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

10x Genomics (NASDAQ:TXG) had its price target lowered by research analysts at Deutsche Bank Aktiengesellschaft from $60.00 to $55.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 96.85% from the company’s previous close.

A number of other analysts have also issued reports on TXG. Stifel Nicolaus reduced their target price on 10x Genomics from $68.00 to $63.00 and set a “buy” rating for the company in a report on Friday, February 16th. Barclays reduced their target price on 10x Genomics from $55.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, 10x Genomics has a consensus rating of “Moderate Buy” and a consensus target price of $60.22.

10x Genomics Stock Down 3.5 %

TXG opened at $27.94 on Thursday. The firm has a market cap of $3.33 billion, a PE ratio of -12.88 and a beta of 1.90. The business has a fifty day simple moving average of $39.76 and a 200-day simple moving average of $42.92. 10x Genomics has a fifty-two week low of $26.75 and a fifty-two week high of $63.57.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings data 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). The company 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%. The business’s revenue was up 17.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.15) earnings per share. On average, equities research analysts anticipate that 10x Genomics will post -1.47 EPS for the current fiscal year.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 1,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $49.53, for a total transaction of $49,530.00. Following the transaction, the chief executive officer now directly owns 855,381 shares in the company, valued at $42,367,020.93. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Serge Saxonov sold 1,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $49.53, for a total value of $49,530.00. Following the sale, the chief executive officer now directly owns 855,381 shares of the company’s stock, valued at $42,367,020.93. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Justin J. Mcanear sold 1,865 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total value of $86,424.10. Following the completion of the sale, the chief financial officer now directly owns 95,240 shares in the company, valued at $4,413,421.60. The disclosure for this sale can be found here. Insiders have sold a total of 12,959 shares of company stock worth $592,806 over the last three months. Corporate insiders own 10.65% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Several hedge funds and other institutional investors have recently made changes to their positions in TXG. Allspring Global Investments Holdings LLC grew its position in shares of 10x Genomics by 113.5% in 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 last quarter. Atlas Capital Advisors LLC grew its position in 10x Genomics by 41.7% during the second quarter. Atlas Capital Advisors LLC now owns 935 shares of the company’s stock worth $42,000 after buying an additional 275 shares in the last quarter. UMB Bank n.a. grew its position in 10x Genomics by 51.6% during the fourth quarter. UMB Bank n.a. now owns 782 shares of the company’s stock worth $44,000 after buying an additional 266 shares in the last quarter. Comerica Bank acquired a new stake in 10x Genomics during the third quarter worth about $64,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in 10x Genomics during the fourth quarter worth about $66,000. 84.68% of the stock is 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.