10x Genomics (NASDAQ:TXG) Earns “Overweight” Rating from Stephens

Stephens reiterated their overweight rating on shares of 10x Genomics (NASDAQ:TXG) in a report released on Thursday, Benzinga reports. Stephens currently has a $30.00 price objective on the stock.

TXG has been the subject of several other reports. Leerink Partners initiated coverage on 10x Genomics in a research report on Tuesday, September 3rd. They issued an outperform rating and a $35.00 target price for the company. Jefferies Financial Group upgraded 10x Genomics from a hold rating to a buy rating and set a $24.00 target price for the company in a research report on Monday, July 22nd. Bank of America dropped their target price on 10x Genomics from $36.00 to $25.00 and set a neutral rating for the company in a research report on Thursday, July 18th. Stifel Nicolaus lowered their price objective on 10x Genomics from $53.00 to $25.00 and set a buy rating for the company in a research report on Tuesday, July 16th. Finally, Guggenheim restated a neutral rating on shares of 10x Genomics in a research report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, 10x Genomics has an average rating of Moderate Buy and a consensus target price of $30.80.

10x Genomics Stock Up 3.8 %

NASDAQ:TXG opened at $16.26 on Thursday. The stock’s 50-day simple moving average is $21.43 and its 200 day simple moving average is $23.38. The firm has a market capitalization of $1.96 billion, a PE ratio of -8.05 and a beta of 1.85. 10x Genomics has a twelve month low of $14.02 and a twelve month high of $57.90.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.15. The firm had revenue of $153.10 million during the quarter, compared to the consensus estimate of $150.90 million. 10x Genomics had a negative return on equity of 28.23% and a negative net margin of 37.90%. On average, analysts anticipate that 10x Genomics will post -1.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other 10x Genomics news, CEO Serge Saxonov sold 6,749 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other 10x Genomics news, CEO Serge Saxonov sold 6,749 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Benjamin J. Hindson sold 4,351 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $98,028.03. Following the completion of the sale, the insider now directly owns 345,704 shares of the company’s stock, valued at $7,788,711.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,061 shares of company stock worth $316,794. 10.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its position 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 buying an additional 371 shares during the last quarter. Covestor Ltd boosted its position in shares of 10x Genomics by 501.7% during the first 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. GAMMA Investing LLC boosted 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 valued at $35,000 after buying an additional 1,265 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of 10x Genomics during the first quarter valued at approximately $71,000. Finally, First Horizon Advisors Inc. boosted its position in shares of 10x Genomics by 74.1% during the second quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock valued at $37,000 after buying an additional 808 shares during the last quarter. Hedge funds and other institutional investors 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.