10x Genomics (NASDAQ:TXG) Price Target Raised to $30.00
by Teresa Graham · The Cerbat Gem10x Genomics (NASDAQ:TXG – Get Free Report) had its price objective hoisted by research analysts at Bank of America from $21.00 to $30.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s target price suggests a potential upside of 17.31% from the stock’s previous close.
Several other analysts have also recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of 10x Genomics in a report on Friday, March 27th. Deutsche Bank Aktiengesellschaft set a $17.00 target price on 10x Genomics and gave the stock a “hold” rating in a report on Friday, February 13th. TD Cowen increased their target price on 10x Genomics from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Friday, February 13th. Leerink Partners decreased their target price on 10x Genomics from $22.00 to $20.00 and set a “market perform” rating on the stock in a report on Tuesday, January 27th. Finally, UBS Group increased their target price on 10x Genomics from $14.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, 10x Genomics presently has a consensus rating of “Hold” and a consensus target price of $20.11.
Check Out Our Latest Analysis on TXG
10x Genomics Stock Down 1.9%
NASDAQ:TXG traded down $0.51 during trading hours on Monday, reaching $25.57. The company had a trading volume of 845,178 shares, compared to its average volume of 2,526,463. The stock has a 50-day moving average of $20.69 and a two-hundred day moving average of $18.09. 10x Genomics has a one year low of $7.25 and a one year high of $26.44. The firm has a market capitalization of $3.27 billion, a PE ratio of -73.09 and a beta of 2.17.
10x Genomics (NASDAQ:TXG – Get Free Report) last announced its earnings results on Thursday, February 12th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.06. The company had revenue of $166.03 million for the quarter, compared to analysts’ expectations of $160.35 million. 10x Genomics had a negative return on equity of 6.89% and a negative net margin of 6.77%.The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.40) earnings per share. As a group, sell-side analysts expect that 10x Genomics will post -1.43 earnings per share for the current year.
Insider Activity
In other news, CEO Serge Saxonov sold 10,000 shares of the company’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $19.13, for a total transaction of $191,300.00. Following the transaction, the chief executive officer owned 1,177,273 shares of the company’s stock, valued at $22,521,232.49. This represents a 0.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Adam Taich sold 8,968 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $18.58, for a total value of $166,625.44. Following the transaction, the chief financial officer directly owned 288,417 shares in the company, valued at $5,358,787.86. This trade represents a 3.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 46,426 shares of company stock valued at $902,695 over the last 90 days. 10.03% of the stock is owned by company insiders.
Hedge Funds Weigh In On 10x Genomics
Hedge funds have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. acquired a new position in 10x Genomics in the fourth quarter valued at about $38,000. Larson Financial Group LLC lifted its stake in 10x Genomics by 164.4% in the fourth quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock valued at $39,000 after buying an additional 1,470 shares during the period. True Wealth Design LLC lifted its stake in 10x Genomics by 26.4% in the third quarter. True Wealth Design LLC now owns 4,534 shares of the company’s stock valued at $53,000 after buying an additional 948 shares during the period. Abich Financial Wealth Management LLC acquired a new position in 10x Genomics in the third quarter valued at about $56,000. Finally, Van ECK Associates Corp lifted its stake in 10x Genomics by 85.9% in the fourth quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock valued at $60,000 after buying an additional 1,695 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.
About 10x Genomics
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.