UBS Group Cuts 10x Genomics (NASDAQ:TXG) Price Target to $30.00

10x Genomics (NASDAQ:TXG) had its price objective trimmed by UBS Group from $52.00 to $30.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other analysts have also weighed in on TXG. Canaccord Genuity Group decreased their target price on shares of 10x Genomics from $65.00 to $50.00 and set a buy rating on the stock in a research report on Monday, April 29th. TD Cowen downgraded 10x Genomics from a buy rating to a hold rating and decreased their price objective for the company from $57.00 to $32.00 in a report on Wednesday. The Goldman Sachs Group dropped their target price on 10x Genomics from $30.00 to $26.00 and set a sell rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft decreased their price target on 10x Genomics from $60.00 to $55.00 and set a buy rating on the stock in a research note on Thursday, April 18th. Finally, Barclays dropped their price objective on 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, 10x Genomics presently has a consensus rating of Moderate Buy and an average target price of $48.50.

10x Genomics Stock Up 4.5 %

Shares of TXG opened at $27.48 on Wednesday. The stock’s 50-day moving average price is $36.16 and its 200 day moving average price is $42.18. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of -12.24 and a beta of 1.94. 10x Genomics has a 12-month low of $24.60 and a 12-month high of $63.57.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Tuesday, April 30th. The company reported ($0.50) earnings per share for the quarter, hitting the consensus estimate of ($0.50). 10x Genomics had a negative return on equity of 30.85% and a negative net margin of 42.20%. The company had revenue of $141.01 million for the quarter, compared to analyst estimates of $142.24 million. During the same quarter last year, the firm earned ($0.44) EPS. 10x Genomics’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities research analysts expect that 10x Genomics will post -1.47 EPS for the current year.

Insider Transactions at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 1,000 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $49.53, for a total value of $49,530.00. Following the completion of the transaction, 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 legal filing with the SEC, which is available at this hyperlink. In related news, CEO Serge Saxonov sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $49.53, for a total value of $49,530.00. Following the completion of the sale, the chief executive officer now 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 accessible through the SEC website. Also, insider Benjamin J. Hindson sold 2,613 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $46.34, for a total transaction of $121,086.42. Following the completion of the transaction, the insider now owns 283,059 shares of the company’s stock, valued at approximately $13,116,954.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,959 shares of company stock worth $592,806. Insiders own 10.65% of the company’s stock.

Hedge Funds Weigh In On 10x Genomics

Several hedge funds have recently added to or reduced their stakes in TXG. UMB Bank n.a. lifted its position in 10x Genomics by 51.6% during the 4th quarter. UMB Bank n.a. now owns 782 shares of the company’s stock valued at $44,000 after purchasing an additional 266 shares during the period. Van ECK Associates Corp raised its stake in shares of 10x Genomics by 23.4% during the fourth quarter. Van ECK Associates Corp now owns 1,908 shares of the company’s stock worth $107,000 after buying an additional 362 shares during the last quarter. AIA Group Ltd lifted its holdings in 10x Genomics by 0.9% in the fourth quarter. AIA Group Ltd now owns 41,369 shares of the company’s stock valued at $2,315,000 after buying an additional 365 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in 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 buying an additional 371 shares during the period. Finally, Xponance Inc. grew its holdings in 10x Genomics by 3.2% during the 3rd quarter. Xponance Inc. now owns 13,060 shares of the company’s stock worth $539,000 after acquiring an additional 400 shares during the period. 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.