10x Genomics (NASDAQ:TXG) PT Lowered to $21.00

10x Genomics (NASDAQ:TXG) had its price target lowered by equities research analysts at Barclays from $24.00 to $21.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 28.91% from the company’s previous close.

A number of other research analysts have also issued reports on the company. Canaccord Genuity Group dropped their target price on 10x Genomics from $32.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. The Goldman Sachs Group lowered their target price on shares of 10x Genomics from $26.00 to $16.00 and set a “sell” rating on the stock in a report on Tuesday, July 9th. Guggenheim restated a “neutral” rating on shares of 10x Genomics in a research report on Tuesday, June 25th. Leerink Partners assumed coverage on 10x Genomics in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 target price on the stock. Finally, Morgan Stanley decreased their price target on 10x Genomics from $50.00 to $46.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.60.

10x Genomics Stock Performance

Shares of TXG stock traded up $0.02 during mid-day trading on Tuesday, hitting $16.29. 1,159,185 shares of the stock were exchanged, compared to its average volume of 1,689,187. The stock’s fifty day simple moving average is $21.39 and its two-hundred day simple moving average is $23.13. 10x Genomics has a 12-month low of $14.02 and a 12-month high of $57.90. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of -7.33 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.15. The company had revenue of $153.10 million for the quarter, compared to analyst estimates of $150.90 million. 10x Genomics had a negative return on equity of 28.23% and a negative net margin of 37.90%. On average, research analysts expect that 10x Genomics will post -1.32 earnings per share for the current fiscal year.

Insider Transactions at 10x Genomics

In related news, CEO Serge Saxonov sold 6,749 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 882,467 shares in the company, valued at approximately $19,881,981.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Serge Saxonov sold 6,749 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $152,054.97. Following the transaction, the chief executive officer now directly owns 882,467 shares of the company’s stock, valued at approximately $19,881,981.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Justin J. Mcanear sold 2,961 shares of 10x Genomics stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $66,711.33. Following the sale, the chief financial officer now directly owns 143,242 shares in the company, valued at $3,227,242.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,061 shares of company stock worth $316,794. 10.03% of the stock is currently owned by company insiders.

Institutional Trading of 10x Genomics

Hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its position in shares of 10x Genomics by 113.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock worth $26,000 after purchasing an additional 371 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in 10x Genomics by 74.1% during the second quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock worth $37,000 after purchasing an additional 808 shares during the last quarter. Covestor Ltd boosted its holdings in 10x Genomics by 501.7% in the first quarter. Covestor Ltd now owns 1,047 shares of the company’s stock worth $39,000 after purchasing an additional 873 shares during the period. Mirador Capital Partners LP increased its stake in 10x Genomics by 3.4% during the first quarter. Mirador Capital Partners LP now owns 28,825 shares of the company’s stock valued at $1,082,000 after purchasing an additional 940 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of 10x Genomics by 451.8% during the third quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock worth $35,000 after purchasing an additional 1,265 shares during the period. 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.