10x Genomics (NASDAQ:TXG) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded 10x Genomics from “hold” to “buy.” Despite the upgrade, MarketBeat’s analyst consensus remains “hold,” with an average price target of $68.40.
• The company reported quarterly revenue of $150.67 million and a loss of $0.15 per share, beating analysts’ estimates on both measures. Revenue increased 1.1% year over year.
• Shares opened at $58.19, while the stock’s 52-week range was $15.12 to $102.81. Insiders sold 190,333 shares valued at about $12.6 million during the last quarter.

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

Other analysts have also issued reports about the stock. Canaccord Genuity Group upped their price target on shares of 10x Genomics from $60.00 to $100.00 and gave the stock a "buy" rating in a research note on Monday, October 12th. Citigroup raised their price objective on shares of 10x Genomics from $50.00 to $60.00 and gave the company a "hold" rating in a research note on Friday, November 6th. Barclays dropped their target price on 10x Genomics from $110.00 to $70.00 and set an "overweight" rating on the stock in a report on Monday, November 9th. Stifel Nicolaus boosted their target price on 10x Genomics from $50.00 to $68.00 and gave the stock a "buy" rating in a report on Friday, November 6th. Finally, TD Cowen upped their target price on 10x Genomics from $47.00 to $70.00 and gave the stock a "hold" rating in a research report on Tuesday, October 13th. Five investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $68.40.

10x Genomics Stock Performance

Shares of TXG opened at $58.19 on Friday. 10x Genomics has a one year low of $15.12 and a one year high of $102.81. The stock's fifty day moving average is $73.92 and its 200-day moving average is $42.57. The firm has a market capitalization of $7.58 billion, a price-to-earnings ratio of -111.90 and a beta of 2.03.

10x Genomics (NASDAQ:TXG - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.12. The business had revenue of $150.67 million during the quarter, compared to the consensus estimate of $147.96 million. 10x Genomics had a negative net margin of 10.84% and a negative return on equity of 8.19%. The company's quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.22) earnings per share. Analysts forecast that 10x Genomics will post -0.74 EPS for the current fiscal year.

Insider Transactions at 10x Genomics

In other 10x Genomics news, Director John Stuelpnagel sold 20,000 shares of the business's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $61.75, for a total value of $1,235,000.00. Following the sale, the director directly owned 328,436 shares in the company, valued at approximately $20,280,923. The trade was a 5.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shehnaaz Suliman sold 5,723 shares of the company's stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $81.19, for a total transaction of $464,650.37. Following the completion of the sale, the director directly owned 23,792 shares of the company's stock, valued at $1,931,672.48. The trade was a 19.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 190,333 shares of company stock valued at $12,604,970 in the last quarter. 8.84% of the stock is owned by company insiders.

Institutional Trading of 10x Genomics

Several institutional investors and hedge funds have recently added to or reduced their stakes in TXG. Sei Investments Co. increased its holdings in shares of 10x Genomics by 113.5% in the first quarter. Sei Investments Co. now owns 44,679 shares of the company's stock valued at $949,000 after buying an additional 23,748 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of 10x Genomics during the 2nd quarter worth $2,069,000. HB Wealth Management LLC bought a new stake in shares of 10x Genomics during the 2nd quarter worth $285,000. Proficio Capital Partners LLC bought a new stake in shares of 10x Genomics during the 2nd quarter worth $781,000. Finally, Hsbc Holdings PLC acquired a new position in shares of 10x Genomics in the 1st quarter worth $5,945,000. 84.68% of the stock is owned by institutional investors and hedge funds.

About 10x Genomics

10x Genomics, Inc. develops technology for studying biological systems at single-cell and spatial resolution. Its instruments, consumables and software help researchers analyze gene expression and other features of cells while preserving information about their location within tissue. The company's product platforms include Chromium for single-cell analysis, Visium for spatial gene-expression analysis and Xenium for in situ analysis of gene activity within tissue samples. Its tools are used in areas such as immunology, neuroscience, cancer research and drug discovery.

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