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10x Genomics (NASDAQ:TXG) Receives "Neutral" Rating from Guggenheim

10x Genomics logo with Medical background

Guggenheim reissued their neutral rating on shares of 10x Genomics (NASDAQ:TXG - Free Report) in a research report released on Tuesday morning, MarketBeat Ratings reports.

Other research analysts have also issued reports about the stock. Bank of America dropped their price objective on shares of 10x Genomics from $45.00 to $36.00 and set a neutral rating for the company in a research note on Wednesday, May 1st. Barclays lowered their target price on shares of 10x Genomics from $55.00 to $45.00 and set an overweight rating for the company in a research note on Wednesday, April 10th. Jefferies Financial Group started coverage on shares of 10x Genomics in a research note on Monday, June 3rd. They set a hold rating and a $24.00 target price for the company. The Goldman Sachs Group lowered their target price on shares of 10x Genomics from $30.00 to $26.00 and set a sell rating for the company in a research note on Wednesday, May 1st. Finally, UBS Group lowered their target price on shares of 10x Genomics from $52.00 to $30.00 and set a neutral rating for the company in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $46.62.

View Our Latest Stock Analysis on 10x Genomics


10x Genomics Stock Performance

Shares of 10x Genomics stock traded down $0.29 on Tuesday, hitting $19.59. 1,694,375 shares of the company traded hands, compared to its average volume of 1,510,719. The business has a 50-day simple moving average of $24.38 and a 200 day simple moving average of $37.68. 10x Genomics has a 52 week low of $19.20 and a 52 week high of $63.57. The stock has a market capitalization of $2.33 billion, a P/E ratio of -8.78 and a beta of 1.87.

10x Genomics (NASDAQ:TXG - Get Free Report) last posted its earnings results on Tuesday, April 30th. The company reported ($0.50) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.50). 10x Genomics had a negative net margin of 42.20% and a negative return on equity of 30.85%. The firm had revenue of $141.01 million during the quarter, compared to analyst estimates of $142.24 million. During the same period last year, the firm posted ($0.44) earnings per share. 10x Genomics's revenue for the quarter was up 5.0% compared to the same quarter last year. Research analysts expect that 10x Genomics will post -1.53 earnings per share for the current year.

Insider Activity

In other news, CEO Serge Saxonov sold 4,877 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total transaction of $118,511.10. Following the transaction, the chief executive officer now owns 889,641 shares in the company, valued at approximately $21,618,276.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other 10x Genomics news, CFO Justin J. Mcanear sold 2,936 shares of the firm's stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $71,344.80. Following the completion of the sale, the chief financial officer now directly owns 146,203 shares of the company's stock, valued at approximately $3,552,732.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Serge Saxonov sold 4,877 shares of the firm's stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $118,511.10. Following the completion of the sale, the chief executive officer now directly owns 889,641 shares of the company's stock, valued at $21,618,276.30. The disclosure for this sale can be found here. Insiders have sold 11,900 shares of company stock worth $289,170 in the last quarter. Corporate insiders own 10.03% of the company's stock.

Hedge Funds Weigh In On 10x Genomics

A number of hedge funds have recently modified their holdings of the business. Westwood Holdings Group Inc. purchased a new position in shares of 10x Genomics during the 1st quarter worth $939,000. Swedbank AB purchased a new position in 10x Genomics during the 1st quarter valued at about $675,000. Jacobs Levy Equity Management Inc. purchased a new position in 10x Genomics during the 1st quarter valued at about $3,647,000. Bellevue Group AG boosted its holdings in 10x Genomics by 5.2% during the 1st quarter. Bellevue Group AG now owns 308,311 shares of the company's stock valued at $11,571,000 after acquiring an additional 15,138 shares during the period. Finally, Bamco Inc. NY boosted its holdings in 10x Genomics by 59.4% during the 1st quarter. Bamco Inc. NY now owns 314,862 shares of the company's stock valued at $11,817,000 after acquiring an additional 117,300 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

10x Genomics Company Profile

(Get Free Report)

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.

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