10x Genomics’ (TXG) Overweight Rating Reaffirmed at Barclays

10x Genomics (NASDAQ:TXG)‘s stock had its “overweight” rating reiterated by investment analysts at Barclays in a research note issued on Tuesday, Marketbeat reports. They presently have a $13.00 price objective on the stock, up from their prior price objective of $12.00. Barclays‘s target price would suggest a potential upside of 8.12% from the stock’s previous close.

TXG has been the topic of a number of other research reports. Morgan Stanley dropped their price target on shares of 10x Genomics from $26.00 to $18.00 and set an “overweight” rating on the stock in a research report on Monday, May 19th. Wall Street Zen upgraded shares of 10x Genomics from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd. The Goldman Sachs Group decreased their price target on shares of 10x Genomics from $7.50 to $6.50 and set a “sell” rating for the company in a report on Monday, May 12th. Stephens reiterated an “overweight” rating and issued a $14.00 price objective on shares of 10x Genomics in a research note on Thursday, May 15th. Finally, Canaccord Genuity Group cut their price objective on 10x Genomics from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, 10x Genomics currently has a consensus rating of “Hold” and an average target price of $15.88.

10x Genomics Price Performance

Shares of TXG stock traded up $0.36 on Tuesday, hitting $12.02. The company’s stock had a trading volume of 1,088,653 shares, compared to its average volume of 3,337,846. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -9.25 and a beta of 1.99. 10x Genomics has a fifty-two week low of $6.78 and a fifty-two week high of $24.76. The firm’s fifty day moving average price is $9.20 and its 200-day moving average price is $11.29.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.09. 10x Genomics had a negative return on equity of 23.22% and a negative net margin of 25.14%. The company had revenue of $154.88 million during the quarter, compared to the consensus estimate of $131.91 million. During the same quarter in the prior year, the company posted ($0.50) EPS. The firm’s revenue was down 2.3% on a year-over-year basis. Analysts predict that 10x Genomics will post -1.43 EPS for the current fiscal year.

Insider Transactions at 10x Genomics

In other news, CFO Adam Taich sold 4,044 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total value of $33,565.20. Following the completion of the transaction, the chief financial officer now owns 331,588 shares in the company, valued at approximately $2,752,180.40. This represents a 1.20% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Benjamin J. Hindson sold 7,485 shares of 10x Genomics stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total transaction of $62,125.50. Following the sale, the insider now owns 448,374 shares in the company, valued at approximately $3,721,504.20. This trade represents a 1.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,872 shares of company stock valued at $173,238. 9.39% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On 10x Genomics

A number of institutional investors have recently added to or reduced their stakes in TXG. Voya Investment Management LLC lifted its position in shares of 10x Genomics by 24.3% during the 1st quarter. Voya Investment Management LLC now owns 95,424 shares of the company’s stock worth $833,000 after buying an additional 18,635 shares during the period. Rhumbline Advisers raised its stake in 10x Genomics by 11.4% during the first quarter. Rhumbline Advisers now owns 120,490 shares of the company’s stock worth $1,052,000 after acquiring an additional 12,374 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of 10x Genomics by 167.7% during the first quarter. Acadian Asset Management LLC now owns 406,405 shares of the company’s stock valued at $3,543,000 after acquiring an additional 254,607 shares during the period. Focus Partners Wealth bought a new position in 10x Genomics during the 1st quarter valued at about $92,000. Finally, Bayforest Capital Ltd lifted its holdings in 10x Genomics by 183.4% during the 1st quarter. Bayforest Capital Ltd now owns 25,558 shares of the company’s stock valued at $223,000 after purchasing an additional 16,540 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

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.