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

Shares of 10x Genomics, Inc. (NASDAQ:TXG) have been assigned a consensus recommendation of “Hold” from the seventeen ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $19.79.

Several analysts have recently weighed in on the company. Leerink Partners lowered 10x Genomics from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $25.00 to $12.00 in a report on Thursday, February 13th. Citigroup decreased their price target on shares of 10x Genomics from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Morgan Stanley dropped their price target on shares of 10x Genomics from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. UBS Group dropped their target price on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Finally, Stifel Nicolaus dropped their price objective on 10x Genomics from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 13th.

10x Genomics Trading Up 4.0 %

Shares of 10x Genomics stock opened at $8.01 on Thursday. The company has a market cap of $979.64 million, a price-to-earnings ratio of -5.27 and a beta of 2.01. 10x Genomics has a 1 year low of $6.78 and a 1 year high of $36.15. The company’s fifty day simple moving average is $10.44 and its 200-day simple moving average is $13.96.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.08). 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. As a group, research analysts forecast that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Alan Mateo purchased 40,000 shares of 10x Genomics stock in a transaction dated Friday, February 21st. The shares were acquired at an average cost of $11.14 per share, for a total transaction of $445,600.00. Following the transaction, the director now directly owns 61,691 shares of the company’s stock, valued at approximately $687,237.74. This trade represents a 184.41 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Serge Saxonov sold 5,092 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $11.07, for a total value of $56,368.44. Following the completion of the transaction, the chief executive officer now directly owns 879,482 shares in the company, valued at $9,735,865.74. The trade was a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders own 10.03% of the company’s stock.

Hedge Funds Weigh In On 10x Genomics

Several institutional investors have recently modified their holdings of TXG. FMR LLC raised its stake in 10x Genomics by 0.6% during the 4th quarter. FMR LLC now owns 13,454,434 shares of the company’s stock worth $193,206,000 after buying an additional 86,455 shares during the period. ARK Investment Management LLC lifted its holdings in shares of 10x Genomics by 11.1% during the 4th quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock valued at $171,517,000 after purchasing an additional 1,193,712 shares in the last quarter. RA Capital Management L.P. bought a new position in shares of 10x Genomics during the 4th quarter valued at about $47,092,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in 10x Genomics by 10.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,116,573 shares of the company’s stock worth $30,394,000 after purchasing an additional 193,588 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in 10x Genomics during the 4th quarter worth approximately $26,308,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

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.