10x Genomics (NASDAQ:TXG) Coverage Initiated at Leerink Partners

Leerink Partners initiated coverage on shares of 10x Genomics (NASDAQ:TXG) in a research report report published on Tuesday morning, Marketbeat reports. The firm issued an outperform rating and a $35.00 price objective on the stock.

Several other research analysts have also weighed in on the stock. Jefferies Financial Group raised shares of 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. Morgan Stanley cut their price objective on shares of 10x Genomics from $50.00 to $46.00 and set an overweight rating on the stock in a report on Tuesday, August 13th. UBS Group lowered their target price on shares of 10x Genomics from $30.00 to $25.00 and set a neutral rating on the stock in a research report on Tuesday, August 13th. Bank of America lowered their target price on shares of 10x Genomics from $36.00 to $25.00 and set a neutral rating on the stock in a research report on Thursday, July 18th. Finally, Wolfe Research reiterated a peer perform rating on shares of 10x Genomics in a research report on Thursday, June 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, 10x Genomics has a consensus rating of Moderate Buy and a consensus price target of $31.60.

10x Genomics Stock Down 6.9 %

Shares of NASDAQ TXG opened at $21.54 on Tuesday. 10x Genomics has a 52 week low of $15.28 and a 52 week high of $57.90. The firm has a 50-day simple moving average of $20.19 and a 200-day simple moving average of $27.01. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of -9.66 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $153.10 million during the quarter, compared to analyst estimates of $150.90 million. As a group, equities research analysts expect that 10x Genomics will post -1.35 EPS for the current year.

Insider Transactions at 10x Genomics

In other news, insider Benjamin J. Hindson sold 4,351 shares of 10x Genomics stock in a transaction 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 owns 345,704 shares of the company’s stock, valued at approximately $7,788,711.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Justin J. Mcanear sold 2,961 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 143,242 shares of the company’s stock, valued at approximately $3,227,242.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benjamin J. Hindson sold 4,351 shares of the business’s stock in a transaction dated 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 approximately $7,788,711.12. The disclosure for this sale can be found here. Insiders sold 14,061 shares of company stock valued at $316,794 in the last 90 days. 10.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of 10x Genomics by 113.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock worth $26,000 after purchasing an additional 371 shares during the period. First Horizon Advisors Inc. boosted its holdings in 10x Genomics by 74.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock worth $37,000 after acquiring an additional 808 shares during the period. Covestor Ltd boosted its holdings in 10x Genomics by 501.7% in the 1st quarter. Covestor Ltd now owns 1,047 shares of the company’s stock worth $39,000 after acquiring an additional 873 shares during the period. Headlands Technologies LLC purchased a new position in 10x Genomics in the 1st quarter worth approximately $71,000. Finally, Van ECK Associates Corp raised its position in shares of 10x Genomics by 23.4% in the 4th quarter. Van ECK Associates Corp now owns 1,908 shares of the company’s stock valued at $107,000 after purchasing an additional 362 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.