10x Genomics, Inc. (NASDAQ:TXG) Receives $20.21 Average Target Price from Analysts

Shares of 10x Genomics, Inc. (NASDAQ:TXG) have received an average rating of “Hold” from the seventeen ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $20.21.

A number of equities research analysts have recently commented on TXG shares. Citigroup reduced their target price on shares of 10x Genomics from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Barclays cut their price objective on shares of 10x Genomics from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Canaccord Genuity Group cut their price objective on shares of 10x Genomics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Stifel Nicolaus cut their price objective on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Leerink Partners cut shares of 10x Genomics from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $25.00 to $12.00 in a research report on Thursday, February 13th.

10x Genomics Stock Down 2.3 %

Shares of NASDAQ TXG opened at $10.51 on Friday. The firm has a 50-day simple moving average of $13.01 and a 200-day simple moving average of $15.75. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -6.91 and a beta of 1.93. 10x Genomics has a 52 week low of $9.27 and a 52 week high of $39.30.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Wednesday, February 12th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.08). 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. As a group, equities research analysts expect that 10x Genomics will post -1.43 EPS for the current year.

Insiders Place Their Bets

In other news, insider Benjamin J. Hindson sold 4,573 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $11.07, for a total value of $50,623.11. Following the completion of the transaction, the insider now owns 335,324 shares of the company’s stock, valued at approximately $3,712,036.68. This trade represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Serge Saxonov sold 5,092 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $56,368.44. Following the completion of the transaction, the chief executive officer now directly owns 879,482 shares of the company’s stock, valued at approximately $9,735,865.74. The trade was a 0.58 % decrease in their position. The disclosure for this sale can be found here. 10.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TXG. FMR LLC raised its holdings in 10x Genomics by 0.6% in the fourth quarter. FMR LLC now owns 13,454,434 shares of the company’s stock valued at $193,206,000 after acquiring an additional 86,455 shares in the last quarter. ARK Investment Management LLC raised its holdings in 10x Genomics by 11.1% in the fourth quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock valued at $171,517,000 after acquiring an additional 1,193,712 shares in the last quarter. RA Capital Management L.P. acquired a new stake in 10x Genomics in the fourth quarter valued at approximately $47,092,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in 10x Genomics by 10.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,116,573 shares of the company’s stock valued at $30,394,000 after acquiring an additional 193,588 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in 10x Genomics in the fourth quarter valued at approximately $26,308,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

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.