10x Genomics, Inc. (NASDAQ:TXG) Given Consensus Recommendation of “Hold” by Analysts

Shares of 10x Genomics, Inc. (NASDAQ:TXG) have earned an average rating of “Hold” from the seventeen brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $19.79.

Several research firms have recently weighed in on TXG. Barclays lowered their price objective on 10x Genomics from $15.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Stifel Nicolaus dropped their price target on 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Canaccord Genuity Group reduced their price objective on shares of 10x Genomics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Leerink Partnrs downgraded shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 13th. Finally, UBS Group decreased their price target on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th.

10x Genomics Price Performance

Shares of TXG opened at $8.03 on Thursday. The business has a 50-day moving average of $10.06 and a 200-day moving average of $13.72. 10x Genomics has a 1 year low of $6.78 and a 1 year high of $31.14. The company has a market capitalization of $982.09 million, a price-to-earnings ratio of -5.28 and a beta of 2.01.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.08). 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. As a group, sell-side analysts anticipate that 10x Genomics will post -1.43 EPS for the current year.

Insiders Place Their Bets

In other news, insider Benjamin J. Hindson sold 4,573 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $50,623.11. Following the transaction, the insider now owns 335,324 shares in the company, valued at $3,712,036.68. The trade was a 1.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Serge Saxonov sold 5,092 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $11.07, for a total value of $56,368.44. Following the completion of the transaction, the chief executive officer now directly owns 879,482 shares of the company’s stock, valued at approximately $9,735,865.74. This represents a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.03% of the company’s stock.

Hedge Funds Weigh In On 10x Genomics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Signaturefd LLC raised its position in 10x Genomics by 424.6% in the fourth quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock worth $26,000 after acquiring an additional 1,452 shares during the period. GAMMA Investing LLC raised its holdings in shares of 10x Genomics by 81.8% in the 1st quarter. GAMMA Investing LLC now owns 3,586 shares of the company’s stock worth $31,000 after purchasing an additional 1,614 shares during the period. GF Fund Management CO. LTD. purchased a new position in 10x Genomics in the fourth quarter valued at approximately $32,000. Blue Trust Inc. grew its holdings in 10x Genomics by 73.1% during the fourth quarter. Blue Trust Inc. now owns 3,075 shares of the company’s stock valued at $44,000 after purchasing an additional 1,299 shares during the period. Finally, Sound Income Strategies LLC increased its position in 10x Genomics by 65.2% in the fourth quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock worth $48,000 after buying an additional 1,330 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

10x Genomics Company Profile

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.