10x Genomics (NASDAQ:TXG) Reaches New 12-Month High – Should You Buy?

Shares of 10x Genomics (NASDAQ:TXG) reached a new 52-week high on Friday . The company traded as high as $20.47 and last traded at $20.27, with a volume of 1340684 shares. The stock had previously closed at $19.29.

Analyst Upgrades and Downgrades

Several research firms have commented on TXG. JPMorgan Chase & Co. upped their target price on shares of 10x Genomics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of 10x Genomics in a research report on Monday, December 22nd. Wall Street Zen lowered 10x Genomics from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Piper Sandler lifted their target price on 10x Genomics from $15.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Finally, Zacks Research lowered 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $15.96.

10x Genomics Trading Up 6.1%

The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of -33.00 and a beta of 2.18. The stock has a fifty day moving average of $16.76 and a 200-day moving average of $14.18.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Thursday, November 6th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.05. The business had revenue of $149.00 million during the quarter, compared to the consensus estimate of $142.50 million. 10x Genomics had a negative return on equity of 11.50% and a negative net margin of 11.89%.10x Genomics’s revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.30) earnings per share. As a group, equities research analysts forecast that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Serge Saxonov sold 13,261 shares of 10x Genomics stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $19.00, for a total value of $251,959.00. Following the transaction, the chief executive officer directly owned 1,021,556 shares of the company’s stock, valued at $19,409,564. This trade represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Benjamin J. Hindson sold 8,283 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $19.00, for a total transaction of $157,377.00. Following the completion of the sale, the insider owned 432,605 shares of the company’s stock, valued at approximately $8,219,495. This trade represents a 1.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 33,432 shares of company stock worth $635,208 over the last ninety days. 9.39% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On 10x Genomics

A number of institutional investors have recently modified their holdings of the stock. Amundi boosted its holdings in 10x Genomics by 16,013.7% during the first quarter. Amundi now owns 320,340 shares of the company’s stock valued at $2,553,000 after acquiring an additional 318,352 shares during the period. Jump Financial LLC lifted its position in shares of 10x Genomics by 130.2% during the 2nd quarter. Jump Financial LLC now owns 1,041,051 shares of the company’s stock worth $12,055,000 after purchasing an additional 588,769 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of 10x Genomics by 163.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 645,366 shares of the company’s stock worth $5,634,000 after purchasing an additional 400,430 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in 10x Genomics by 235.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,103,768 shares of the company’s stock valued at $62,016,000 after purchasing an additional 4,987,195 shares during the period. Finally, Pallas Capital Advisors LLC grew its holdings in 10x Genomics by 138.8% in the 2nd quarter. Pallas Capital Advisors LLC now owns 56,776 shares of the company’s stock valued at $657,000 after buying an additional 32,996 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.