10x Genomics (NASDAQ:TXG) Upgraded at Leerink Partnrs

Leerink Partnrs upgraded shares of 10x Genomics (NASDAQ:TXG) to a strong-buy rating in a research report report published on Tuesday, 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.

A number of other equities analysts have also issued reports on the company. The Goldman Sachs Group lowered their price target on 10x Genomics from $26.00 to $16.00 and set a sell rating on the stock in a report on Tuesday, July 9th. Canaccord Genuity Group dropped their target price on 10x Genomics from $50.00 to $32.00 and set a buy rating on the stock in a report on Tuesday, July 23rd. Jefferies Financial Group raised 10x Genomics from a hold rating to a buy rating and set a $24.00 price target for the company in a report on Monday, July 22nd. Bank of America dropped their price objective on shares of 10x Genomics from $36.00 to $25.00 and set a neutral rating on the stock in a research note on Thursday, July 18th. Finally, Stifel Nicolaus reduced their target price 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. One investment analyst has rated the stock with a sell rating, seven have given 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 presently has an average rating of Moderate Buy and a consensus price target of $31.60.

10x Genomics Stock Performance

TXG opened at $21.54 on Tuesday. The company has a market cap of $2.60 billion, a P/E ratio of -9.66 and a beta of 1.85. 10x Genomics has a one year low of $15.28 and a one year high of $57.90. The business’s 50-day simple moving average is $20.19 and its 200-day simple moving average is $27.01.

10x Genomics (NASDAQ:TXG) last posted its earnings results 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 firm had revenue of $153.10 million for the quarter, compared to the consensus estimate of $150.90 million. As a group, analysts predict that 10x Genomics will post -1.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 10x Genomics news, CFO Justin J. Mcanear sold 2,961 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 143,242 shares in the company, valued at approximately $3,227,242.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 10x Genomics news, CFO Justin J. Mcanear sold 2,961 shares of the 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 sale, the chief financial officer now owns 143,242 shares in the company, valued at approximately $3,227,242.26. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Benjamin J. Hindson sold 4,351 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $98,028.03. Following the completion of the transaction, the insider now directly owns 345,704 shares of the company’s stock, valued at $7,788,711.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,061 shares of company stock worth $316,794. 10.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On 10x Genomics

Several hedge funds have recently made changes to their positions in TXG. ARK Investment Management LLC boosted its position in shares of 10x Genomics by 48.2% in the second quarter. ARK Investment Management LLC now owns 9,313,763 shares of the company’s stock worth $181,153,000 after acquiring an additional 3,029,951 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of 10x Genomics by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,101,536 shares of the company’s stock worth $341,581,000 after buying an additional 90,204 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of 10x Genomics by 69.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,143,067 shares of the company’s stock worth $119,483,000 after buying an additional 2,521,289 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in 10x Genomics by 17.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,657,227 shares of the company’s stock valued at $137,257,000 after acquiring an additional 553,053 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. raised its holdings in shares of 10x Genomics by 58.6% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock worth $135,780,000 after purchasing an additional 1,338,248 shares during the period. 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.