Analysts Set 10x Genomics, Inc. (NASDAQ:TXG) Target Price at $20.21

Shares of 10x Genomics, Inc. (NASDAQ:TXG - Get Free Report) have received an average rating of "Hold" from the seventeen brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $20.21.

A number of research analysts have recently weighed in on the company. Barclays cut their price objective on 10x Genomics from $19.00 to $18.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. Leerink Partnrs cut 10x Genomics from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 13th. JPMorgan Chase & Co. lowered their target price on 10x Genomics from $14.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Weiss Ratings restated a "sell (e+)" rating on shares of 10x Genomics in a research report on Friday, March 7th. Finally, Citigroup dropped their price objective on shares of 10x Genomics from $20.00 to $15.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th.

10x Genomics Stock Up 0.3 %

NASDAQ TXG traded up $0.03 during trading hours on Friday, reaching $10.54. The company's stock had a trading volume of 1,608,481 shares, compared to its average volume of 1,978,738. 10x Genomics has a 1 year low of $9.27 and a 1 year high of $39.30. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -6.95 and a beta of 1.93. The firm's 50-day moving average price is $13.01 and its 200-day moving average price is $15.75.

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10x Genomics (NASDAQ:TXG - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.08). 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. Equities research analysts anticipate that 10x Genomics will post -1.43 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Alan Mateo acquired 40,000 shares of the stock in a transaction on Friday, February 21st. The stock was bought at an average cost of $11.14 per share, with a total value of $445,600.00. Following the transaction, the director now directly owns 61,691 shares in the company, valued at approximately $687,237.74. This represents a 184.41 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Serge Saxonov sold 5,092 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $11.07, for a total transaction of $56,368.44. Following the transaction, the chief executive officer now directly owns 879,482 shares in the company, valued at approximately $9,735,865.74. This trade represents a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.03% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On 10x Genomics

Several institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in 10x Genomics by 355.0% during the third quarter. JPMorgan Chase & Co. now owns 355,488 shares of the company's stock worth $8,027,000 after buying an additional 277,355 shares during the period. Entropy Technologies LP boosted its position in 10x Genomics by 285.6% during the fourth quarter. Entropy Technologies LP now owns 37,595 shares of the company's stock valued at $540,000 after purchasing an additional 27,844 shares in the last quarter. Geode Capital Management LLC boosted its position in 10x Genomics by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company's stock valued at $41,009,000 after purchasing an additional 42,777 shares in the last quarter. SG Americas Securities LLC grew its stake in 10x Genomics by 209.8% in the fourth quarter. SG Americas Securities LLC now owns 73,046 shares of the company's stock valued at $1,049,000 after purchasing an additional 49,468 shares during the last quarter. Finally, Alberta Investment Management Corp bought a new position in 10x Genomics in the fourth quarter worth about $3,206,000. 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.