Shares of 10x Genomics (NASDAQ:TXG – Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $49.59 and last traded at $49.5380, with a volume of 1606197 shares trading hands. The stock had previously closed at $46.32.
Analyst Upgrades and Downgrades
TXG has been the subject of a number of research analyst reports. TD Cowen reaffirmed a “hold” rating on shares of 10x Genomics in a research report on Wednesday, July 15th. Citigroup raised their price objective on 10x Genomics from $24.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Canaccord Genuity Group raised their target price on shares of 10x Genomics from $32.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Morgan Stanley boosted their price target on 10x Genomics from $22.00 to $37.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Finally, Barclays upped their price objective on shares of 10x Genomics from $30.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, 10x Genomics presently has an average rating of “Hold” and an average price target of $32.08.
Check Out Our Latest Stock Analysis on TXG
10x Genomics Price Performance
10x Genomics (NASDAQ:TXG – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.19. The company had revenue of $150.84 million for the quarter, compared to analyst estimates of $146.41 million. 10x Genomics had a negative net margin of 3.55% and a negative return on equity of 2.86%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.28) EPS. Sell-side analysts anticipate that 10x Genomics will post -0.78 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, CFO Adam Taich sold 15,098 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $24.44, for a total transaction of $368,995.12. Following the transaction, the chief financial officer owned 379,898 shares of the company’s stock, valued at $9,284,707.12. This represents a 3.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Serge Saxonov sold 30,000 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $34.44, for a total value of $1,033,200.00. Following the completion of the transaction, the chief executive officer owned 1,108,380 shares in the company, valued at approximately $38,172,607.20. The trade was a 2.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 91,309 shares of company stock valued at $2,581,357 in the last ninety days. 8.84% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the business. Regent Peak Wealth Advisors LLC bought a new position in shares of 10x Genomics in the second quarter valued at approximately $323,000. Tactive Advisors LLC bought a new stake in shares of 10x Genomics during the 2nd quarter worth $479,000. Elevation Wealth Partners LLC boosted its stake in 10x Genomics by 332.3% in the second quarter. Elevation Wealth Partners LLC now owns 1,487 shares of the company’s stock valued at $57,000 after acquiring an additional 1,143 shares during the last quarter. 55 North Private Wealth LLC purchased a new position in 10x Genomics in the second quarter valued at approximately $312,000. Finally, Grant Private Wealth Management Inc purchased a new position in shares of 10x Genomics during the 2nd quarter valued at $292,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.
10x Genomics Company Profile
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.
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