Analysts Set 10x Genomics, Inc. (NASDAQ:TXG) Target Price at $48.50

10x Genomics, Inc. (NASDAQ:TXG) has earned an average recommendation of “Moderate Buy” from the twelve analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $48.50.

A number of research firms recently issued reports on TXG. Deutsche Bank Aktiengesellschaft decreased their price objective on 10x Genomics from $60.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, April 18th. TD Cowen downgraded 10x Genomics from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $57.00 to $32.00 in a report on Wednesday, May 1st. The Goldman Sachs Group decreased their price objective on 10x Genomics from $30.00 to $26.00 and set a “sell” rating for the company in a report on Wednesday, May 1st. Barclays decreased their price objective on 10x Genomics from $55.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. Finally, UBS Group decreased their price objective on 10x Genomics from $52.00 to $30.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st.

10x Genomics Price Performance

NASDAQ TXG opened at $22.59 on Monday. The firm has a market cap of $2.69 billion, a P/E ratio of -10.13 and a beta of 1.94. The stock’s 50-day moving average is $30.74 and its 200-day moving average is $40.80. 10x Genomics has a one year low of $22.50 and a one year high of $63.57.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings results on Tuesday, April 30th. The company reported ($0.50) EPS for the quarter, hitting analysts’ consensus estimates of ($0.50). The company had revenue of $141.01 million for the quarter, compared to analyst estimates of $142.24 million. 10x Genomics had a negative return on equity of 30.85% and a negative net margin of 42.20%. 10x Genomics’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.44) earnings per share. Equities analysts anticipate that 10x Genomics will post -1.55 EPS for the current year.

Insider Transactions at 10x Genomics

In other news, CFO Justin J. Mcanear sold 2,936 shares of 10x Genomics stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total transaction of $71,344.80. Following the completion of the transaction, the chief financial officer now directly owns 146,203 shares in the company, valued at approximately $3,552,732.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Serge Saxonov sold 4,660 shares of 10x Genomics stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $44.00, for a total transaction of $205,040.00. Following the completion of the sale, the chief executive officer now directly owns 842,900 shares of the company’s stock, valued at approximately $37,087,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Justin J. Mcanear sold 2,936 shares of 10x Genomics stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $71,344.80. Following the sale, the chief financial officer now directly owns 146,203 shares of the company’s stock, valued at $3,552,732.90. The disclosure for this sale can be found here. In the last three months, insiders sold 16,560 shares of company stock worth $494,210. 10.03% of the stock is owned by company insiders.

Institutional Trading of 10x Genomics

Several hedge funds have recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its holdings in 10x Genomics by 51.6% during the 4th quarter. UMB Bank n.a. now owns 782 shares of the company’s stock worth $44,000 after purchasing an additional 266 shares during the last quarter. Van ECK Associates Corp raised its holdings in 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 acquiring an additional 362 shares in the last quarter. AIA Group Ltd raised its holdings in 10x Genomics by 0.9% in the 4th quarter. AIA Group Ltd now owns 41,369 shares of the company’s stock valued at $2,315,000 after acquiring an additional 365 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in 10x Genomics by 113.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock valued at $26,000 after acquiring an additional 371 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in 10x Genomics by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 40,717 shares of the company’s stock valued at $2,279,000 after acquiring an additional 400 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

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.