10x Genomics (NASDAQ:TXG) Receives $18.11 Average PT from Analysts

10x Genomics (NASDAQ:TXG) has earned a consensus recommendation of “Hold” from the sixteen brokerages that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $18.4643.

TXG has been the subject of a number of recent analyst reports. Piper Sandler raised their price objective on shares of 10x Genomics from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Wall Street Zen cut 10x Genomics from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Canaccord Genuity Group set a $22.00 price target on 10x Genomics in a research note on Friday, February 13th. TD Cowen increased their price objective on 10x Genomics from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Friday, February 13th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $20.00 target price (up from $17.00) on shares of 10x Genomics in a report on Monday, December 1st.

10x Genomics Trading Down 2.2%

Shares of NASDAQ TXG opened at $22.62 on Friday. The stock has a market cap of $2.89 billion, a P/E ratio of -64.63 and a beta of 2.20. The business’s fifty day simple moving average is $19.58 and its 200-day simple moving average is $16.23. 10x Genomics has a 12-month low of $6.78 and a 12-month high of $23.56.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Thursday, February 12th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.06. The firm had revenue of $166.03 million for the quarter, compared to analysts’ expectations of $160.35 million. 10x Genomics had a negative net margin of 6.77% and a negative return on equity of 6.89%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.40) earnings per share. On average, equities analysts forecast that 10x Genomics will post -1.43 EPS for the current fiscal year.

Insider Buying and Selling at 10x Genomics

In other news, insider Benjamin J. Hindson sold 7,826 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $18.58, for a total value of $145,407.08. Following the sale, the insider directly owned 424,779 shares in the company, valued at $7,892,393.82. This represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Adam Taich sold 8,968 shares of 10x Genomics stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $18.58, for a total value of $166,625.44. Following the transaction, the chief financial officer owned 288,417 shares of the company’s stock, valued at $5,358,787.86. This represents a 3.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,426 shares of company stock valued at $490,995 over the last quarter. Corporate insiders own 10.03% of the company’s stock.

Institutional Trading of 10x Genomics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC increased its position in 10x Genomics by 241.3% during the 2nd quarter. AQR Capital Management LLC now owns 4,137,801 shares of the company’s stock worth $47,916,000 after purchasing an additional 2,925,372 shares in the last quarter. Millennium Management LLC grew its holdings in shares of 10x Genomics by 84.7% during the third quarter. Millennium Management LLC now owns 5,437,969 shares of the company’s stock worth $63,570,000 after buying an additional 2,494,142 shares in the last quarter. Wellington Management Group LLP raised its position in shares of 10x Genomics by 126.6% in the third quarter. Wellington Management Group LLP now owns 4,285,628 shares of the company’s stock valued at $50,099,000 after buying an additional 2,394,355 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of 10x Genomics by 207.2% in the second quarter. Quantinno Capital Management LP now owns 2,233,526 shares of the company’s stock valued at $25,864,000 after buying an additional 1,506,530 shares during the last quarter. Finally, Casdin Capital LLC purchased a new position in shares of 10x Genomics during the fourth quarter valued at approximately $22,834,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

10x Genomics Company Profile

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.