Barclays Has Lowered Expectations for 10x Genomics (NASDAQ:TXG) Stock Price

10x Genomics (NASDAQ:TXG) had its target price decreased by investment analysts at Barclays from $21.00 to $19.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 16.35% from the company’s current price.

Several other analysts have also issued reports on the stock. The Goldman Sachs Group cut their target price on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lowered shares of 10x Genomics from a “buy” rating to a “hold” rating and cut their target price for the company from $55.00 to $25.00 in a research report on Wednesday, July 10th. Stifel Nicolaus cut their target price on shares of 10x Genomics from $53.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, July 16th. Leerink Partners assumed coverage on shares of 10x Genomics in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 target price for the company. Finally, Jefferies Financial Group upgraded 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 report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.19.

10x Genomics Stock Up 1.9 %

Shares of TXG stock opened at $16.33 on Friday. The company has a 50 day moving average price of $19.85 and a 200-day moving average price of $21.27. 10x Genomics has a 52 week low of $14.02 and a 52 week high of $57.90. The firm has a market capitalization of $1.97 billion, a PE ratio of -10.67 and a beta of 1.88.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results 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 analyst estimates of $158.84 million. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.51) earnings per share. Analysts anticipate that 10x Genomics will post -1.4 earnings per share for the current year.

Insider Transactions at 10x Genomics

In other news, insider Benjamin J. Hindson sold 4,351 shares of the business’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 transaction, the insider now owns 345,704 shares of the company’s stock, valued at approximately $7,788,711.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Serge Saxonov sold 6,749 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 transaction of $152,054.97. Following the sale, the chief executive officer now owns 882,467 shares of the company’s stock, valued at $19,881,981.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,061 shares of company stock valued at $316,794. 10.03% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On 10x Genomics

A number of hedge funds have recently bought and sold shares of TXG. Vanguard Group Inc. lifted its holdings in shares of 10x Genomics by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,101,536 shares of the company’s stock worth $341,581,000 after acquiring an additional 90,204 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of 10x Genomics by 264.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 319,287 shares of the company’s stock worth $11,983,000 after acquiring an additional 231,697 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of 10x Genomics by 604.9% in the 2nd quarter. SG Americas Securities LLC now owns 101,344 shares of the company’s stock worth $1,971,000 after acquiring an additional 86,967 shares during the last quarter. Lecap Asset Management Ltd. bought a new stake in shares of 10x Genomics in the 3rd quarter worth about $877,000. Finally, Marshall Wace LLP bought a new stake in shares of 10x Genomics in the 2nd quarter worth about $689,000. 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.