10x Genomics (NASDAQ:TXG) Price Target Lowered to $20.00 at UBS Group

10x Genomics (NASDAQ:TXG) had its target price decreased by UBS Group from $25.00 to $20.00 in a research report sent to investors on Wednesday morning, Benzinga reports. UBS Group currently has a neutral rating on the stock.

A number of other equities analysts also recently weighed in on TXG. Jefferies Financial Group raised shares of 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft downgraded shares of 10x Genomics from a “buy” rating to a “hold” rating and lowered their target price for the stock from $55.00 to $25.00 in a research note on Wednesday, July 10th. Barclays lowered their target price on shares of 10x Genomics from $24.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, October 15th. Leerink Partners assumed coverage on shares of 10x Genomics in a research note on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 target price for the company. Finally, Canaccord Genuity Group lowered their target price on shares of 10x Genomics from $32.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, 10x Genomics currently has an average rating of “Moderate Buy” and an average target price of $29.31.

10x Genomics Stock Performance

TXG stock opened at $16.49 on Wednesday. The company has a fifty day moving average price of $20.12 and a 200-day moving average price of $21.49. The company has a market capitalization of $1.99 billion, a P/E ratio of -10.78 and a beta of 1.85. 10x Genomics has a 52-week low of $14.02 and a 52-week high of $57.90.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.04. The firm had revenue of $151.65 million during the quarter, compared to the consensus estimate of $158.84 million. 10x Genomics had a negative net margin of 37.90% and a negative return on equity of 28.23%. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.51) earnings per share. As a group, sell-side analysts forecast that 10x Genomics will post -1.35 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Benjamin J. Hindson sold 4,351 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $98,028.03. Following the sale, the insider now directly owns 345,704 shares in the company, valued at approximately $7,788,711.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Benjamin J. Hindson sold 4,351 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $98,028.03. Following the sale, the insider now directly owns 345,704 shares in the company, valued at approximately $7,788,711.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Serge Saxonov sold 6,749 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 882,467 shares in the company, valued at $19,881,981.51. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,061 shares of company stock valued at $316,794 in the last three months. Company insiders own 10.03% of the company’s stock.

Institutional Trading of 10x Genomics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in 10x Genomics by 113.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock worth $26,000 after purchasing an additional 371 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of 10x Genomics by 74.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock valued at $37,000 after buying an additional 808 shares in the last quarter. Covestor Ltd raised its position in shares of 10x Genomics by 501.7% during the 1st quarter. Covestor Ltd now owns 1,047 shares of the company’s stock valued at $39,000 after buying an additional 873 shares in the last quarter. Blue Trust Inc. raised its position in shares of 10x Genomics by 136.5% during the 3rd quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock valued at $40,000 after buying an additional 1,025 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of 10x Genomics by 451.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock valued at $35,000 after buying an additional 1,265 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

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.