10x Genomics (NASDAQ:TXG) Earns “Peer Perform” Rating from Wolfe Research

Wolfe Research reiterated their peer perform rating on shares of 10x Genomics (NASDAQ:TXG) in a report released on Thursday morning, Marketbeat.com reports.

Several other research analysts have also recently issued reports on the company. Stifel Nicolaus cut their price objective on 10x Genomics from $63.00 to $53.00 and set a buy rating for the company in a research report on Wednesday, May 1st. Barclays dropped their price target on 10x Genomics from $55.00 to $45.00 and set an overweight rating for the company in a research report on Wednesday, April 10th. Jefferies Financial Group initiated coverage on 10x Genomics in a research note on Monday, June 3rd. They set a hold rating and a $24.00 price objective on the stock. TD Cowen lowered 10x Genomics from a buy rating to a hold rating and decreased their price objective for the company from $57.00 to $32.00 in a research note on Wednesday, May 1st. Finally, Bank of America decreased their price objective on 10x Genomics from $45.00 to $36.00 and set a neutral rating on the stock in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $45.00.

10x Genomics Trading Down 2.0 %

TXG stock opened at $19.45 on Thursday. The company has a market capitalization of $2.32 billion, a P/E ratio of -8.72 and a beta of 1.87. 10x Genomics has a twelve month low of $18.39 and a twelve month high of $63.57. The business has a 50 day simple moving average of $23.62 and a 200-day simple moving average of $36.84.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.50) earnings per share for the quarter, hitting the consensus estimate of ($0.50). The firm had revenue of $141.01 million during the quarter, compared to the consensus estimate of $142.24 million. 10x Genomics had a negative return on equity of 30.85% and a negative net margin of 42.20%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the company earned ($0.44) earnings per share. Research analysts predict that 10x Genomics will post -1.53 EPS for the current fiscal year.

Insider Activity at 10x Genomics

In related news, CFO Justin J. Mcanear sold 2,936 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total transaction of $71,344.80. Following the sale, the chief financial officer now directly owns 146,203 shares in the company, valued at approximately $3,552,732.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Serge Saxonov sold 4,877 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $118,511.10. Following the completion of the sale, the chief executive officer now directly owns 889,641 shares in the company, valued at approximately $21,618,276.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Justin J. Mcanear sold 2,936 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total value of $71,344.80. Following the transaction, the chief financial officer now owns 146,203 shares of the company’s stock, valued at approximately $3,552,732.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,900 shares of company stock worth $289,170. 10.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TXG. Venrock Management VI LLC acquired a new position in 10x Genomics during the 4th quarter valued at approximately $117,894,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in 10x Genomics by 58.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,621,778 shares of the company’s stock worth $135,925,000 after acquiring an additional 1,338,248 shares during the period. Nikko Asset Management Americas Inc. boosted its position in 10x Genomics by 58.6% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock worth $135,780,000 after acquiring an additional 1,338,248 shares during the period. ARK Investment Management LLC raised its stake in shares of 10x Genomics by 35.0% in the 4th quarter. ARK Investment Management LLC now owns 4,041,287 shares of the company’s stock worth $226,150,000 after buying an additional 1,047,827 shares in the last quarter. Finally, SVB Wealth LLC raised its stake in shares of 10x Genomics by 92.1% in the 4th quarter. SVB Wealth LLC now owns 1,446,552 shares of the company’s stock worth $80,949,000 after buying an additional 693,422 shares in the last quarter. Institutional investors and hedge funds 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.