Investment analysts at UBS Group assumed coverage on shares of 10x Genomics (NASDAQ:TXG – Get Free Report) in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage set a “neutral” rating and a $68.00 price target on the stock. UBS Group’s price target would indicate a potential upside of 5.42% from the company’s previous close.
Several other equities analysts also recently commented on TXG. Royal Bank Of Canada started coverage on shares of 10x Genomics in a research note on Tuesday, September 1st. They set a “sector perform” rating and a $70.00 price objective for the company. Stifel Nicolaus set a $50.00 price target on 10x Genomics in a report on Friday, August 7th. Stephens upped their price target on 10x Genomics from $50.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Morgan Stanley increased their price objective on 10x Genomics from $37.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Finally, Piper Sandler increased their price objective on 10x Genomics from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Five analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $44.00.
Get Our Latest Stock Report on 10x Genomics
10x Genomics Stock Performance
10x Genomics (NASDAQ:TXG – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.10. The business had revenue of $151.04 million during the quarter, compared to analysts’ expectations of $146.67 million. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.33%. The firm’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.28 EPS. Equities research analysts predict that 10x Genomics will post -0.75 EPS for the current fiscal year.
Insider Transactions at 10x Genomics
In related news, insider Benjamin J. Hindson sold 13,818 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $63.02, for a total transaction of $870,810.36. Following the transaction, the insider owned 488,182 shares in the company, valued at $30,765,229.64. The trade was a 2.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Shehnaaz Suliman sold 2,207 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $63.65, for a total transaction of $140,475.55. Following the completion of the transaction, the director directly owned 29,515 shares of the company’s stock, valued at approximately $1,878,629.75. The trade was a 6.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 137,945 shares of company stock worth $7,539,588. 8.84% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Sei Investments Co. raised its stake in shares of 10x Genomics by 113.5% in the first quarter. Sei Investments Co. now owns 44,679 shares of the company’s stock worth $949,000 after purchasing an additional 23,748 shares during the last quarter. Simplify Asset Management Inc. purchased a new stake in shares of 10x Genomics during the fourth quarter valued at $7,926,000. Hsbc Holdings PLC purchased a new stake in shares of 10x Genomics during the first quarter valued at $5,945,000. Clough Capital Partners L P bought a new stake in 10x Genomics in the 4th quarter worth about $9,955,000. Finally, Cookson Peirce & Co. Inc. bought a new stake in 10x Genomics in the 4th quarter worth about $571,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.
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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