10x Genomics (NASDAQ:TXG) coverage initiated by analysts at Leerink Partners

VaselineSeptember 4, 2024

0 4 minutes read

Leerink Partners started coverage on the stock 10x Genomics (NASDAQ:TXG – Free Report) in a report released on Tuesday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $35.00 price objective on the stock.

Several other analysts have recently issued reports on the company. Goldman Sachs Group decreased their price objective on 10x Genomics from $26.00 to $16.00 and set a sell rating on the stock in a report on Tuesday, July 9th. UBS Group lowered their price objective on 10x Genomics from $30.00 to $25.00 and set a neutral rating on the stock in a report on Tuesday, August 13th. JPMorgan Chase & Co. 10x downgraded Genomics from an overweight rating to a neutral rating and decreased their price objective for the stock from $40.00 to $20.00 in a report on Thursday, July 18th. Barclays decreased their price objective on 10x Genomics from $36.00 to $24.00 and set an overweight rating on the stock in a report on Friday, June 28th. Finally, Bank of America cut their price objective on 10x Genomics from $36.00 to $25.00 and set a neutral rating on the stock in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $31.71, based on data from MarketBeat.com.

Check out our latest analysis on TXG

10x genomics trades down 1.4%

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Shares of NASDAQ TXG opened at $23.03 on Tuesday. 10x Genomics has a 12-month low of $15.28 and a 12-month high of $57.90. The company has a market cap of $2.77 billion, a price-to-earnings ratio of -10.33 and a beta of 1.85. The firm has a 50 day moving average of $20.02 and a two hundred day moving average of $27.26.

10x Genomics (NASDAQ:TXG – Get Your Free Report ) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.15. 10x Genomics had a negative net margin of 37.90% and a negative return on equity of 28.23%. The company had revenue of $153.10 million during the quarter, compared to the consensus estimate of $150.90 million. As a group, research analysts forecast that 10x Genomics will post -1.37 earnings per share for the current year.

Indoor activity

In related news, insider Benjamin J. Hindson sold 4,351 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $98,028.03. Following the transaction, the insider now owns 345,704 shares in the company, valued at $7,788,711.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Serge Saxonov sold 6,749 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $152,054.97. Following the transaction, the chief executive officer now owns 882,467 shares in the company, valued at $19,881,981.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Benjamin J. Hindson sold 4,351 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $98,028.03. Following the completion of the transaction, the insider now owns 345,704 shares in the company, valued at approximately $7,788,711.12. The disclosure for this sale can be found here. Insiders have sold 14,061 shares of company stock worth $316,794 over the last 90 days. Company insiders hold 10.03% of the company’s shares.

Institutional investors weigh 10x Genomics

A number of large investors have recently added to or reduced their stakes in TXG. Allspring Global Investments Holdings LLC boosted its position in shares of 10x Genomics by 113.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock valued at $26,000 after acquiring an additional 371 shares during the period. Covestor Ltd boosted its position in shares of 10x Genomics by 501.7% in the first quarter. Covestor Ltd now owns 1,047 shares of the company’s stock valued at $39,000 after acquiring an additional 873 shares during the period. Headlands Technologies LLC bought a new stake in shares of 10x Genomics in the first quarter valued at about $71,000. First Horizon Advisors Inc. boosted its position in shares of 10x Genomics by 74.1% in the second quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock valued at $37,000 after acquiring an additional 808 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of 10x Genomics by 23.4% in the fourth quarter. Van ECK Associates Corp now owns 1,908 shares of the company’s stock valued at $107,000 after acquiring an additional 362 shares during the period. Institutional investors own 84.68% of the company’s shares.

About 10x Genomics

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10x Genomics, Inc, a life science technology company, develops and sells instruments, supplies and software for the analysis of biological systems in the Americas, Europe, the Middle East, Africa, China and Asia Pacific. The company provides chrome tools, chrome connector and chrome controller, microfluidic chips, slides, reagents and other consumable products.