10x Genomics, Inc. (NASDAQ:TXG) Receives Consensus Recommendation of "Hold" from Brokerages

Shares of 10x Genomics, Inc. (NASDAQ:TXG - Get Free Report) have been given a consensus rating of "Hold" by the sixteen research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $15.81.

A number of research firms recently commented on TXG. The Goldman Sachs Group decreased their price objective on 10x Genomics from $7.50 to $6.50 and set a "sell" rating on the stock in a report on Monday, May 12th. Canaccord Genuity Group cut their price objective on 10x Genomics from $18.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Leerink Partners lowered 10x Genomics from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $25.00 to $12.00 in a report on Thursday, February 13th. Barclays dropped their target price on 10x Genomics from $15.00 to $12.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Finally, Morgan Stanley decreased their price objective on shares of 10x Genomics from $26.00 to $18.00 and set an "overweight" rating for the company in a research note on Monday, May 19th.

Insider Activity at 10x Genomics

In other news, insider Benjamin J. Hindson sold 7,485 shares of 10x Genomics stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total transaction of $62,125.50. Following the completion of the sale, the insider now directly owns 448,374 shares in the company, valued at approximately $3,721,504.20. This trade represents a 1.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Adam Taich sold 4,044 shares of 10x Genomics stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total transaction of $33,565.20. Following the sale, the chief financial officer now owns 331,588 shares of the company's stock, valued at approximately $2,752,180.40. The trade was a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,872 shares of company stock worth $173,238 over the last 90 days. Company insiders own 9.39% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Atria Wealth Solutions Inc. increased its stake in shares of 10x Genomics by 9.6% during the 4th quarter. Atria Wealth Solutions Inc. now owns 10,788 shares of the company's stock worth $155,000 after purchasing an additional 943 shares in the last quarter. Blue Trust Inc. increased its stake in shares of 10x Genomics by 73.1% during the 4th quarter. Blue Trust Inc. now owns 3,075 shares of the company's stock worth $44,000 after purchasing an additional 1,299 shares in the last quarter. Signaturefd LLC increased its stake in shares of 10x Genomics by 424.6% during the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company's stock worth $26,000 after purchasing an additional 1,452 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of 10x Genomics by 81.8% during the 1st quarter. GAMMA Investing LLC now owns 3,586 shares of the company's stock worth $31,000 after purchasing an additional 1,614 shares in the last quarter. Finally, Xponance Inc. increased its stake in shares of 10x Genomics by 17.4% during the 1st quarter. Xponance Inc. now owns 12,010 shares of the company's stock worth $105,000 after purchasing an additional 1,778 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

10x Genomics Stock Performance

Shares of 10x Genomics stock traded down $0.34 on Friday, hitting $9.11. The company's stock had a trading volume of 4,341,540 shares, compared to its average volume of 2,450,724. 10x Genomics has a 1 year low of $6.78 and a 1 year high of $24.76. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -5.99 and a beta of 1.94. The firm has a fifty day moving average price of $8.45 and a 200-day moving average price of $11.76.

10x Genomics (NASDAQ:TXG - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $154.88 million for the quarter, compared to analysts' expectations of $131.91 million. 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. 10x Genomics's revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.50) EPS. As a group, analysts forecast that 10x Genomics will post -1.43 EPS for the current year.

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.