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

by · The Cerbat Gem

Shares of 10x Genomics, Inc. (NASDAQ:TXG – Get Free Report) have received an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $60.55.

A number of analysts recently issued reports on the company. Bank of America upgraded 10x Genomics from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $36.00 to $54.00 in a research report on Tuesday, December 12th. Wolfe Research started coverage on 10x Genomics in a research report on Wednesday, December 13th. They set an “outperform” rating and a $55.00 target price for the company. Barclays decreased their target price on 10x Genomics from $66.00 to $47.00 and set an “overweight” rating for the company in a research report on Friday, September 29th. Finally, Guggenheim started coverage on 10x Genomics in a research report on Thursday, December 14th. They set a “buy” rating and a $60.00 target price for the company.

Check Out Our Latest Stock Report on TXG

Insider Activity

In other news, insider James Wilbur sold 14,718 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $42.09, for a total transaction of $619,480.62. Following the transaction, the insider now owns 86,806 shares in the company, valued at $3,653,664.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other 10x Genomics news, CFO Justin J. Mcanear sold 1,679 shares of 10x Genomics stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $43.34, for a total value of $72,767.86. Following the transaction, the chief financial officer now owns 97,105 shares in the company, valued at $4,208,530.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James Wilbur sold 14,718 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $42.09, for a total value of $619,480.62. Following the completion of the sale, the insider now directly owns 86,806 shares of the company’s stock, valued at approximately $3,653,664.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,341 shares of company stock worth $1,458,996. Company insiders own 10.65% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Institutional investors have recently added to or reduced their stakes in the business. Indiana Trust & Investment Management CO acquired a new stake in 10x Genomics in the third quarter worth about $29,000. Atlas Capital Advisors LLC lifted its holdings in shares of 10x Genomics by 41.7% during the second quarter. Atlas Capital Advisors LLC now owns 935 shares of the company’s stock worth $42,000 after purchasing an additional 275 shares during the period. Comerica Bank acquired a new stake in shares of 10x Genomics during the third quarter worth about $64,000. PNC Financial Services Group Inc. lifted its holdings in shares of 10x Genomics by 17.9% during the second quarter. PNC Financial Services Group Inc. now owns 1,299 shares of the company’s stock worth $73,000 after purchasing an additional 197 shares during the period. Finally, Natixis acquired a new stake in shares of 10x Genomics during the fourth quarter worth about $74,000. Institutional investors and hedge funds own 79.16% of the company’s stock.

10x Genomics Stock Performance

NASDAQ TXG opened at $43.16 on Tuesday. The company has a market capitalization of $5.10 billion, a P/E ratio of -22.60 and a beta of 1.92. 10x Genomics has a one year low of $33.79 and a one year high of $63.57. The stock has a 50 day moving average price of $48.43 and a 200-day moving average price of $47.76.

10x Genomics (NASDAQ:TXG – Get Free Report) last issued its quarterly earnings results on Thursday, November 2nd. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.06). The company had revenue of $153.64 million during the quarter, compared to the consensus estimate of $150.11 million. 10x Genomics had a negative return on equity of 24.24% and a negative net margin of 37.79%. As a group, equities analysts predict that 10x Genomics will post -1.87 EPS for the current fiscal year.

About 10x Genomics

(Get Free Report

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in North America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium and chromium connect instruments, microfluidic chips, slides, reagents, and other consumables products.

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