10x Genomics (NASDAQ:TXG) Downgraded to "Hold" Rating by Wall Street Zen

10x Genomics (NASDAQ:TXG - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

A number of other equities research analysts have also recently weighed in on TXG. The Goldman Sachs Group decreased their price objective on 10x Genomics from $7.50 to $6.50 and set a "sell" rating for the company in a research note on Monday, May 12th. Canaccord Genuity Group decreased their price target on shares of 10x Genomics from $18.00 to $15.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Bank of America raised their price target on shares of 10x Genomics from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Thursday, June 26th. Stephens reiterated an "overweight" rating and set a $14.00 price objective on shares of 10x Genomics in a research note on Thursday, May 15th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of 10x Genomics in a research note on Friday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $14.96.

10x Genomics Stock Up 4.1%

NASDAQ:TXG traded up $0.48 during mid-day trading on Friday, reaching $12.06. The company's stock had a trading volume of 3,510,369 shares, compared to its average volume of 2,704,300. 10x Genomics has a 1 year low of $6.78 and a 1 year high of $24.76. The stock has a fifty day moving average of $9.53 and a 200-day moving average of $11.16. The firm has a market capitalization of $1.48 billion, a PE ratio of -9.28 and a beta of 2.03.

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

Insider Buying and Selling

In other 10x Genomics news, insider Benjamin J. Hindson sold 7,485 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $8.30, for a total transaction of $62,125.50. Following the sale, the insider owned 448,374 shares in the company, valued at approximately $3,721,504.20. The trade was a 1.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Adam Taich sold 4,044 shares of 10x Genomics stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $8.30, for a total value of $33,565.20. Following the sale, the chief financial officer directly owned 331,588 shares of the company's stock, valued at $2,752,180.40. This trade represents a 1.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,872 shares of company stock worth $173,238 in the last 90 days. Insiders own 10.03% of the company's stock.

Institutional Trading of 10x Genomics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Kera Capital Partners Inc. acquired a new stake in shares of 10x Genomics in the second quarter worth $359,000. Goldman Sachs Group Inc. boosted its holdings in 10x Genomics by 163.5% in the first quarter. Goldman Sachs Group Inc. now owns 645,366 shares of the company's stock valued at $5,634,000 after purchasing an additional 400,430 shares during the last quarter. Voya Investment Management LLC grew its position in 10x Genomics by 24.3% during the 1st quarter. Voya Investment Management LLC now owns 95,424 shares of the company's stock worth $833,000 after purchasing an additional 18,635 shares during the period. Rhumbline Advisers grew its position in 10x Genomics by 11.4% during the 1st quarter. Rhumbline Advisers now owns 120,490 shares of the company's stock worth $1,052,000 after purchasing an additional 12,374 shares during the period. Finally, Acadian Asset Management LLC raised its stake in shares of 10x Genomics by 167.7% during the 1st quarter. Acadian Asset Management LLC now owns 406,405 shares of the company's stock valued at $3,543,000 after buying an additional 254,607 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

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.