10x Genomics (NASDAQ:TXG) Sets New 1-Year High – Still a Buy?

10x Genomics (NASDAQ:TXG) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $24.30 and last traded at $23.58, with a volume of 2682364 shares changing hands. The stock had previously closed at $23.27.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TXG shares. UBS Group boosted their price objective on 10x Genomics from $14.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, February 20th. Canaccord Genuity Group set a $22.00 target price on shares of 10x Genomics in a research note on Friday, February 13th. Bank of America set a $21.00 target price on shares of 10x Genomics in a research note on Monday, January 12th. Stifel Nicolaus upped their target price on shares of 10x Genomics from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Finally, TD Cowen upped their target price on shares of 10x Genomics from $18.00 to $19.00 and gave the stock a “hold” rating in a research note on Friday, February 13th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $19.46.

10x Genomics Stock Performance

The firm has a market capitalization of $3.24 billion, a PE ratio of -72.43 and a beta of 2.17. The company has a fifty day simple moving average of $20.39 and a two-hundred day simple moving average of $17.85.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Thursday, February 12th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $166.03 million during the quarter, compared to analysts’ expectations of $160.35 million. During the same period in the prior year, the business earned ($0.40) EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. On average, 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 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $19.52, for a total value of $97,600.00. Following the completion of the sale, the chief executive officer owned 1,172,273 shares of the company’s stock, valued at approximately $22,882,768.96. This represents a 0.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Adam Taich sold 8,968 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $18.58, for a total transaction of $166,625.44. Following the completion of the sale, the chief financial officer directly owned 288,417 shares of the company’s stock, valued at $5,358,787.86. The trade was a 3.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 41,426 shares of company stock valued at $779,895. Company insiders own 9.39% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

A number of institutional investors have recently added to or reduced their stakes in TXG. Geneos Wealth Management Inc. bought a new stake in 10x Genomics during the fourth quarter valued at about $38,000. Larson Financial Group LLC boosted its position in 10x Genomics by 164.4% during the fourth quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock valued at $39,000 after purchasing an additional 1,470 shares in the last quarter. True Wealth Design LLC boosted its position in 10x Genomics by 26.4% during the third quarter. True Wealth Design LLC now owns 4,534 shares of the company’s stock valued at $53,000 after purchasing an additional 948 shares in the last quarter. Abich Financial Wealth Management LLC bought a new stake in 10x Genomics during the third quarter valued at about $56,000. Finally, Van ECK Associates Corp boosted 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 purchasing an additional 1,695 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

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.