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

10x Genomics, Inc. (NASDAQ:TXG - Get Free Report) has received an average recommendation of "Hold" from the sixteen research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $15.81.

Several research firms have weighed in on TXG. Wall Street Zen raised 10x Genomics from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Citigroup lowered their price target on 10x Genomics from $20.00 to $15.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Leerink Partners lowered 10x Genomics from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $25.00 to $12.00 in a research report on Thursday, February 13th. JPMorgan Chase & Co. dropped their price objective on 10x Genomics from $12.00 to $9.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Finally, UBS Group reduced their target price on 10x Genomics from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th.

Insider Activity at 10x Genomics

In other 10x Genomics news, CFO Adam Taich sold 4,044 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 331,588 shares in the company, valued at approximately $2,752,180.40. This trade represents a 1.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Serge Saxonov sold 9,343 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total transaction of $77,546.90. Following the completion of the sale, the chief executive officer now owns 1,083,625 shares of the company's stock, valued at approximately $8,994,087.50. This trade represents a 0.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,872 shares of company stock valued at $173,238 in the last three months. Corporate insiders own 9.39% of the company's stock.

Institutional Investors Weigh In On 10x Genomics

Several institutional investors and hedge funds have recently added to or reduced their stakes in TXG. FMR LLC increased its stake in shares of 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 purchasing an additional 86,455 shares during the last quarter. ARK Investment Management LLC increased its stake in shares of 10x Genomics by 7.5% during the 1st quarter. ARK Investment Management LLC now owns 12,845,713 shares of the company's stock worth $112,143,000 after purchasing an additional 901,656 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of 10x Genomics by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 11,118,086 shares of the company's stock worth $97,061,000 after purchasing an additional 184,537 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of 10x Genomics by 235.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,103,768 shares of the company's stock worth $62,016,000 after purchasing an additional 4,987,195 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of 10x Genomics by 434.5% during the 1st quarter. Millennium Management LLC now owns 5,377,492 shares of the company's stock worth $46,946,000 after purchasing an additional 4,371,327 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company's stock.

10x Genomics Stock Up 1.6%

Shares of 10x Genomics stock traded up $0.15 during trading on Friday, reaching $9.49. 4,649,181 shares of the company were exchanged, compared to its average volume of 2,422,342. 10x Genomics has a twelve month low of $6.78 and a twelve month high of $24.76. The business has a 50-day moving average price of $8.46 and a 200-day moving average price of $11.84. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -6.24 and a beta of 1.94.

10x Genomics (NASDAQ:TXG - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.45) by $0.09. 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. The firm had revenue of $154.88 million during the quarter, compared to analysts' expectations of $131.91 million. During the same period in the previous year, the firm earned ($0.50) earnings per share. The company's revenue was down 2.3% on a year-over-year basis. On average, equities research analysts forecast that 10x Genomics will post -1.43 EPS for the current fiscal 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.