10x Genomics, Inc. (NASDAQ:TXG) Receives $30.60 Consensus Price Target from Analysts

10x Genomics, Inc. (NASDAQ:TXG) has received an average rating of “Moderate Buy” from the sixteen analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $30.60.

A number of equities research analysts recently commented on TXG shares. Leerink Partners started coverage on shares of 10x Genomics in a report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price objective on the stock. JPMorgan Chase & Co. lowered 10x Genomics from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $40.00 to $20.00 in a research report on Thursday, July 18th. Morgan Stanley cut their price objective on shares of 10x Genomics from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. Barclays decreased their target price on shares of 10x Genomics from $24.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, October 15th. Finally, The Goldman Sachs Group lowered 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 note on Tuesday, July 9th.

10x Genomics Price Performance

NASDAQ TXG opened at $15.10 on Thursday. 10x Genomics has a one year low of $14.02 and a one year high of $57.90. The firm has a market cap of $1.80 billion, a P/E ratio of -6.75 and a beta of 1.85. The stock’s 50-day moving average is $20.87 and its 200-day moving average is $22.24.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, topping 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 the consensus estimate of $150.90 million. Equities analysts anticipate that 10x Genomics will post -1.35 EPS for the current year.

Insider Buying and Selling at 10x Genomics

In related news, CEO Serge Saxonov sold 6,749 shares of the business’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 transaction of $152,054.97. Following the transaction, the chief executive officer now directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Justin J. Mcanear sold 2,961 shares of the business’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 transaction of $66,711.33. Following the completion of the sale, the chief financial officer now owns 143,242 shares in the company, valued at $3,227,242.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Serge Saxonov sold 6,749 shares of the company’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 $152,054.97. Following the completion of the transaction, the chief executive officer now directly owns 882,467 shares in the company, valued at $19,881,981.51. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,061 shares of company stock worth $316,794 over the last 90 days. Company insiders own 10.03% of the company’s stock.

Institutional Trading of 10x Genomics

Several institutional investors have recently added to or reduced their stakes in TXG. Allspring Global Investments Holdings LLC boosted its holdings in 10x Genomics by 113.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock valued at $26,000 after purchasing an additional 371 shares during the period. Covestor Ltd raised its position in shares of 10x Genomics by 501.7% in 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 in the last quarter. GAMMA Investing LLC boosted its stake in shares of 10x Genomics by 451.8% in 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 period. Blue Trust Inc. grew its position in 10x Genomics by 136.5% during the third quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock worth $40,000 after buying an additional 1,025 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in 10x Genomics during the 1st quarter worth $71,000. 84.68% of the stock is currently owned by 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.