The Goldman Sachs Group Lowers 10x Genomics (NASDAQ:TXG) Price Target to $14.00

10x Genomics (NASDAQ:TXG) had its price target dropped by analysts at The Goldman Sachs Group from $16.00 to $14.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential downside of 16.22% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Stephens restated an “overweight” rating and set a $30.00 price target on shares of 10x Genomics in a research note on Thursday, October 10th. Stifel Nicolaus dropped their price target on shares of 10x Genomics from $53.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. Canaccord Genuity Group dropped their price target on shares of 10x Genomics from $32.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. JPMorgan Chase & Co. cut shares of 10x Genomics from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $40.00 to $20.00 in a research note on Thursday, July 18th. Finally, Jefferies Financial Group upgraded shares of 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, 10x Genomics presently has an average rating of “Moderate Buy” and a consensus target price of $29.73.

10x Genomics Price Performance

Shares of 10x Genomics stock traded up $0.92 on Wednesday, reaching $16.71. 1,750,372 shares of the company traded hands, compared to its average volume of 1,694,122. 10x Genomics has a 52 week low of $14.02 and a 52 week high of $57.90. The company has a 50 day moving average of $20.25 and a 200 day moving average of $21.52. The firm has a market capitalization of $2.01 billion, a PE ratio of -10.88 and a beta of 1.85.

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

Insider Activity at 10x Genomics

In related news, insider Benjamin J. Hindson sold 4,351 shares of the stock in a transaction 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 transaction, the insider now owns 345,704 shares of the company’s stock, valued at approximately $7,788,711.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other 10x Genomics news, CEO Serge Saxonov sold 6,749 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $152,054.97. Following the transaction, the chief executive officer now owns 882,467 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Benjamin J. Hindson sold 4,351 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $98,028.03. Following the completion of the transaction, the insider now owns 345,704 shares in the company, valued at $7,788,711.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,061 shares of company stock valued at $316,794. Insiders own 10.03% of the company’s stock.

Hedge Funds Weigh In On 10x Genomics

Hedge funds have recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of 10x Genomics by 58.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,621,778 shares of the company’s stock valued at $135,925,000 after acquiring an additional 1,338,248 shares during the period. Vanguard Group Inc. increased its position in shares of 10x Genomics by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,101,536 shares of the company’s stock valued at $341,581,000 after buying an additional 90,204 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 10x Genomics by 264.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 319,287 shares of the company’s stock valued at $11,983,000 after buying an additional 231,697 shares during the period. SG Americas Securities LLC increased its position in shares of 10x Genomics by 604.9% during the second quarter. SG Americas Securities LLC now owns 101,344 shares of the company’s stock valued at $1,971,000 after buying an additional 86,967 shares during the period. Finally, Lecap Asset Management Ltd. purchased a new position in shares of 10x Genomics during the third quarter valued at about $877,000. Hedge funds and other 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.