10x Genomics (NASDAQ:TXG) PT Lowered to $26.00

10x Genomics (NASDAQ:TXG) had its price objective decreased by analysts at The Goldman Sachs Group from $30.00 to $26.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential downside of 2.80% from the company’s previous close.

TXG has been the topic of a number of other reports. TD Cowen downgraded shares of 10x Genomics from a “buy” rating to a “hold” rating and dropped their price objective for the company from $57.00 to $32.00 in a research note on Wednesday. Bank of America lowered their target price on shares of 10x Genomics from $45.00 to $36.00 and set a “neutral” rating for the company in a research note on Wednesday. Canaccord Genuity Group lowered their target price on shares of 10x Genomics from $65.00 to $50.00 and set a “buy” rating for the company in a research note on Monday. Stifel Nicolaus lowered their target price on shares of 10x Genomics from $63.00 to $53.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Barclays lowered their price objective on shares of 10x Genomics from $55.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $50.18.

10x Genomics Stock Down 8.6 %

10x Genomics stock traded down $2.53 during midday trading on Wednesday, reaching $26.75. The stock had a trading volume of 3,276,019 shares, compared to its average volume of 1,504,338. 10x Genomics has a 52-week low of $24.60 and a 52-week high of $63.57. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of -12.32 and a beta of 1.90. The company has a fifty day moving average of $36.94 and a 200 day moving average of $42.40.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Tuesday, April 30th. The company reported ($0.50) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.50). The company had revenue of $141.01 million for the quarter, compared to analyst estimates of $142.24 million. 10x Genomics had a negative net margin of 41.17% and a negative return on equity of 28.82%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.44) EPS. Equities research analysts predict that 10x Genomics will post -1.47 EPS for the current year.

Insider Buying and Selling

In related news, CEO Serge Saxonov sold 4,660 shares of the business’s 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 transaction, the chief executive officer now directly owns 842,900 shares in the company, valued at $37,087,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 10x Genomics news, insider Benjamin J. Hindson sold 2,613 shares of the business’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 $121,086.42. Following the transaction, the insider now directly owns 283,059 shares in the company, valued at approximately $13,116,954.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Serge Saxonov sold 4,660 shares of the business’s 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 in the company, valued at $37,087,600. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,959 shares of company stock worth $592,806. 10.65% of the stock is owned by insiders.

Institutional Investors Weigh In On 10x Genomics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC lifted its holdings in 10x Genomics by 56.4% during the 3rd quarter. FMR LLC now owns 12,666,998 shares of the company’s stock worth $522,514,000 after buying an additional 4,565,400 shares in the last quarter. Venrock Management VI LLC acquired a new stake in 10x Genomics during the 4th quarter worth approximately $117,894,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in 10x Genomics by 58.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,621,778 shares of the company’s stock worth $135,925,000 after buying an additional 1,338,248 shares in the last quarter. ARK Investment Management LLC lifted its holdings in 10x Genomics by 35.0% during the 4th quarter. ARK Investment Management LLC now owns 4,041,287 shares of the company’s stock worth $226,150,000 after buying an additional 1,047,827 shares in the last quarter. Finally, SVB Wealth LLC lifted its holdings in 10x Genomics by 92.1% during the 4th quarter. SVB Wealth LLC now owns 1,446,552 shares of the company’s stock worth $80,949,000 after buying an additional 693,422 shares in the last quarter. 84.68% of the stock is 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.