Stephens Reaffirms Overweight Rating for 10x Genomics (NASDAQ:TXG)

Stephens restated their overweight rating on shares of 10x Genomics (NASDAQ:TXG) in a research report released on Thursday, Benzinga reports. The firm currently has a $30.00 price target on the stock.

Several other analysts also recently commented on TXG. Stifel Nicolaus reduced their price objective on shares of 10x Genomics from $53.00 to $25.00 and set a buy rating for the company in a research report on Tuesday, July 16th. JPMorgan Chase & Co. downgraded shares of 10x Genomics from an overweight rating to a neutral rating and decreased their price target for the company from $40.00 to $20.00 in a research note on Thursday, July 18th. Deutsche Bank Aktiengesellschaft cut shares of 10x Genomics from a buy rating to a hold rating and cut their price objective for the stock from $55.00 to $25.00 in a research report on Wednesday, July 10th. Barclays reduced their target price on 10x Genomics from $36.00 to $24.00 and set an overweight rating for the company in a research note on Friday, June 28th. Finally, Wolfe Research reaffirmed a peer perform rating on shares of 10x Genomics in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $30.80.

10x Genomics Trading Up 3.8 %

Shares of TXG opened at $16.26 on Thursday. The firm’s fifty day simple moving average is $21.43 and its two-hundred day simple moving average is $23.28. 10x Genomics has a 12 month low of $14.02 and a 12 month high of $57.90. The stock has a market capitalization of $1.96 billion, a P/E ratio of -8.05 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last announced its earnings results 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, research analysts predict that 10x Genomics will post -1.32 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Benjamin J. Hindson sold 4,351 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were 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 $7,788,711.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other 10x Genomics news, insider Benjamin J. Hindson sold 4,351 shares of 10x Genomics stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $98,028.03. Following the transaction, the insider now owns 345,704 shares of the company’s stock, valued at $7,788,711.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Justin J. Mcanear sold 2,961 shares of the company’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 $66,711.33. Following the completion of the transaction, the chief financial officer now directly owns 143,242 shares of the company’s stock, valued at approximately $3,227,242.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, 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

Hedge funds have recently made changes to their positions in the business. ARK Investment Management LLC increased its holdings in 10x Genomics by 48.2% during the second quarter. ARK Investment Management LLC now owns 9,313,763 shares of the company’s stock worth $181,153,000 after buying an additional 3,029,951 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of 10x Genomics by 69.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,143,067 shares of the company’s stock worth $119,483,000 after purchasing an additional 2,521,289 shares during the last quarter. Nikko Asset Management Americas Inc. raised its holdings in shares of 10x Genomics by 58.6% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock worth $135,780,000 after purchasing an additional 1,338,248 shares during the period. Deerfield Management Company L.P. Series C bought a new stake in shares of 10x Genomics in the 2nd quarter worth approximately $11,612,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in 10x Genomics by 17.8% in 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 purchasing an additional 553,053 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

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.