Barclays lowered their target price on shares of 10x Genomics from $24.00 to $21.00 and set an “overweight” rating on the stock in a report on Tuesday. Guggenheim reaffirmed a “neutral” rating on shares of 10x Genomics in a research report on Tuesday, June 25th. The Goldman Sachs Group reduced their price objective on shares of 10x Genomics from $26.00 to $16.00 and set a “sell” rating for the company in a research report on Tuesday, July 9th. Finally, Stifel Nicolaus reduced their price objective on shares of 10x Genomics from $53.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, July 16th.

Insider Activity

In other news, insider Benjamin J. Hindson sold 4,351 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $98,028.03. Following the completion of the transaction, the insider now directly owns 345,704 shares of the company’s stock, valued at $7,788,711.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Serge Saxonov sold 6,749 shares of the firm’s 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 $152,054.97. Following the completion of the transaction, the chief executive officer now directly owns 882,467 shares of the company’s stock, valued at approximately $19,881,981.51. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benjamin J. Hindson sold 4,351 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 $98,028.03. Following the completion of the transaction, the insider now directly owns 345,704 shares of the company’s stock, valued at approximately $7,788,711.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,061 shares of company stock valued at $316,794 in the last three months. Company insiders own 10.03% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. ARK Investment Management LLC lifted its stake in 10x Genomics by 48.2% in the 2nd quarter. ARK Investment Management LLC now owns 9,313,763 shares of the company’s stock worth $181,153,000 after purchasing an additional 3,029,951 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in 10x Genomics by 69.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,143,067 shares of the company’s stock worth $119,483,000 after purchasing an additional 2,521,289 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its stake in 10x Genomics by 58.6% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock worth $135,780,000 after purchasing an additional 1,338,248 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new stake in 10x Genomics in the 2nd quarter worth approximately $11,612,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in 10x Genomics by 17.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,657,227 shares of the company’s stock worth $137,257,000 after purchasing an additional 553,053 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

10x Genomics Price Performance

TXG opened at $15.74 on Thursday. 10x Genomics has a fifty-two week low of $14.02 and a fifty-two week high of $57.90. The firm has a market capitalization of $1.90 billion, a PE ratio of -7.79 and a beta of 1.85. The company’s 50-day moving average is $21.28 and its 200 day moving average is $22.93.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.15. 10x Genomics had a negative net margin of 37.90% and a negative return on equity of 28.23%. The company had revenue of $153.10 million for the quarter, compared to analyst estimates of $150.90 million. As a group, analysts expect that 10x Genomics will post -1.35 EPS for the current year.

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.