10x Genomics (NASDAQ:TXG) Given Average Rating of "Hold" by Analysts

10x Genomics (NASDAQ:TXG - Get Free Report) has received a consensus recommendation of "Hold" from the sixteen analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $15.81.

A number of analysts recently issued reports on TXG shares. Weiss Ratings reissued a "sell (e+)" rating on shares of 10x Genomics in a report on Wednesday, June 11th. Barclays lowered their price target on 10x Genomics from $15.00 to $12.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. UBS Group cut their price objective on 10x Genomics from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Wall Street Zen upgraded shares of 10x Genomics from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, Citigroup dropped their target price on shares of 10x Genomics from $20.00 to $15.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th.

10x Genomics Stock Performance

Shares of TXG opened at $10.79 on Tuesday. The stock's 50-day simple moving average is $9.08 and its 200 day simple moving average is $11.29. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of -8.30 and a beta of 1.99. 10x Genomics has a 52-week low of $6.78 and a 52-week high of $24.76.

10x Genomics (NASDAQ:TXG - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.45) by $0.09. The business 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 23.22% and a negative net margin of 25.14%. The firm's quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.50) EPS. On average, research analysts forecast that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 10x Genomics news, CFO Adam Taich sold 4,044 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total transaction of $33,565.20. Following the completion of the sale, the chief financial officer now directly owns 331,588 shares in the company, valued at $2,752,180.40. This represents a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Benjamin J. Hindson sold 7,485 shares of the company's 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 of the company's stock, valued at approximately $3,721,504.20. The trade was a 1.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,872 shares of company stock worth $173,238. Corporate insiders own 10.03% of the company's stock.

Institutional Trading of 10x Genomics

Several institutional investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC raised its stake in shares of 10x Genomics by 24.3% during the first quarter. Voya Investment Management LLC now owns 95,424 shares of the company's stock valued at $833,000 after acquiring an additional 18,635 shares during the last quarter. Rhumbline Advisers raised its stake in shares of 10x Genomics by 11.4% during the first quarter. Rhumbline Advisers now owns 120,490 shares of the company's stock valued at $1,052,000 after acquiring an additional 12,374 shares during the last quarter. Acadian Asset Management LLC raised its stake 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 last quarter. Focus Partners Wealth bought a new position in shares of 10x Genomics during the first quarter valued at about $92,000. Finally, Bayforest Capital Ltd raised its stake in shares of 10x Genomics by 183.4% during the first quarter. Bayforest Capital Ltd now owns 25,558 shares of the company's stock valued at $223,000 after acquiring an additional 16,540 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

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.

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