10x Genomics (NASDAQ:TXG) Given Average Recommendation of "Hold" by Brokerages

10x Genomics (NASDAQ:TXG - Get Free Report) has been given a consensus recommendation of "Hold" by the fourteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $14.96.

Several equities analysts have recently issued reports on TXG shares. Canaccord Genuity Group cut their price objective on shares of 10x Genomics from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Citigroup dropped their price target on 10x Genomics from $20.00 to $15.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. The Goldman Sachs Group cut 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. Wall Street Zen raised 10x Genomics from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, UBS Group cut their price target on shares of 10x Genomics from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th.

Insider Activity at 10x Genomics

In related news, CEO Serge Saxonov sold 9,343 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 value of $77,546.90. Following the completion of the transaction, the chief executive officer now owns 1,083,625 shares in the company, valued at $8,994,087.50. The trade was a 0.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Adam Taich sold 4,044 shares of the 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 completion of the sale, the chief financial officer now directly owns 331,588 shares in the company, valued at approximately $2,752,180.40. This represents a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,872 shares of company stock valued at $173,238. 9.39% of the stock is owned by company insiders.

Institutional Trading of 10x Genomics

A number of institutional investors have recently bought and sold shares of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position 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 acquiring an additional 4,987,195 shares in the last quarter. Millennium Management LLC increased its stake in 10x Genomics by 434.5% in the first quarter. Millennium Management LLC now owns 5,377,492 shares of the company's stock valued at $46,946,000 after purchasing an additional 4,371,327 shares during the last quarter. RA Capital Management L.P. acquired a new stake in 10x Genomics during the fourth quarter worth approximately $47,092,000. D. E. Shaw & Co. Inc. purchased a new stake in shares of 10x Genomics during the 4th quarter worth approximately $17,499,000. Finally, ARK Investment Management LLC lifted its position in shares of 10x Genomics by 11.1% during the 4th quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company's stock worth $171,517,000 after buying an additional 1,193,712 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

10x Genomics Stock Up 0.3%

Shares of NASDAQ TXG traded up $0.03 during mid-day trading on Tuesday, reaching $11.73. 13,130,505 shares of the company were exchanged, compared to its average volume of 2,694,557. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -9.02 and a beta of 1.99. 10x Genomics has a 1 year low of $6.78 and a 1 year high of $24.76. The firm has a 50-day moving average of $9.29 and a 200 day moving average of $11.26.

10x Genomics (NASDAQ:TXG - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.36) EPS for the quarter, topping analysts' consensus estimates of ($0.45) by $0.09. 10x Genomics had a negative net margin of 25.14% and a negative return on equity of 23.22%. The business had revenue of $154.88 million during the quarter, compared to the consensus estimate of $131.91 million. During the same period in the previous year, the company posted ($0.50) earnings per share. The firm's revenue was down 2.3% on a year-over-year basis. On average, equities analysts forecast that 10x Genomics will post -1.43 earnings per share for the current year.

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.