10x Genomics (NASDAQ:TXG) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of 10x Genomics (NASDAQ:TXG) from a hold rating to a buy rating in a research note published on Thursday.

Other equities analysts have also issued reports about the company. Canaccord Genuity Group cut their price objective on 10x Genomics from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, May 12th. Stifel Nicolaus dropped their price target on 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. The Goldman Sachs Group dropped their price target on 10x Genomics from $7.50 to $6.50 and set a “sell” rating on the stock in a research note on Monday, May 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of 10x Genomics in a research note on Saturday, May 10th. Finally, Morgan Stanley dropped their price target on 10x Genomics from $26.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, 10x Genomics has an average rating of “Hold” and an average target price of $15.81.

10x Genomics Price Performance

10x Genomics stock opened at $8.17 on Thursday. The stock’s 50 day moving average is $8.59 and its 200 day moving average is $12.06. The firm has a market cap of $999.21 million, a P/E ratio of -5.38 and a beta of 1.94. 10x Genomics has a one year low of $6.78 and a one year high of $24.76.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.09. The company had revenue of $154.88 million for the quarter, compared to analyst estimates of $131.91 million. 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.50) earnings per share. Equities analysts anticipate that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Insider Transactions at 10x Genomics

In other news, CEO Serge Saxonov sold 5,092 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $11.07, for a total transaction of $56,368.44. Following the transaction, the chief executive officer now directly owns 879,482 shares of the company’s stock, valued at $9,735,865.74. This represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Benjamin J. Hindson sold 4,573 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $50,623.11. Following the transaction, the insider now directly owns 335,324 shares in the company, valued at $3,712,036.68. The trade was a 1.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.39% of the stock is owned by insiders.

Institutional Investors Weigh In On 10x Genomics

Several institutional investors have recently bought and sold shares of TXG. Barclays PLC grew its holdings in 10x Genomics by 11.7% during the third quarter. Barclays PLC now owns 602,536 shares of the company’s stock worth $13,605,000 after buying an additional 63,079 shares in the last quarter. MCF Advisors LLC bought a new stake in 10x Genomics during the fourth quarter worth $92,000. Nisa Investment Advisors LLC bought a new stake in 10x Genomics during the fourth quarter worth $237,000. SG Americas Securities LLC grew its holdings in 10x Genomics by 209.8% during the fourth quarter. SG Americas Securities LLC now owns 73,046 shares of the company’s stock worth $1,049,000 after buying an additional 49,468 shares in the last quarter. Finally, Sound Income Strategies LLC grew its holdings in 10x Genomics by 65.2% during the fourth quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock worth $48,000 after buying an additional 1,330 shares in the last quarter. 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.