10x Genomics (NASDAQ:TXG) Price Target Cut to $30.00 by Analysts at UBS Group

10x Genomics (NASDAQ:TXG - Get Free Report) had its target price cut by investment analysts at UBS Group from $52.00 to $30.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's price target points to a potential upside of 11.44% from the stock's current price.

A number of other equities research analysts also recently weighed in on the company. TD Cowen downgraded 10x Genomics from a "buy" rating to a "hold" rating and cut their target price for the stock from $57.00 to $32.00 in a research report on Wednesday. Barclays reduced their price target on 10x Genomics from $55.00 to $45.00 and set an "overweight" rating for the company in a report on Wednesday, April 10th. Stifel Nicolaus reduced their target price on 10x Genomics from $63.00 to $53.00 and set a "buy" rating for the company in a report on Wednesday. The Goldman Sachs Group cut their price target on 10x Genomics from $30.00 to $26.00 and set a "sell" rating for the company in a report on Wednesday. Finally, Canaccord Genuity Group lowered their price objective on 10x Genomics from $65.00 to $50.00 and set a "buy" rating on the stock in a research report on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $48.50.

10x Genomics Stock Down 8.1 %

NASDAQ TXG traded down $2.36 during trading hours on Wednesday, hitting $26.92. 6,512,017 shares of the company were exchanged, compared to its average volume of 1,546,238. The company has a 50 day moving average of $36.94 and a two-hundred day moving average of $42.40. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of -12.41 and a beta of 1.90. 10x Genomics has a 52-week low of $24.60 and a 52-week high of $63.57.

10x Genomics (NASDAQ:TXG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported ($0.50) EPS for the quarter, meeting the consensus estimate of ($0.50). The firm had revenue of $141.01 million during the quarter, compared to the consensus estimate of $142.24 million. 10x Genomics had a negative return on equity of 28.82% and a negative net margin of 41.17%. The firm's revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.44) EPS. On average, equities research analysts predict that 10x Genomics will post -1.47 EPS for the current year.

Insider Buying and Selling at 10x Genomics

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

Institutional Investors Weigh In On 10x Genomics

Institutional investors have recently bought and sold shares of the company. SVB Wealth LLC increased its stake in shares of 10x Genomics by 92.1% during the fourth quarter. SVB Wealth LLC now owns 1,446,552 shares of the company's stock worth $80,949,000 after purchasing an additional 693,422 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of 10x Genomics by 32.9% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,283,530 shares of the company's stock valued at $127,786,000 after purchasing an additional 565,059 shares during the last quarter. Bleakley Financial Group LLC purchased a new stake in shares of 10x Genomics in the 4th quarter valued at approximately $234,000. ARK Investment Management LLC increased its position in shares of 10x Genomics by 35.0% in the 4th quarter. ARK Investment Management LLC now owns 4,041,287 shares of the company's stock valued at $226,150,000 after purchasing an additional 1,047,827 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of 10x Genomics by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 8,903,517 shares of the company's stock valued at $367,270,000 after purchasing an additional 354,921 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

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.