The Goldman Sachs Group Lowers 10x Genomics (NASDAQ:TXG) Price Target to $6.50

10x Genomics (NASDAQ:TXG - Get Free Report) had its price target lowered by equities researchers at The Goldman Sachs Group from $7.50 to $6.50 in a report released on Monday,Benzinga reports. The firm presently has a "sell" rating on the stock. The Goldman Sachs Group's price objective would suggest a potential downside of 30.90% from the company's previous close.

Several other research firms have also weighed in on TXG. Citigroup dropped their price objective on shares of 10x Genomics from $20.00 to $15.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of 10x Genomics in a research note on Saturday. Stifel Nicolaus lowered their target price on 10x Genomics from $21.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. UBS Group cut their price objective on shares of 10x Genomics from $20.00 to $14.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. Finally, Barclays cut their target price on shares of 10x Genomics from $15.00 to $12.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $17.81.

10x Genomics Stock Performance

Shares of 10x Genomics stock traded up $0.64 on Monday, hitting $9.41. The company's stock had a trading volume of 1,850,484 shares, compared to its average volume of 2,321,764. 10x Genomics has a 1 year low of $6.78 and a 1 year high of $28.25. The firm has a fifty day moving average price of $8.95 and a 200-day moving average price of $12.54. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -6.23 and a beta of 1.94.

10x Genomics (NASDAQ:TXG - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.08). 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. As a group, analysts forecast that 10x Genomics will post -1.43 EPS for the current year.

Insider Buying and Selling

In other news, CEO Serge Saxonov sold 5,092 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $56,368.44. Following the sale, the chief executive officer now directly owns 879,482 shares in the company, valued at approximately $9,735,865.74. This trade represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Benjamin J. Hindson sold 4,573 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $11.07, for a total value of $50,623.11. Following the completion of the sale, the insider now owns 335,324 shares in the company, valued at approximately $3,712,036.68. This represents a 1.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.39% of the stock is owned by company insiders.

Institutional Investors Weigh In On 10x Genomics

Institutional investors have recently modified their holdings of the company. Benjamin Edwards Inc. raised its holdings in 10x Genomics by 10.3% in the 1st quarter. Benjamin Edwards Inc. now owns 77,155 shares of the company's stock valued at $674,000 after acquiring an additional 7,229 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new stake in shares of 10x Genomics in the first quarter worth $119,000. Charles Schwab Investment Management Inc. increased its holdings in 10x Genomics by 20.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 648,410 shares of the company's stock valued at $5,661,000 after purchasing an additional 108,744 shares in the last quarter. Vanguard Group Inc. increased its holdings in 10x Genomics by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 11,118,086 shares of the company's stock valued at $97,061,000 after purchasing an additional 184,537 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in 10x Genomics by 98.0% in the 1st quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 104,512 shares of the company's stock valued at $912,000 after purchasing an additional 51,725 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company's stock.

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.

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