10x Genomics (NASDAQ:TXG) Receives $13.54 Consensus Target Price from Analysts

Key Points

• Brokerages have given 10x Genomics (NASDAQ:TXG) an average recommendation of "Hold", with one sell, six hold, and six buy ratings among the thirteen analysts covering the stock.
• 10x Genomics reported a quarterly revenue of $172.91 million, surpassing the consensus estimate of $139.36 million, and recorded an earnings per share of $0.28, beating the estimated loss.
• Insiders of 10x Genomics have sold a total of 20,872 shares worth approximately $173,238 over the past ninety days, indicating potential concerns among company executives.

Shares of 10x Genomics (NASDAQ:TXG - Get Free Report) have earned an average rating of "Hold" from the thirteen research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $13.5417.

Several brokerages have weighed in on TXG. Wall Street Zen raised shares of 10x Genomics from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Stephens reaffirmed an "overweight" rating and set a $14.00 price objective on shares of 10x Genomics in a research note on Thursday, May 15th. JPMorgan Chase & Co. decreased their price objective on shares of 10x Genomics from $12.00 to $9.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. The Goldman Sachs Group decreased their price objective on shares of 10x Genomics from $7.50 to $6.50 and set a "sell" rating on the stock in a research note on Monday, May 12th. Finally, Barclays reaffirmed an "overweight" rating and set a $15.00 price objective (up from $13.00) on shares of 10x Genomics in a research note on Friday, August 8th.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TXG. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of 10x Genomics by 235.6% in 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 valued at $62,016,000 after acquiring an additional 4,987,195 shares during the period. Millennium Management LLC grew its position in shares of 10x Genomics by 434.5% in the 1st quarter. Millennium Management LLC now owns 5,377,492 shares of the company's stock valued at $46,946,000 after acquiring an additional 4,371,327 shares during the period. RA Capital Management L.P. bought a new position in shares of 10x Genomics in the 4th quarter valued at about $47,092,000. Quantinno Capital Management LP grew its position in shares of 10x Genomics by 207.2% in the 2nd quarter. Quantinno Capital Management LP now owns 2,233,526 shares of the company's stock valued at $25,864,000 after acquiring an additional 1,506,530 shares during the period. Finally, D. E. Shaw & Co. Inc. bought a new position in shares of 10x Genomics in the 4th quarter valued at about $17,499,000. Institutional investors own 84.68% of the company's stock.

10x Genomics Stock Performance

NASDAQ:TXG traded down $0.33 during mid-day trading on Wednesday, hitting $13.24. The company's stock had a trading volume of 5,590,175 shares, compared to its average volume of 3,415,502. 10x Genomics has a fifty-two week low of $6.78 and a fifty-two week high of $24.76. The stock has a fifty day moving average of $12.13 and a 200-day moving average of $10.74.

10x Genomics (NASDAQ:TXG - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.63. 10x Genomics had a negative net margin of 13.13% and a negative return on equity of 12.88%. The firm had revenue of $172.91 million during the quarter, compared to analyst estimates of $139.36 million. During the same quarter in the prior year, the business posted ($0.32) earnings per share. The company's quarterly revenue was up 12.9% compared to the same quarter last year. Research analysts anticipate that 10x Genomics will post -1.43 earnings per share 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.