10x Genomics (NASDAQ:TXG) Given "Overweight" Rating at Barclays

10x Genomics (NASDAQ:TXG - Get Free Report)'s stock had its "overweight" rating reissued by analysts at Barclays in a research note issued on Tuesday, Marketbeat Ratings reports. They currently have a $13.00 price target on the stock, up from their prior price target of $12.00. Barclays's target price would indicate a potential upside of 10.94% from the company's previous close.

Several other equities research analysts have also recently issued reports on the stock. UBS Group lowered their target price on shares of 10x Genomics from $14.00 to $12.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Canaccord Genuity Group dropped their price objective on shares of 10x Genomics from $18.00 to $15.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Weiss Ratings reiterated a "sell (e+)" rating on shares of 10x Genomics in a report on Wednesday, June 11th. Citigroup dropped their price target on 10x Genomics from $20.00 to $15.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. Finally, The Goldman Sachs Group cut their price target on 10x Genomics from $7.50 to $6.50 and set a "sell" rating for the company in a report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $14.96.

10x Genomics Stock Performance

Shares of TXG stock traded up $0.02 on Tuesday, reaching $11.72. 2,215,368 shares of the company were exchanged, compared to its average volume of 2,634,291. 10x Genomics has a 1 year low of $6.78 and a 1 year high of $24.76. The business has a 50-day moving average price of $9.29 and a 200 day moving average price of $11.26. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -9.02 and a beta of 1.99.

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

Insider Transactions at 10x Genomics

In other 10x Genomics news, insider Benjamin J. Hindson sold 7,485 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $8.30, for a total transaction of $62,125.50. Following the transaction, the insider now directly owns 448,374 shares in the company, valued at $3,721,504.20. This 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 available at the SEC website. Also, CEO Serge Saxonov sold 9,343 shares of 10x Genomics stock in a transaction 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 sale, the chief executive officer now directly owns 1,083,625 shares of the company's stock, valued at $8,994,087.50. The trade was a 0.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,872 shares of company stock worth $173,238. 9.39% of the stock is currently owned by company insiders.

Institutional Trading of 10x Genomics

A number of institutional investors and hedge funds have recently bought and sold shares of TXG. FMR LLC boosted its stake in shares of 10x Genomics by 0.6% in the fourth quarter. FMR LLC now owns 13,454,434 shares of the company's stock valued at $193,206,000 after purchasing an additional 86,455 shares during the period. ARK Investment Management LLC lifted its holdings in 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 buying an additional 901,656 shares in the last quarter. Vanguard Group Inc. boosted its position in 10x Genomics by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 11,118,086 shares of the company's stock valued at $97,061,000 after buying an additional 184,537 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in 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 buying an additional 4,987,195 shares during the period. Finally, Millennium Management LLC grew its stake in shares of 10x Genomics by 434.5% in the first quarter. Millennium Management LLC now owns 5,377,492 shares of the company's stock worth $46,946,000 after acquiring an additional 4,371,327 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

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.