10x Genomics, Inc. (NASDAQ:TXG) Given Consensus Recommendation of “Moderate Buy” by Analysts

10x Genomics, Inc. (NASDAQ:TXG) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $31.60.

A number of research firms have recently weighed in on TXG. Jefferies Financial Group raised shares of 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Monday, July 22nd. Wolfe Research restated a “peer perform” rating on shares of 10x Genomics in a research note on Thursday, June 27th. Stephens reaffirmed an “overweight” rating and set a $30.00 price target on shares of 10x Genomics in a research report on Wednesday, September 4th. JPMorgan Chase & Co. lowered 10x Genomics from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $40.00 to $20.00 in a report on Thursday, July 18th. Finally, Leerink Partnrs raised 10x Genomics to a “strong-buy” rating in a report on Tuesday, September 3rd.

Insider Buying and Selling at 10x Genomics

In related news, CFO Justin J. Mcanear sold 2,961 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $66,711.33. Following the sale, the chief financial officer now owns 143,242 shares of the company’s stock, valued at approximately $3,227,242.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Justin J. Mcanear sold 2,961 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $66,711.33. Following the completion of the transaction, the chief financial officer now directly owns 143,242 shares in the company, valued at $3,227,242.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Benjamin J. Hindson sold 4,351 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $98,028.03. Following the completion of the transaction, the insider now directly owns 345,704 shares of the company’s stock, valued at $7,788,711.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,061 shares of company stock worth $316,794. 10.03% 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. Norges Bank bought a new stake in 10x Genomics during the fourth quarter worth approximately $36,262,000. US Bancorp DE raised its stake in shares of 10x Genomics by 19.4% in the 4th quarter. US Bancorp DE now owns 15,212 shares of the company’s stock worth $851,000 after buying an additional 2,469 shares in the last quarter. Primecap Management Co. CA lifted its holdings in shares of 10x Genomics by 4.3% in the fourth quarter. Primecap Management Co. CA now owns 31,400 shares of the company’s stock valued at $1,757,000 after buying an additional 1,300 shares during the period. TD Asset Management Inc boosted its stake in 10x Genomics by 15.4% during the fourth quarter. TD Asset Management Inc now owns 275,164 shares of the company’s stock valued at $15,398,000 after buying an additional 36,800 shares in the last quarter. Finally, Decheng Capital LLC acquired a new position in 10x Genomics during the fourth quarter worth about $20,121,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

10x Genomics Stock Up 1.7 %

Shares of NASDAQ:TXG opened at $22.67 on Friday. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -10.17 and a beta of 1.85. The company has a 50 day moving average of $21.43 and a two-hundred day moving average of $24.59. 10x Genomics has a 52-week low of $15.28 and a 52-week high of $57.90.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.15. 10x Genomics had a negative return on equity of 28.23% and a negative net margin of 37.90%. The business had revenue of $153.10 million for the quarter, compared to analysts’ expectations of $150.90 million. On average, equities analysts anticipate that 10x Genomics will post -1.32 earnings per share for the current year.

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.