10x Genomics (NASDAQ:TXG) Research Coverage Started at Leerink Partners

Leerink Partners assumed coverage on shares of 10x Genomics (NASDAQ:TXG) in a report published on Tuesday, Marketbeat reports. The brokerage issued an outperform rating and a $35.00 price target on the stock.

Several other research firms also recently issued reports on TXG. UBS Group lowered 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. Deutsche Bank Aktiengesellschaft cut shares of 10x Genomics from a buy rating to a hold rating and decreased their price target for the company from $55.00 to $25.00 in a research report on Wednesday, July 10th. Bank of America cut their price target on shares of 10x Genomics from $36.00 to $25.00 and set a neutral rating on the stock in a report on Thursday, July 18th. Morgan Stanley lowered their target price on 10x Genomics from $50.00 to $46.00 and set an overweight rating for the company in a research report on Tuesday, August 13th. Finally, Stifel Nicolaus reduced their price target on 10x Genomics from $53.00 to $25.00 and set a buy rating on the stock in a research report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $31.60.

10x Genomics Trading Up 1.2 %

TXG stock opened at $23.14 on Tuesday. The firm has a 50-day moving average price of $20.15 and a 200-day moving average price of $27.20. 10x Genomics has a 12 month low of $15.28 and a 12 month high of $57.90. The stock has a market capitalization of $2.79 billion, a P/E ratio of -10.38 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.15. 10x Genomics had a negative net margin of 37.90% and a negative return on equity of 28.23%. The business had revenue of $153.10 million during the quarter, compared to analysts’ expectations of $150.90 million. As a group, equities analysts predict that 10x Genomics will post -1.37 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, 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 transaction, the chief executive officer now owns 882,467 shares in the company, valued at approximately $19,881,981.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 10x Genomics news, insider Benjamin J. Hindson sold 4,351 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $98,028.03. Following the transaction, the insider now owns 345,704 shares in the company, valued at $7,788,711.12. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Serge Saxonov sold 6,749 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $152,054.97. Following the sale, the chief executive officer now owns 882,467 shares of the company’s stock, valued at approximately $19,881,981.51. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,061 shares of company stock worth $316,794. 10.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On 10x Genomics

Several hedge funds and other institutional investors have recently made changes to their positions in TXG. Allspring Global Investments Holdings LLC boosted its position in shares of 10x Genomics by 113.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock valued at $26,000 after buying an additional 371 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in 10x Genomics by 74.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock valued at $37,000 after acquiring an additional 808 shares in the last quarter. Covestor Ltd lifted its stake in 10x Genomics by 501.7% during the 1st quarter. Covestor Ltd now owns 1,047 shares of the company’s stock valued at $39,000 after acquiring an additional 873 shares in the last quarter. Headlands Technologies LLC purchased a new position in 10x Genomics during the 1st quarter worth $71,000. Finally, Van ECK Associates Corp grew its stake in shares of 10x Genomics by 23.4% in the 4th quarter. Van ECK Associates Corp now owns 1,908 shares of the company’s stock worth $107,000 after acquiring an additional 362 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

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.