10x Genomics (NASDAQ:TXG) Price Target Cut to $45.00

10x Genomics (NASDAQ:TXG - Free Report) had its target price lowered by Barclays from $55.00 to $45.00 in a research report sent to investors on Wednesday, Benzinga reports. Barclays currently has an overweight rating on the stock.

Other equities analysts have also issued research reports about the company. Wolfe Research began coverage on 10x Genomics in a research report on Wednesday, December 13th. They issued an outperform rating and a $55.00 price target for the company. Bank of America upgraded 10x Genomics from an underperform rating to a neutral rating and increased their price target for the company from $36.00 to $54.00 in a research report on Tuesday, December 12th. Stifel Nicolaus decreased their price target on 10x Genomics from $68.00 to $63.00 and set a buy rating for the company in a research report on Friday, February 16th. Finally, Guggenheim assumed coverage on 10x Genomics in a research note on Thursday, December 14th. They issued a buy rating and a $60.00 price objective for the company. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, 10x Genomics has an average rating of Moderate Buy and a consensus target price of $60.88.

10x Genomics Stock Down 5.5 %

NASDAQ TXG traded down $2.06 during trading hours on Wednesday, hitting $35.31. The company had a trading volume of 1,204,269 shares, compared to its average volume of 1,403,005. 10x Genomics has a fifty-two week low of $33.79 and a fifty-two week high of $63.57. The business has a fifty day simple moving average of $41.75 and a 200-day simple moving average of $43.40. The firm has a market cap of $4.21 billion, a P/E ratio of -16.27 and a beta of 1.90.

10x Genomics (NASDAQ:TXG - Get Free Report) last announced its earnings results on Thursday, February 15th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.05). 10x Genomics had a negative net margin of 41.17% and a negative return on equity of 28.82%. The firm had revenue of $183.98 million for the quarter, compared to the consensus estimate of $182.73 million. During the same period in the prior year, the business earned ($0.15) EPS. The company's quarterly revenue was up 17.8% compared to the same quarter last year. Equities analysts forecast that 10x Genomics will post -1.47 EPS for the current fiscal year.

Insider Activity

In related news, CEO Serge Saxonov sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $45.24, for a total transaction of $180,960.00. Following the completion of the transaction, the chief executive officer now owns 856,381 shares in the company, valued at approximately $38,742,676.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other 10x Genomics news, CFO Justin J. Mcanear sold 1,865 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $46.34, for a total transaction of $86,424.10. Following the completion of the transaction, the chief financial officer now directly owns 95,240 shares in the company, valued at $4,413,421.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Serge Saxonov sold 4,000 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $45.24, for a total value of $180,960.00. Following the transaction, the chief executive officer now owns 856,381 shares of the company's stock, valued at $38,742,676.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,959 shares of company stock worth $773,766. Corporate insiders own 10.65% of the company's stock.

Institutional Trading of 10x Genomics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Indiana Trust & Investment Management CO acquired a new stake in shares of 10x Genomics in the third quarter valued at $29,000. Atlas Capital Advisors LLC boosted its holdings in 10x Genomics by 41.7% in the second quarter. Atlas Capital Advisors LLC now owns 935 shares of the company's stock valued at $42,000 after acquiring an additional 275 shares during the last quarter. UMB Bank n.a. boosted its holdings in 10x Genomics by 51.6% in the fourth quarter. UMB Bank n.a. now owns 782 shares of the company's stock valued at $44,000 after acquiring an additional 266 shares during the last quarter. Comerica Bank bought a new position in 10x Genomics in the third quarter valued at about $64,000. Finally, Harvest Fund Management Co. Ltd bought a new position in 10x Genomics in the fourth quarter valued at about $66,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

10x Genomics Company Profile

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.