10x Genomics (NASDAQ:TXG) Upgraded to Strong-Buy at Leerink Partnrs

Leerink Partnrs upgraded shares of 10x Genomics (NASDAQ:TXG) to a strong-buy rating in a report issued on Tuesday morning, Zacks.com reports. Leerink Partnrs also issued estimates for 10x Genomics’ Q3 2024 earnings at ($0.27) EPS, Q4 2024 earnings at ($0.15) EPS, FY2024 earnings at ($1.24) EPS, Q1 2025 earnings at ($0.29) EPS, Q2 2025 earnings at ($0.22) EPS, Q3 2025 earnings at ($0.16) EPS, Q4 2025 earnings at ($0.02) EPS, FY2025 earnings at ($0.69) EPS and FY2026 earnings at ($0.38) EPS.

Other research analysts have also issued research reports about the stock. UBS Group lowered their price objective on shares of 10x Genomics from $30.00 to $25.00 and set a neutral rating on the stock in a research note on Tuesday, August 13th. Stifel Nicolaus lowered their price objective on shares of 10x Genomics from $53.00 to $25.00 and set a buy rating on the stock in a research note on Tuesday, July 16th. Jefferies Financial Group upgraded shares of 10x Genomics from a hold rating to a buy rating and set a $24.00 price objective on the stock in a research note on Monday, July 22nd. JPMorgan Chase & Co. lowered shares of 10x Genomics from an overweight rating to a neutral rating and decreased their price target for the stock from $40.00 to $20.00 in a research report on Thursday, July 18th. Finally, The Goldman Sachs Group decreased their price target on shares of 10x Genomics from $26.00 to $16.00 and set a sell rating on the stock in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $31.60.

10x Genomics Trading Up 1.2 %

TXG opened at $23.14 on Tuesday. The business’s 50 day moving average is $20.15 and its 200-day moving average is $27.20. The stock has a market cap of $2.79 billion, a PE ratio of -10.38 and a beta of 1.85. 10x Genomics has a twelve month low of $15.28 and a twelve month high of $57.90.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.15. 10x Genomics had a negative net margin of 37.90% and a negative return on equity of 28.23%. The business had revenue of $153.10 million for the quarter, compared to analyst estimates of $150.90 million. As a group, analysts forecast that 10x Genomics will post -1.37 EPS for the current year.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 6,749 shares of 10x Genomics stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $152,054.97. Following the completion of the sale, the chief executive officer now owns 882,467 shares of the company’s stock, valued at approximately $19,881,981.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Serge Saxonov sold 6,749 shares of 10x Genomics stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $152,054.97. Following the completion of the sale, the chief executive officer now owns 882,467 shares of the company’s stock, valued at approximately $19,881,981.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Justin J. Mcanear sold 2,961 shares of 10x Genomics stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $66,711.33. Following the completion of the sale, the chief financial officer now directly owns 143,242 shares of the company’s stock, valued at approximately $3,227,242.26. The disclosure for this sale can be found here. Insiders sold 14,061 shares of company stock valued at $316,794 in the last quarter. Company insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp lifted its position in 10x Genomics by 23.4% during the 4th quarter. Van ECK Associates Corp now owns 1,908 shares of the company’s stock worth $107,000 after acquiring an additional 362 shares during the last quarter. Victory Capital Management Inc. lifted its position in 10x Genomics by 24.6% during the 4th quarter. Victory Capital Management Inc. now owns 12,738 shares of the company’s stock worth $713,000 after acquiring an additional 2,515 shares during the last quarter. New York Life Investment Management LLC acquired a new position in 10x Genomics during the 4th quarter worth $626,000. M&T Bank Corp acquired a new position in 10x Genomics during the 4th quarter worth $252,000. Finally, Charles Schwab Investment Management Inc. lifted its position in 10x Genomics by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 924,832 shares of the company’s stock worth $51,754,000 after acquiring an additional 32,709 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.