10x Genomics (NASDAQ:TXG) Now Covered by Argus

Argus started coverage on shares of 10x Genomics (NASDAQ:TXG) in a research note published on Monday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $110.00 price target on the stock.

A number of other equities research analysts also recently weighed in on the company. Leerink Partners raised their target price on 10x Genomics from $23.00 to $40.00 and gave the company a “market perform” rating in a report on Friday, July 17th. Piper Sandler boosted their price target on 10x Genomics from $47.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday. Morgan Stanley upped their price objective on 10x Genomics from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Citigroup raised their price objective on 10x Genomics from $45.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Finally, Barclays lifted their target price on 10x Genomics from $30.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Six analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, 10x Genomics presently has an average rating of “Hold” and an average target price of $50.60.

10x Genomics Stock Performance

NASDAQ TXG opened at $88.50 on Monday. The firm has a 50-day moving average of $61.65 and a 200-day moving average of $39.54. The stock has a market cap of $11.53 billion, a PE ratio of -150.00 and a beta of 2.08. 10x Genomics has a 52-week low of $11.16 and a 52-week high of $89.95.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.10. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.33%. The business had revenue of $151.04 million for the quarter, compared to analyst estimates of $146.67 million. During the same quarter last year, the business posted $0.28 EPS. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. As a group, analysts predict that 10x Genomics will post -0.75 EPS for the current fiscal year.

Insider Activity

In other news, CEO Serge Saxonov sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $81.22, for a total value of $2,030,500.00. Following the transaction, the chief executive officer owned 1,050,249 shares in the company, valued at approximately $85,301,223.78. The trade was a 2.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Adam Taich sold 46,388 shares of 10x Genomics stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $64.57, for a total transaction of $2,995,273.16. Following the transaction, the chief financial officer directly owned 316,344 shares of the company’s stock, valued at $20,426,332.08. This represents a 12.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 179,333 shares of company stock worth $11,810,070. 8.84% of the stock is owned by insiders.

Hedge Funds Weigh In On 10x Genomics

Several institutional investors have recently made changes to their positions in TXG. Quantinno Capital Management LP raised its stake in 10x Genomics by 16.0% during the 1st quarter. Quantinno Capital Management LP now owns 5,411,761 shares of the company’s stock worth $114,892,000 after buying an additional 744,558 shares during the period. Amova Asset Management Americas Inc. boosted its position in shares of 10x Genomics by 2.0% during the fourth quarter. Amova Asset Management Americas Inc. now owns 5,486,153 shares of the company’s stock valued at $89,424,000 after buying an additional 109,270 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in 10x Genomics by 34.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,042,950 shares of the company’s stock worth $43,357,000 after buying an additional 525,369 shares in the last quarter. Casdin Capital LLC bought a new stake in shares of 10x Genomics in the 4th quarter worth $22,834,000. Finally, Clough Capital Partners L P purchased a new stake in 10x Genomics in the 4th quarter valued at about $9,955,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

10x Genomics Company Profile

10x Genomics, Inc develops life science technology for analyzing biological systems at the single-cell and spatial levels. Its platforms are designed to help researchers study gene expression, genetic variation, cell populations and tissue organization with greater detail than conventional laboratory methods.

The company’s product portfolio includes the Chromium platform for single-cell analysis, Visium solutions for spatial transcriptomics and tissue profiling, and Xenium in situ platforms for high-resolution analysis of RNA and other biological features within tissue samples.