10x Genomics (NASDAQ:TXG) Upgraded by Wall Street Zen to Buy Rating

10x Genomics (NASDAQ:TXG - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Thursday.

TXG has been the topic of a number of other research reports. Canaccord Genuity Group dropped their target price on shares of 10x Genomics from $18.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. UBS Group dropped 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 report on Tuesday, May 13th. Leerink Partnrs lowered shares of 10x Genomics from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 13th. The Goldman Sachs Group dropped their target price on shares of 10x Genomics from $7.50 to $6.50 and set a "sell" rating on the stock in a research report on Monday, May 12th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of 10x Genomics in a research report on Saturday, May 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $15.81.

10x Genomics Stock Performance

Shares of 10x Genomics stock traded down $0.02 on Thursday, reaching $8.30. The stock had a trading volume of 625,858 shares, compared to its average volume of 2,375,299. The business's 50-day moving average price is $8.68 and its two-hundred day moving average price is $12.21. 10x Genomics has a fifty-two week low of $6.78 and a fifty-two week high of $24.76. The stock has a market cap of $1.02 billion, a P/E ratio of -5.44 and a beta of 1.94.

10x Genomics (NASDAQ:TXG - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.36) earnings per share for the quarter, topping analysts' consensus estimates of ($0.45) by $0.09. 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. The business had revenue of $154.88 million during the quarter, compared to analysts' expectations of $131.91 million. During the same period in the previous year, the company earned ($0.50) earnings per share. 10x Genomics's revenue for the quarter was down 2.3% on a year-over-year basis. As a group, equities analysts forecast that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Insider Buying and Selling at 10x Genomics

In other news, Director Alan Mateo bought 40,000 shares of 10x Genomics stock in a transaction dated Friday, February 21st. The shares were bought at an average price of $11.14 per share, for a total transaction of $445,600.00. Following the purchase, the director now owns 61,691 shares of the company's stock, valued at approximately $687,237.74. This trade represents a 184.41% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Serge Saxonov sold 5,092 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $56,368.44. Following the completion of the sale, the chief executive officer now owns 879,482 shares in the company, valued at $9,735,865.74. This represents a 0.58% decrease in their position. The disclosure for this sale can be found here. Insiders own 9.39% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Entropy Technologies LP lifted its position in 10x Genomics by 285.6% during the 4th quarter. Entropy Technologies LP now owns 37,595 shares of the company's stock valued at $540,000 after purchasing an additional 27,844 shares during the period. SG Americas Securities LLC lifted its position in 10x Genomics by 209.8% during the 4th quarter. SG Americas Securities LLC now owns 73,046 shares of the company's stock valued at $1,049,000 after purchasing an additional 49,468 shares during the period. Alberta Investment Management Corp acquired a new position in 10x Genomics during the 4th quarter valued at about $3,206,000. China Universal Asset Management Co. Ltd. acquired a new position in 10x Genomics during the 4th quarter valued at about $326,000. Finally, Barclays PLC lifted its position in 10x Genomics by 11.7% during the 3rd quarter. Barclays PLC now owns 602,536 shares of the company's stock valued at $13,605,000 after purchasing an additional 63,079 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.