10x Genomics, Inc. (NASDAQ:TXG) Receives Consensus Recommendation of “Hold” from Analysts

10x Genomics, Inc. (NASDAQ:TXG) has been assigned an average rating of “Hold” from the seventeen brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $20.57.

A number of research analysts recently issued reports on the stock. Citigroup lowered their price target on shares of 10x Genomics from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. JPMorgan Chase & Co. cut their target price on 10x Genomics from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Morgan Stanley reduced their price target on 10x Genomics from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Stifel Nicolaus cut their price objective on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, UBS Group dropped their target price on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th.

10x Genomics Stock Performance

NASDAQ TXG opened at $11.11 on Wednesday. The stock has a market cap of $1.36 billion, a P/E ratio of -7.31 and a beta of 1.85. 10x Genomics has a fifty-two week low of $10.63 and a fifty-two week high of $48.42. The stock has a 50 day simple moving average of $14.16 and a two-hundred day simple moving average of $16.95.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.08). 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. Sell-side analysts predict that 10x Genomics will post -1.43 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Alan Mateo acquired 40,000 shares of 10x Genomics stock in a transaction on Friday, February 21st. The shares were bought at an average cost of $11.14 per share, with a total value of $445,600.00. Following the completion of the purchase, the director now directly owns 61,691 shares of the company’s stock, valued at $687,237.74. The trade was a 184.41 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 10.03% of the stock is owned by insiders.

Institutional Investors Weigh In On 10x Genomics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. RA Capital Management L.P. purchased a new position in 10x Genomics during the 4th quarter valued at $47,092,000. Assenagon Asset Management S.A. purchased a new stake in shares of 10x Genomics in the 4th quarter worth $26,308,000. ARK Investment Management LLC grew its position in shares of 10x Genomics by 15.4% during the 3rd quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company’s stock worth $242,743,000 after buying an additional 1,436,582 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of 10x Genomics during the third quarter valued at $27,778,000. Finally, D. E. Shaw & Co. Inc. bought a new stake in shares of 10x Genomics in the fourth quarter valued at about $17,499,000. Hedge funds and other institutional investors 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.