10x Genomics (NASDAQ:TXG) Upgraded at William Blair

William Blair upgraded shares of 10x Genomics (NASDAQ:TXG) from a market perform rating to an outperform rating in a research report released on Tuesday, MarketBeat reports.

A number of other equities research analysts also recently commented on the company. Barclays upped their price objective on 10x Genomics from $17.00 to $22.00 and gave the company an “overweight” rating in a report on Monday, December 15th. UBS Group raised their target price on 10x Genomics from $14.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $20.00 price target (up from $17.00) on shares of 10x Genomics in a research note on Monday, December 1st. Bank of America set a $21.00 price target on shares of 10x Genomics in a research report on Monday, January 12th. Finally, Leerink Partners reduced their price objective on shares of 10x Genomics from $22.00 to $20.00 and set a “market perform” rating on the stock in a research note on Tuesday, January 27th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $18.46.

10x Genomics Stock Performance

TXG opened at $22.33 on Tuesday. The company has a fifty day moving average price of $19.94 and a two-hundred day moving average price of $17.16. 10x Genomics has a 52 week low of $6.78 and a 52 week high of $23.56. The firm has a market capitalization of $2.85 billion, a PE ratio of -63.80 and a beta of 2.17.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Thursday, February 12th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. 10x Genomics had a negative return on equity of 6.89% and a negative net margin of 6.77%.The company had revenue of $166.03 million for the quarter, compared to the consensus estimate of $160.35 million. During the same quarter in the prior year, the business posted ($0.40) EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. Equities analysts forecast that 10x Genomics will post -1.43 EPS for the current year.

Insiders Place Their Bets

In other 10x Genomics news, insider Benjamin J. Hindson sold 7,826 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $18.58, for a total value of $145,407.08. Following the completion of the transaction, the insider directly owned 424,779 shares of the company’s stock, valued at approximately $7,892,393.82. The trade was a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Adam Taich sold 8,968 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $18.58, for a total value of $166,625.44. Following the completion of the sale, the chief financial officer owned 288,417 shares of the company’s stock, valued at $5,358,787.86. This trade represents a 3.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 41,426 shares of company stock worth $779,895. Corporate insiders own 9.39% of the company’s stock.

Hedge Funds Weigh In On 10x Genomics

Institutional investors and hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. bought a new position in 10x Genomics in the fourth quarter valued at approximately $38,000. Larson Financial Group LLC boosted its holdings in shares of 10x Genomics by 164.4% in the fourth quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock valued at $39,000 after buying an additional 1,470 shares during the period. True Wealth Design LLC increased its position in shares of 10x Genomics by 26.4% during the third quarter. True Wealth Design LLC now owns 4,534 shares of the company’s stock worth $53,000 after acquiring an additional 948 shares in the last quarter. Abich Financial Wealth Management LLC bought a new stake in shares of 10x Genomics during the third quarter worth $56,000. Finally, Van ECK Associates Corp raised its holdings in shares of 10x Genomics by 85.9% during the fourth quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock worth $60,000 after acquiring an additional 1,695 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

10x Genomics Company Profile

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.