10x Genomics (NASDAQ:TXG) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Consensus "Hold": 17 analysts rate 10x Genomics with 2 sells, 10 holds and 5 buys, and the average 1‑year target price is $19.46.
• Recent quarter beat estimates—EPS of ($0.13) vs. ($0.19) expected and revenue $166.03M vs. $160.35M—but the company remains unprofitable (negative net margin and ROE) and analysts forecast about ‑1.43 EPS for the year.
• Insiders have been net sellers (46,426 shares sold in the last quarter) while insiders hold 10.03% of stock and institutions own 84.68%, indicating significant institutional backing amid insider reductions.

10x Genomics (NASDAQ:TXG - Get Free Report) has been given an average rating of "Hold" by the seventeen analysts that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $19.4643.

Several research analysts recently weighed in on TXG shares. Leerink Partners dropped their target price on shares of 10x Genomics from $22.00 to $20.00 and set a "market perform" rating for the company in a report on Tuesday, January 27th. Stifel Nicolaus upped their target price on shares of 10x Genomics from $20.00 to $25.00 and gave the stock a "buy" rating in a report on Monday, March 2nd. Barclays upped their target price on shares of 10x Genomics from $22.00 to $30.00 and gave the stock an "overweight" rating in a report on Tuesday, April 14th. UBS Group upped their target price on shares of 10x Genomics from $14.00 to $20.00 and gave the stock a "neutral" rating in a report on Friday, February 20th. Finally, Canaccord Genuity Group set a $22.00 target price on shares of 10x Genomics in a report on Friday, February 13th.

10x Genomics Price Performance

Shares of TXG stock opened at $26.08 on Monday. 10x Genomics has a 1 year low of $7.25 and a 1 year high of $26.45. The firm has a fifty day moving average price of $20.69 and a 200-day moving average price of $18.09. The company has a market cap of $3.33 billion, a price-to-earnings ratio of -74.51 and a beta of 2.17.

10x Genomics (NASDAQ:TXG - Get Free Report) last issued its earnings results on Thursday, February 12th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.06. The company had revenue of $166.03 million during the quarter, compared to the consensus estimate of $160.35 million. 10x Genomics had a negative net margin of 6.77% and a negative return on equity of 6.89%. 10x Genomics's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.40) EPS. Equities research analysts expect that 10x Genomics will post -1.43 EPS for the current year.

Insider Buying and Selling

In related news, CFO Adam Taich sold 8,968 shares of the company's stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $18.58, for a total value of $166,625.44. Following the completion of the transaction, the chief financial officer owned 288,417 shares of the company's stock, valued at approximately $5,358,787.86. This represents a 3.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Benjamin J. Hindson sold 7,826 shares of the company's stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $18.58, for a total transaction of $145,407.08. Following the completion of the transaction, the insider directly owned 424,779 shares of the company's stock, valued at $7,892,393.82. This represents a 1.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 46,426 shares of company stock valued at $902,695. Company insiders own 10.03% of the company's stock.

Institutional Trading of 10x Genomics

Several hedge funds have recently bought and sold shares of TXG. Geneos Wealth Management Inc. purchased a new stake in 10x Genomics in the 4th quarter worth $38,000. Larson Financial Group LLC lifted its stake in 10x Genomics by 164.4% in the 4th quarter. Larson Financial Group LLC now owns 2,364 shares of the company's stock worth $39,000 after purchasing an additional 1,470 shares in the last quarter. True Wealth Design LLC lifted its stake in 10x Genomics by 26.4% in the 3rd quarter. True Wealth Design LLC now owns 4,534 shares of the company's stock worth $53,000 after purchasing an additional 948 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new stake in 10x Genomics in the 3rd quarter worth $56,000. Finally, Van ECK Associates Corp lifted its stake in 10x Genomics by 85.9% in the 4th quarter. Van ECK Associates Corp now owns 3,668 shares of the company's stock worth $60,000 after purchasing an additional 1,695 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company's stock.

About 10x Genomics

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.

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