10x Genomics’ (TXG) “Overweight” Rating Reiterated at Stephens

Stephens reaffirmed their overweight rating on shares of 10x Genomics (NASDAQ:TXG) in a research report released on Thursday morning, Benzinga reports. They currently have a $30.00 target price on the stock.

Several other research analysts have also recently weighed in on the company. Bank of America lowered their price objective on 10x Genomics from $36.00 to $25.00 and set a neutral rating on the stock in a research report on Thursday, July 18th. Stifel Nicolaus dropped their price objective on shares of 10x Genomics from $53.00 to $25.00 and set a buy rating for the company in a research note on Tuesday, July 16th. Leerink Partnrs upgraded shares of 10x Genomics to a strong-buy rating in a research report on Tuesday, September 3rd. Barclays dropped their price target on shares of 10x Genomics from $36.00 to $24.00 and set an overweight rating for the company in a research report on Friday, June 28th. Finally, Wolfe Research reiterated a peer perform rating on shares of 10x Genomics in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, 10x Genomics presently has a consensus rating of Moderate Buy and a consensus target price of $30.80.

10x Genomics Stock Performance

NASDAQ TXG opened at $16.26 on Thursday. The stock has a market cap of $1.96 billion, a PE ratio of -8.05 and a beta of 1.85. The firm has a 50-day moving average of $21.43 and a 200-day moving average of $23.28. 10x Genomics has a 52-week low of $14.02 and a 52-week high of $57.90.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $153.10 million for the quarter, compared to analysts’ expectations of $150.90 million. As a group, analysts predict that 10x Genomics will post -1.32 EPS for the current fiscal year.

Insider Activity at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 6,749 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $152,054.97. Following the completion of the transaction, the chief executive officer now owns 882,467 shares of the company’s stock, valued at approximately $19,881,981.51. The trade was a 0.00 % 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 the SEC website. In other 10x Genomics news, CEO Serge Saxonov sold 6,749 shares of the business’s 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 sale, the chief executive officer now owns 882,467 shares of the company’s stock, valued at approximately $19,881,981.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Justin J. Mcanear sold 2,961 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $66,711.33. Following the transaction, the chief financial officer now owns 143,242 shares of the company’s stock, valued at $3,227,242.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,061 shares of company stock valued at $316,794 over the last ninety days. 10.03% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On 10x Genomics

Several large investors have recently bought and sold shares of TXG. Allspring Global Investments Holdings LLC raised its stake in shares of 10x Genomics by 113.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock valued at $26,000 after acquiring an additional 371 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in 10x Genomics by 74.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock worth $37,000 after buying an additional 808 shares during the period. Covestor Ltd grew its position in shares of 10x Genomics by 501.7% in the 1st quarter. Covestor Ltd now owns 1,047 shares of the company’s stock valued at $39,000 after buying an additional 873 shares during the last quarter. Mirador Capital Partners LP increased its stake in shares of 10x Genomics by 3.4% in the first quarter. Mirador Capital Partners LP now owns 28,825 shares of the company’s stock valued at $1,082,000 after buying an additional 940 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of 10x Genomics by 451.8% during the third quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock worth $35,000 after acquiring an additional 1,265 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

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.