10x Genomics (NASDAQ:TXG) Lifted to “Buy” at Jefferies Financial Group

10x Genomics (NASDAQ:TXG) was upgraded by equities researchers at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The brokerage currently has a $24.00 price target on the stock. Jefferies Financial Group’s price objective suggests a potential upside of 26.52% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Stifel Nicolaus reduced their price target on 10x Genomics from $53.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, July 16th. Wolfe Research reiterated a “peer perform” rating on shares of 10x Genomics in a research report on Thursday, June 27th. TD Cowen cut 10x Genomics from a “buy” rating to a “hold” rating and cut their target price for the stock from $57.00 to $32.00 in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft cut 10x Genomics from a “buy” rating to a “hold” rating and cut their target price for the stock from $55.00 to $25.00 in a research report on Wednesday, July 10th. Finally, Barclays cut their target price on 10x Genomics from $36.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $36.29.

10x Genomics Stock Up 4.7 %

Shares of TXG opened at $18.97 on Monday. The business has a 50-day simple moving average of $20.57 and a two-hundred day simple moving average of $32.43. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of -8.51 and a beta of 1.84. 10x Genomics has a 52 week low of $15.28 and a 52 week high of $63.57.

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

Insider Activity at 10x Genomics

In other news, CEO Serge Saxonov sold 4,877 shares of the firm’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 of the company’s stock, valued at approximately $21,618,276.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Benjamin J. Hindson sold 4,087 shares of the firm’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 $99,314.10. Following the completion of the sale, the insider now directly owns 350,055 shares of the company’s stock, valued at approximately $8,506,336.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Serge Saxonov sold 4,877 shares of the firm’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 $118,511.10. Following the completion of the sale, the chief executive officer now directly owns 889,641 shares of the company’s stock, valued at $21,618,276.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,900 shares of company stock valued at $289,170. Insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Several hedge funds and other institutional investors have recently modified their holdings of TXG. Vanguard Group Inc. raised its holdings in shares of 10x Genomics by 4.2% in the third quarter. Vanguard Group Inc. now owns 8,903,517 shares of the company’s stock worth $367,270,000 after buying an additional 354,921 shares during the period. Assenagon Asset Management S.A. purchased a new position in 10x Genomics during the 4th quarter worth $984,000. ARK Investment Management LLC increased its holdings in 10x Genomics by 35.0% during the 4th quarter. ARK Investment Management LLC now owns 4,041,287 shares of the company’s stock worth $226,150,000 after purchasing an additional 1,047,827 shares during the period. Mirador Capital Partners LP increased its holdings in 10x Genomics by 1.9% during the 4th quarter. Mirador Capital Partners LP now owns 27,885 shares of the company’s stock worth $1,560,000 after purchasing an additional 521 shares during the period. Finally, UMB Bank n.a. increased its holdings in 10x Genomics by 51.6% during the 4th quarter. UMB Bank n.a. now owns 782 shares of the company’s stock worth $44,000 after purchasing an additional 266 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

10x Genomics Company Profile

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.