Guggenheim Reaffirms Neutral Rating for 10x Genomics (NASDAQ:TXG)

Guggenheim reaffirmed their neutral rating on shares of 10x Genomics (NASDAQ:TXG) in a research report sent to investors on Tuesday morning, MarketBeat.com reports.

A number of other research analysts have also recently issued reports on the stock. Bank of America decreased their price objective on shares of 10x Genomics from $45.00 to $36.00 and set a neutral rating on the stock in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of 10x Genomics from $60.00 to $55.00 and set a buy rating on the stock in a research note on Thursday, April 18th. Jefferies Financial Group began coverage on shares of 10x Genomics in a research note on Monday, June 3rd. They issued a hold rating and a $24.00 price objective on the stock. Canaccord Genuity Group decreased their price objective on shares of 10x Genomics from $65.00 to $50.00 and set a buy rating on the stock in a research note on Monday, April 29th. Finally, TD Cowen cut shares of 10x Genomics from a buy rating to a hold rating and decreased their price objective for the company from $57.00 to $32.00 in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and an average target price of $45.00.

10x Genomics Trading Down 2.0 %

Shares of TXG opened at $19.45 on Tuesday. 10x Genomics has a 12 month low of $18.39 and a 12 month high of $63.57. The firm’s 50 day moving average is $23.62 and its 200-day moving average is $37.03. The stock has a market capitalization of $2.32 billion, a PE ratio of -8.72 and a beta of 1.87.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Tuesday, April 30th. The company reported ($0.50) EPS for the quarter, hitting the consensus estimate of ($0.50). 10x Genomics had a negative net margin of 42.20% and a negative return on equity of 30.85%. The company had revenue of $141.01 million for the quarter, compared to analysts’ expectations of $142.24 million. During the same period last year, the firm earned ($0.44) earnings per share. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities research analysts predict that 10x Genomics will post -1.53 earnings per share for the current fiscal year.

Insider Transactions at 10x Genomics

In related news, CEO Serge Saxonov sold 4,877 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total value of $118,511.10. Following the transaction, the chief executive officer now owns 889,641 shares in the company, valued at $21,618,276.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Benjamin J. Hindson sold 4,087 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total value of $99,314.10. Following the transaction, the insider now owns 350,055 shares in the company, valued at $8,506,336.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Serge Saxonov sold 4,877 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total transaction of $118,511.10. Following the completion of the transaction, the chief executive officer now owns 889,641 shares in the company, valued at approximately $21,618,276.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,900 shares of company stock worth $289,170. Company insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its position in shares of 10x Genomics by 113.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock worth $26,000 after acquiring an additional 371 shares in the last quarter. UMB Bank n.a. increased its position in shares of 10x Genomics by 51.6% during the fourth quarter. UMB Bank n.a. now owns 782 shares of the company’s stock worth $44,000 after acquiring an additional 266 shares in the last quarter. Covestor Ltd increased 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. Harvest Fund Management Co. Ltd bought a new stake in shares of 10x Genomics during the fourth quarter worth about $66,000. Finally, Headlands Technologies LLC bought a new stake in shares of 10x Genomics during the first quarter worth about $71,000. 84.68% of the stock is owned by 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.