Brokerages Set 10x Genomics (NASDAQ:TXG) Target Price at $25.92

10x Genomics (NASDAQ:TXG) has been given an average rating of “Hold” by the fifteen analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $28.9167.

TXG has been the topic of several research analyst reports. William Blair raised shares of 10x Genomics from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 31st. Morgan Stanley lifted their price objective on shares of 10x Genomics from $22.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Thursday. Citigroup boosted their price objective on shares of 10x Genomics from $24.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday. Barclays upped their target price on 10x Genomics from $30.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Finally, Bank of America lifted their price target on 10x Genomics from $21.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th.

Insider Transactions at 10x Genomics

In other 10x Genomics news, CFO Adam Taich sold 15,098 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $24.44, for a total transaction of $368,995.12. Following the completion of the transaction, the chief financial officer directly owned 379,898 shares of the company’s stock, valued at approximately $9,284,707.12. This trade represents a 3.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Serge Saxonov sold 30,000 shares of 10x Genomics stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $34.44, for a total transaction of $1,033,200.00. Following the sale, the chief executive officer owned 1,108,380 shares of the company’s stock, valued at approximately $38,172,607.20. The trade was a 2.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 96,309 shares of company stock valued at $2,704,157. 8.84% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TXG. Geneos Wealth Management Inc. purchased a new stake in 10x Genomics in the fourth quarter valued at $38,000. Larson Financial Group LLC boosted its stake 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 worth $39,000 after buying an additional 1,470 shares during the last quarter. Fifth Third Bancorp acquired a new stake in 10x Genomics during the first quarter worth about $50,000. Elevation Wealth Partners LLC grew its holdings in 10x Genomics by 332.3% during the second quarter. Elevation Wealth Partners LLC now owns 1,487 shares of the company’s stock worth $57,000 after acquiring an additional 1,143 shares during the period. Finally, Van ECK Associates Corp raised its position in 10x Genomics by 85.9% during the fourth quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock valued at $60,000 after acquiring an additional 1,695 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

10x Genomics Price Performance

10x Genomics stock traded down $0.37 during midday trading on Friday, reaching $42.73. The company’s stock had a trading volume of 2,832,681 shares, compared to its average volume of 3,133,241. The stock has a market capitalization of $5.43 billion, a P/E ratio of -251.35 and a beta of 2.05. The stock’s 50-day simple moving average is $29.94 and its 200-day simple moving average is $23.68. 10x Genomics has a 52-week low of $11.16 and a 52-week high of $43.23.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.19. The business had revenue of $150.84 million for the quarter, compared to analyst estimates of $146.41 million. 10x Genomics had a negative return on equity of 2.86% and a negative net margin of 3.55%.The company’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.28) earnings per share. As a group, equities research analysts expect that 10x Genomics will post -0.79 earnings per share for the current fiscal year.

About 10x Genomics

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.