10x Genomics, Inc. (NASDAQ:TXG) Given Average Rating of “Moderate Buy” by Brokerages

10x Genomics, Inc. (NASDAQ:TXG) has earned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $30.60.

Several research firms recently weighed in on TXG. JPMorgan Chase & Co. lowered 10x Genomics from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $40.00 to $20.00 in a research note on Thursday, July 18th. The Goldman Sachs Group reduced their price target on shares of 10x Genomics from $26.00 to $16.00 and set a “sell” rating on the stock in a research note on Tuesday, July 9th. Barclays lowered their price objective on shares of 10x Genomics from $24.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, October 15th. Jefferies Financial Group upgraded shares of 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Monday, July 22nd. Finally, Stifel Nicolaus lowered their price target on shares of 10x Genomics from $53.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, July 16th.

Insider Activity at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 6,749 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $152,054.97. Following the completion of the transaction, the chief executive officer now owns 882,467 shares in the company, valued at approximately $19,881,981.51. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other 10x Genomics news, CEO Serge Saxonov sold 6,749 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $152,054.97. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Justin J. Mcanear sold 2,961 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 $66,711.33. Following the completion of the transaction, the chief financial officer now directly owns 143,242 shares of the company’s stock, valued at approximately $3,227,242.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,061 shares of company stock worth $316,794 over the last ninety days. Insiders own 10.03% of the company’s stock.

Hedge Funds Weigh In On 10x Genomics

Institutional investors and hedge funds have recently modified their holdings of the business. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of 10x Genomics by 58.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,621,778 shares of the company’s stock valued at $135,925,000 after acquiring an additional 1,338,248 shares during the period. Vanguard Group Inc. raised its holdings in shares of 10x Genomics by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,101,536 shares of the company’s stock valued at $341,581,000 after purchasing an additional 90,204 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of 10x Genomics by 264.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 319,287 shares of the company’s stock worth $11,983,000 after purchasing an additional 231,697 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of 10x Genomics by 604.9% in the 2nd quarter. SG Americas Securities LLC now owns 101,344 shares of the company’s stock valued at $1,971,000 after buying an additional 86,967 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of 10x Genomics by 0.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 372,873 shares of the company’s stock valued at $20,866,000 after buying an additional 1,815 shares during the period. 84.68% of the stock is currently owned by institutional investors.

10x Genomics Trading Down 0.3 %

Shares of NASDAQ:TXG opened at $15.10 on Thursday. The firm has a 50 day moving average of $20.87 and a 200-day moving average of $22.24. 10x Genomics has a 12 month low of $14.02 and a 12 month high of $57.90. The stock has a market capitalization of $1.80 billion, a PE ratio of -6.75 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) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.15. The business had revenue of $153.10 million during the quarter, compared to the consensus estimate of $150.90 million. 10x Genomics had a negative net margin of 37.90% and a negative return on equity of 28.23%. On average, research analysts predict that 10x Genomics will post -1.35 EPS for the current fiscal year.

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.