10x Genomics, Inc. (NASDAQ:TXG) Receives $18.85 Average PT from Analysts

10x Genomics, Inc. (NASDAQ:TXG - Get Free Report) has been assigned an average rating of "Hold" from the sixteen brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $18.85.

A number of research analysts have commented on the stock. Leerink Partnrs lowered shares of 10x Genomics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. cut their price target on 10x Genomics from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Morgan Stanley lowered their price objective on shares of 10x Genomics from $28.00 to $26.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Stifel Nicolaus cut their price objective on shares of 10x Genomics from $21.00 to $18.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Finally, Barclays lowered their target price on shares of 10x Genomics from $15.00 to $12.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th.

10x Genomics Trading Up 2.9 %

NASDAQ:TXG traded up $0.25 during midday trading on Monday, hitting $8.88. 2,272,861 shares of the company were exchanged, compared to its average volume of 2,300,905. 10x Genomics has a fifty-two week low of $6.78 and a fifty-two week high of $28.25. The company has a market capitalization of $1.09 billion, a PE ratio of -5.84 and a beta of 1.94. The company has a fifty day simple moving average of $8.98 and a 200 day simple moving average of $12.62.

10x Genomics (NASDAQ:TXG - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) 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, equities research analysts expect that 10x Genomics will post -1.43 EPS for the current year.

Insider Buying and Selling

In other 10x Genomics news, Director Alan Mateo acquired 40,000 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were acquired at an average price of $11.14 per share, for a total transaction of $445,600.00. Following the completion of the acquisition, the director now directly owns 61,691 shares of the company's stock, valued at $687,237.74. This trade represents a 184.41 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Serge Saxonov sold 5,092 shares of the company's stock in a transaction on 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 owns 879,482 shares of the company's stock, valued at $9,735,865.74. The trade was a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.03% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Signaturefd LLC grew its holdings in 10x Genomics by 424.6% in the fourth quarter. Signaturefd LLC now owns 1,794 shares of the company's stock valued at $26,000 after purchasing an additional 1,452 shares during the period. GAMMA Investing LLC increased its holdings 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 buying an additional 1,614 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of 10x Genomics in the 4th quarter worth $32,000. Whittier Trust Co. acquired a new position in 10x Genomics in the first quarter valued at $41,000. Finally, Blue Trust Inc. grew its position in 10x Genomics by 73.1% during the fourth quarter. Blue Trust Inc. now owns 3,075 shares of the company's stock valued at $44,000 after acquiring an additional 1,299 shares during the period. Institutional investors and hedge funds own 84.68% of the company's stock.

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.