10x Genomics (NASDAQ:TXG) Upgraded to Strong-Buy at Leerink Partnrs

Leerink Partnrs upgraded shares of 10x Genomics (NASDAQ:TXG) to a strong-buy rating in a report released on Tuesday, Zacks.com reports.

Other equities research analysts have also issued reports about the company. Wolfe Research reiterated a peer perform rating on shares of 10x Genomics in a research note on Thursday, June 27th. UBS Group reduced their price objective on 10x Genomics from $30.00 to $25.00 and set a neutral rating for the company in a research note on Tuesday, August 13th. Canaccord Genuity Group decreased their price objective on 10x Genomics from $50.00 to $32.00 and set a buy rating on the stock in a report on Tuesday, July 23rd. The Goldman Sachs Group dropped their target price on shares of 10x Genomics from $26.00 to $16.00 and set a sell rating for the company in a report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. downgraded shares of 10x Genomics from an overweight rating to a neutral rating and decreased their price target for the stock from $40.00 to $20.00 in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, 10x Genomics has a consensus rating of Hold and an average price target of $31.71.

10x Genomics Trading Down 1.4 %

NASDAQ:TXG opened at $23.03 on Tuesday. The company’s 50 day moving average is $20.02 and its two-hundred day moving average is $27.26. The company has a market cap of $2.77 billion, a PE ratio of -10.33 and a beta of 1.85. 10x Genomics has a twelve month low of $15.28 and a twelve month high of $57.90.

10x Genomics (NASDAQ:TXG) last issued 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. 10x Genomics had a negative return on equity of 28.23% and a negative net margin of 37.90%. The company had revenue of $153.10 million for the quarter, compared to analyst estimates of $150.90 million. As a group, analysts expect that 10x Genomics will post -1.37 EPS for the current fiscal year.

Insider Transactions at 10x Genomics

In other news, insider Benjamin J. Hindson sold 4,351 shares of 10x Genomics stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $98,028.03. Following the completion of the sale, the insider now directly owns 345,704 shares in the company, valued at $7,788,711.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other 10x Genomics news, insider Benjamin J. Hindson sold 4,351 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 $98,028.03. Following the completion of the sale, the insider now owns 345,704 shares in the company, valued at approximately $7,788,711.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Serge Saxonov sold 6,749 shares of the business’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 directly owns 882,467 shares of the company’s stock, valued at $19,881,981.51. The disclosure for this sale can be found here. Insiders sold a total of 14,061 shares of company stock valued at $316,794 over the last three months. 10.03% of the stock is currently owned by insiders.

Institutional Trading of 10x Genomics

A number of hedge funds and other institutional investors have recently made changes to their positions in TXG. ARK Investment Management LLC grew its holdings in 10x Genomics by 48.2% during the 2nd quarter. ARK Investment Management LLC now owns 9,313,763 shares of the company’s stock worth $181,153,000 after acquiring an additional 3,029,951 shares in the last quarter. Vanguard Group Inc. grew its stake in 10x Genomics by 1.0% in the first quarter. Vanguard Group Inc. now owns 9,101,536 shares of the company’s stock worth $341,581,000 after purchasing an additional 90,204 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in 10x Genomics by 69.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,143,067 shares of the company’s stock valued at $119,483,000 after buying an additional 2,521,289 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in 10x Genomics by 17.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,657,227 shares of the company’s stock valued at $137,257,000 after buying an additional 553,053 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its holdings in 10x Genomics by 58.6% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock worth $135,780,000 after buying an additional 1,338,248 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

10x Genomics Company Profile

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.