10x Genomics, Inc. (NASDAQ:TXG) Receives $48.50 Average PT from Analysts

10x Genomics, Inc. (NASDAQ:TXGGet Free Report) has received an average rating of “Moderate Buy” from the twelve analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $48.50.

A number of research analysts have recently issued reports on TXG shares. Barclays dropped their price objective on 10x Genomics from $55.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. UBS Group cut their price objective on 10x Genomics from $52.00 to $30.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Bank of America decreased their target price on 10x Genomics from $45.00 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Canaccord Genuity Group cut their price target on shares of 10x Genomics from $65.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, April 29th. Finally, The Goldman Sachs Group decreased their price objective on shares of 10x Genomics from $30.00 to $26.00 and set a “sell” rating for the company in a report on Wednesday, May 1st.

Check Out Our Latest Research Report on TXG

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 4,660 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $44.00, for a total value of $205,040.00. Following the completion of the sale, the chief executive officer now directly owns 842,900 shares of the company’s stock, valued at $37,087,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other 10x Genomics news, insider Benjamin J. Hindson sold 4,087 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total transaction of $99,314.10. Following the completion of the sale, the insider now owns 350,055 shares of the company’s stock, valued at approximately $8,506,336.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Serge Saxonov sold 4,660 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $44.00, for a total transaction of $205,040.00. Following the completion of the transaction, the chief executive officer now owns 842,900 shares in the company, valued at approximately $37,087,600. The disclosure for this sale can be found here. Insiders have sold 16,560 shares of company stock worth $494,210 over the last ninety days. Insiders own 10.03% of the company’s stock.

Hedge Funds Weigh In On 10x Genomics

Hedge funds and other institutional investors have recently made changes to their positions in the business. SVB Wealth LLC raised its position in shares of 10x Genomics by 92.1% in the 4th quarter. SVB Wealth LLC now owns 1,446,552 shares of the company’s stock worth $80,949,000 after acquiring an additional 693,422 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of 10x Genomics by 32.9% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,283,530 shares of the company’s stock worth $127,786,000 after acquiring an additional 565,059 shares in the last quarter. Bleakley Financial Group LLC purchased a new position in 10x Genomics during the 4th quarter valued at about $234,000. ARK Investment Management LLC boosted its stake in 10x Genomics by 35.0% during the fourth quarter. ARK Investment Management LLC now owns 4,041,287 shares of the company’s stock worth $226,150,000 after acquiring an additional 1,047,827 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in 10x Genomics by 4.2% in the third quarter. Vanguard Group Inc. now owns 8,903,517 shares of the company’s stock worth $367,270,000 after purchasing an additional 354,921 shares during the period. Institutional investors own 84.68% of the company’s stock.

10x Genomics Trading Down 1.6 %

NASDAQ:TXG opened at $22.59 on Monday. The stock has a 50-day moving average price of $30.74 and a two-hundred day moving average price of $40.77. 10x Genomics has a 1 year low of $22.50 and a 1 year high of $63.57. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of -10.13 and a beta of 1.94.

10x Genomics (NASDAQ:TXGGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.50) EPS for the quarter, meeting the consensus estimate of ($0.50). The firm had revenue of $141.01 million during the quarter, compared to analysts’ expectations of $142.24 million. 10x Genomics had a negative return on equity of 30.85% and a negative net margin of 42.20%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.44) earnings per share. Sell-side analysts forecast that 10x Genomics will post -1.55 earnings per share for the current year.

10x Genomics Company Profile

(Get Free Report

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.

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Analyst Recommendations for 10x Genomics (NASDAQ:TXG)

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