10x Genomics, Inc. (NASDAQ:TXG) Given Consensus Rating of “Moderate Buy” by Analysts

10x Genomics, Inc. (NASDAQ:TXG) has been given a consensus recommendation of “Moderate Buy” by the sixteen analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $30.60.

TXG has been the subject of several research analyst reports. Stephens reaffirmed an “overweight” rating and issued a $30.00 target price on shares of 10x Genomics in a research report on Thursday, October 10th. The Goldman Sachs Group cut their price objective on 10x Genomics from $26.00 to $16.00 and set a “sell” rating on the stock in a research report on Tuesday, July 9th. Bank of America decreased their target price on 10x Genomics from $36.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, July 18th. Wolfe Research restated a “peer perform” rating on shares of 10x Genomics in a research report on Thursday, June 27th. Finally, Morgan Stanley reduced their price target on 10x Genomics from $50.00 to $46.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th.

10x Genomics Price Performance

TXG opened at $15.37 on Thursday. 10x Genomics has a one year low of $14.02 and a one year high of $57.90. The business has a 50 day simple moving average of $21.00 and a two-hundred day simple moving average of $22.39. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -7.61 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 analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $150.90 million. As a group, sell-side analysts expect that 10x Genomics will post -1.35 EPS for the current fiscal year.

Insider Transactions at 10x Genomics

In related news, insider Benjamin J. Hindson sold 4,351 shares of the firm’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 transaction of $98,028.03. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Benjamin J. Hindson sold 4,351 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $98,028.03. Following the transaction, the insider now directly owns 345,704 shares of the company’s stock, valued at $7,788,711.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Justin J. Mcanear sold 2,961 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 $66,711.33. Following the completion of the sale, the chief financial officer now owns 143,242 shares of the company’s stock, valued at $3,227,242.26. The trade was 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 have sold 14,061 shares of company stock worth $316,794. Corporate insiders own 10.03% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. ARK Investment Management LLC grew its position in 10x Genomics by 48.2% in the 2nd quarter. ARK Investment Management LLC now owns 9,313,763 shares of the company’s stock worth $181,153,000 after purchasing an additional 3,029,951 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of 10x Genomics by 69.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,143,067 shares of the company’s stock worth $119,483,000 after buying an additional 2,521,289 shares during the last quarter. Nikko Asset Management Americas Inc. increased its position in 10x Genomics by 58.6% during the first quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock valued at $135,780,000 after acquiring an additional 1,338,248 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new position in 10x Genomics in the second quarter valued at about $11,612,000. Finally, Price T Rowe Associates Inc. MD boosted its position 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 worth $137,257,000 after purchasing an additional 553,053 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other 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.