Shares of 10x Genomics, Inc. (NASDAQ:TXG - Get Free Report) have earned an average rating of "Moderate Buy" from the seventeen research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $29.19.
A number of brokerages have recently weighed in on TXG. Jefferies Financial Group upgraded 10x Genomics from a "hold" rating to a "buy" rating and set a $24.00 target price for the company in a research note on Monday, July 22nd. Canaccord Genuity Group dropped their target price on 10x Genomics from $32.00 to $20.00 and set a "buy" rating for the company in a research report on Thursday, October 10th. JPMorgan Chase & Co. decreased their price target on 10x Genomics from $20.00 to $14.00 and set a "neutral" rating on the stock in a report on Wednesday, October 30th. Barclays dropped their price objective on 10x Genomics from $21.00 to $19.00 and set an "overweight" rating for the company in a report on Friday, November 1st. Finally, Morgan Stanley reduced their target price on shares of 10x Genomics from $50.00 to $46.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 13th.
Get Our Latest Stock Analysis on 10x Genomics
10x Genomics Stock Up 1.7 %
10x Genomics stock traded up $0.26 on Monday, hitting $15.90. The company's stock had a trading volume of 3,464,685 shares, compared to its average volume of 1,718,474. The company has a fifty day moving average price of $19.22 and a 200-day moving average price of $20.81. The firm has a market cap of $1.92 billion, a P/E ratio of -10.33 and a beta of 1.87. 10x Genomics has a one year low of $14.02 and a one year high of $57.90.
10x Genomics (NASDAQ:TXG - Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.34) by $0.04. 10x Genomics had a negative return on equity of 25.07% and a negative net margin of 28.93%. The business had revenue of $151.65 million during the quarter, compared to analysts' expectations of $158.84 million. During the same period in the prior year, the firm posted ($0.51) EPS. 10x Genomics's quarterly revenue was down 1.3% compared to the same quarter last year. Analysts anticipate that 10x Genomics will post -1.4 EPS for the current year.
Insider Activity at 10x Genomics
In other 10x Genomics news, CFO Justin J. Mcanear sold 2,961 shares of the stock in a transaction on Thursday, August 22nd. The shares were 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 owns 143,242 shares in the company, valued at $3,227,242.26. 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 is available through this link. In other news, CEO Serge Saxonov sold 6,749 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 value of $152,054.97. Following the transaction, the chief executive officer now owns 882,467 shares of the company's stock, valued at approximately $19,881,981.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Justin J. Mcanear sold 2,961 shares of the 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 transaction, the chief financial officer now owns 143,242 shares in the company, valued at approximately $3,227,242.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,061 shares of company stock valued at $316,794. 10.03% of the stock is owned by insiders.
Institutional Trading of 10x Genomics
Several hedge funds and other institutional investors have recently bought and sold shares of the business. ARK Investment Management LLC grew its holdings in shares of 10x Genomics by 48.2% during 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. grew its stake in 10x Genomics by 69.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,143,067 shares of the company's stock worth $119,483,000 after buying an additional 2,521,289 shares in the last quarter. Deerfield Management Company L.P. Series C bought a new position in 10x Genomics in the 2nd quarter valued at about $11,612,000. Price T Rowe Associates Inc. MD raised its position in shares of 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 valued at $137,257,000 after buying an additional 553,053 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of 10x Genomics by 3.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,373,212 shares of the company's stock worth $143,907,000 after acquiring an additional 230,145 shares during the period. Institutional investors and hedge funds own 84.68% of the company's stock.
About 10x Genomics
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Get Free Report10x 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.
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