10x Genomics (NASDAQ:TXG) Price Target Cut to $19.00 by Analysts at Barclays

10x Genomics (NASDAQ:TXG) had its price objective cut by Barclays from $21.00 to $19.00 in a report issued on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft downgraded 10x Genomics from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $55.00 to $25.00 in a research note on Wednesday, July 10th. Morgan Stanley lowered their price objective on 10x Genomics from $50.00 to $46.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. JPMorgan Chase & Co. lowered their price objective on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday. Canaccord Genuity Group reduced their price target on 10x Genomics from $32.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Finally, The Goldman Sachs Group reduced their price target on 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, 10x Genomics has an average rating of “Moderate Buy” and a consensus price target of $29.19.

10x Genomics Price Performance

Shares of NASDAQ TXG traded up $0.30 during trading on Friday, reaching $16.33. The stock had a trading volume of 1,899,025 shares, compared to its average volume of 2,476,580. The firm’s 50 day moving average price is $19.85 and its two-hundred day moving average price is $21.33. 10x Genomics has a one year low of $14.02 and a one year high of $57.90.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 25.07% and a negative net margin of 28.93%. The firm’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.51) EPS. As a group, equities research analysts expect that 10x Genomics will post -1.4 earnings per share for the current year.

Insider Activity

In other news, CFO Justin J. Mcanear sold 2,961 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $66,711.33. Following the completion of the sale, the chief financial officer now directly owns 143,242 shares of the company’s stock, valued at $3,227,242.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Justin J. Mcanear sold 2,961 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $66,711.33. Following the completion of the sale, the chief financial officer now directly owns 143,242 shares of the company’s stock, valued at $3,227,242.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Benjamin J. Hindson sold 4,351 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $98,028.03. Following the sale, the insider now directly owns 345,704 shares of the company’s stock, valued at approximately $7,788,711.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,061 shares of company stock worth $316,794 over the last 90 days. 10.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in 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. raised its position in 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 raised its position in 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. Lecap Asset Management Ltd. acquired a new position in 10x Genomics during the third quarter valued at $877,000. Finally, Marshall Wace LLP acquired a new position in 10x Genomics during the second quarter valued at $689,000. 84.68% of the stock is owned by institutional investors and hedge funds.

About 10x Genomics

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.