10x Genomics (NASDAQ:TXG) Upgraded at Leerink Partnrs

Leerink Partnrs upgraded shares of 10x Genomics (NASDAQ:TXG) to a strong-buy rating in a report published on Tuesday morning, Zacks.com reports. Leerink Partnrs also issued estimates for 10x Genomics’ Q3 2024 earnings at ($0.27) EPS, Q4 2024 earnings at ($0.15) EPS, FY2024 earnings at ($1.24) EPS, Q1 2025 earnings at ($0.29) EPS, Q2 2025 earnings at ($0.22) EPS, Q3 2025 earnings at ($0.16) EPS, Q4 2025 earnings at ($0.02) EPS, FY2025 earnings at ($0.69) EPS and FY2026 earnings at ($0.38) EPS.

A number of other equities research analysts have also issued reports on TXG. Barclays reduced their target price on 10x Genomics from $36.00 to $24.00 and set an overweight rating on the stock in a research note on Friday, June 28th. Bank of America reduced their target price on 10x Genomics from $36.00 to $25.00 and set a neutral rating on the stock in a research note on Thursday, July 18th. Leerink Partners began coverage on 10x Genomics in a research note on Tuesday. They issued an outperform rating and a $35.00 target price on the stock. Canaccord Genuity Group reduced their price target on 10x Genomics from $50.00 to $32.00 and set a buy rating on the stock in a research note on Tuesday, July 23rd. Finally, Morgan Stanley reduced their price target on 10x Genomics from $50.00 to $46.00 and set an overweight rating on the stock in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $31.60.

10x Genomics Price Performance

TXG opened at $23.14 on Tuesday. The stock has a market cap of $2.79 billion, a P/E ratio of -10.38 and a beta of 1.85. The stock’s 50 day simple moving average is $20.15 and its 200 day simple moving average is $27.20. 10x Genomics has a 1-year low of $15.28 and a 1-year high of $57.90.

10x Genomics (NASDAQ:TXG) last released its quarterly 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. The business 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%. Research analysts expect that 10x Genomics will post -1.37 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Benjamin J. Hindson sold 4,351 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 345,704 shares in the company, valued at $7,788,711.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Justin J. Mcanear sold 2,961 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $66,711.33. Following the completion of the sale, the chief financial officer now directly owns 143,242 shares in the company, valued at $3,227,242.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Benjamin J. Hindson sold 4,351 shares of 10x Genomics stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $98,028.03. Following the completion of the transaction, the insider now owns 345,704 shares of the company’s stock, valued at $7,788,711.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,061 shares of company stock valued at $316,794. 10.03% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On 10x Genomics

A number of hedge funds have recently bought and sold shares of the company. Venrock Management VI LLC bought a new position in 10x Genomics in the fourth quarter worth about $117,894,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in 10x Genomics by 58.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,621,778 shares of the company’s stock worth $135,925,000 after acquiring an additional 1,338,248 shares during the last quarter. Vanguard Group Inc. lifted its holdings in 10x Genomics by 1.0% in the first quarter. Vanguard Group Inc. now owns 9,101,536 shares of the company’s stock worth $341,581,000 after acquiring an additional 90,204 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in 10x Genomics by 264.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 319,287 shares of the company’s stock worth $11,983,000 after acquiring an additional 231,697 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in 10x Genomics by 604.9% in the second quarter. SG Americas Securities LLC now owns 101,344 shares of the company’s stock worth $1,971,000 after acquiring an additional 86,967 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

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.