10x Genomics (NASDAQ:TXG) PT Lowered to $55.00

10x Genomics (NASDAQ:TXG - Get Free Report) had its price objective reduced by equities researchers at Deutsche Bank Aktiengesellschaft from $60.00 to $55.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft's price objective indicates a potential upside of 89.98% from the stock's previous close.

Other equities analysts have also recently issued reports about the stock. Barclays cut their target price on shares of 10x Genomics from $55.00 to $45.00 and set an "overweight" rating for the company in a research note on Wednesday, April 10th. Stifel Nicolaus cut their price target on shares of 10x Genomics from $68.00 to $63.00 and set a "buy" rating for the company in a report on Friday, February 16th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.22.

10x Genomics Stock Down 0.7 %

TXG stock traded down $0.21 during trading hours on Thursday, hitting $28.95. The company's stock had a trading volume of 2,956,115 shares, compared to its average volume of 1,455,778. The company has a market capitalization of $3.45 billion, a PE ratio of -13.34 and a beta of 1.90. 10x Genomics has a 12 month low of $26.75 and a 12 month high of $63.57. The stock has a 50 day moving average price of $40.19 and a two-hundred day moving average price of $43.01.

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

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 4,660 shares of the firm's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $44.00, for a total value of $205,040.00. Following the completion of the sale, the chief executive officer now owns 842,900 shares in the company, valued at approximately $37,087,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Justin J. Mcanear sold 1,865 shares of 10x Genomics stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total transaction of $86,424.10. Following the completion of the sale, the chief financial officer now owns 95,240 shares in the company, valued at approximately $4,413,421.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Serge Saxonov sold 4,660 shares of 10x Genomics stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $44.00, for a total transaction of $205,040.00. Following the sale, the chief executive officer now owns 842,900 shares of the company's stock, valued at approximately $37,087,600. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,959 shares of company stock worth $592,806. 10.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in 10x Genomics by 113.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company's stock valued at $26,000 after purchasing an additional 371 shares during the period. Atlas Capital Advisors LLC grew its holdings in 10x Genomics by 41.7% during the second quarter. Atlas Capital Advisors LLC now owns 935 shares of the company's stock valued at $42,000 after purchasing an additional 275 shares during the period. UMB Bank n.a. grew its holdings in 10x Genomics by 51.6% during the fourth quarter. UMB Bank n.a. now owns 782 shares of the company's stock valued at $44,000 after purchasing an additional 266 shares during the period. Comerica Bank acquired a new position in 10x Genomics during the third quarter valued at approximately $64,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in 10x Genomics during the fourth quarter valued at approximately $66,000. Institutional investors and hedge funds own 84.68% of the company's stock.

About 10x Genomics

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.