10x Genomics (NASDAQ:TXG) Price Target Cut to $24.00

10x Genomics (NASDAQ:TXG) had its price target cut by analysts at Barclays from $36.00 to $24.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 23.39% from the stock’s current price.

TXG has been the topic of several other research reports. Wolfe Research reaffirmed a “peer perform” rating on shares of 10x Genomics in a report on Thursday. Deutsche Bank Aktiengesellschaft lowered their price target on 10x Genomics from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Bank of America lowered their price target on 10x Genomics from $45.00 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Stifel Nicolaus lowered their price target on 10x Genomics from $63.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, Canaccord Genuity Group lowered their price target on 10x Genomics from $65.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $45.00.

10x Genomics Stock Down 2.0 %

Shares of NASDAQ TXG opened at $19.45 on Friday. 10x Genomics has a 52 week low of $18.39 and a 52 week high of $63.57. The business has a 50-day simple moving average of $23.62 and a two-hundred day simple moving average of $36.94. The company has a market cap of $2.32 billion, a P/E ratio of -8.72 and a beta of 1.87.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Tuesday, April 30th. The company reported ($0.50) EPS 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 business had revenue of $141.01 million during the quarter, compared to the consensus estimate of $142.24 million. During the same quarter last year, the company earned ($0.44) EPS. The firm’s revenue was up 5.0% compared to the same quarter last year. Equities research analysts anticipate that 10x Genomics will post -1.53 EPS for the current year.

Insider Activity at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 4,877 shares of 10x Genomics stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $118,511.10. Following the transaction, the chief executive officer now directly owns 889,641 shares of the company’s stock, valued at approximately $21,618,276.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other 10x Genomics news, insider Benjamin J. Hindson sold 4,087 shares of 10x Genomics stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $99,314.10. Following the transaction, the insider now directly owns 350,055 shares of the company’s stock, valued at approximately $8,506,336.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Serge Saxonov sold 4,877 shares of 10x Genomics stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $118,511.10. Following the completion of the transaction, the chief executive officer now directly owns 889,641 shares in the company, valued at $21,618,276.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,900 shares of company stock valued at $289,170. Corporate insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

A number of large investors have recently made changes to their positions in the business. UMB Bank n.a. grew its position in shares of 10x Genomics by 51.6% in the 4th quarter. UMB Bank n.a. now owns 782 shares of the company’s stock worth $44,000 after buying an additional 266 shares during the last quarter. Van ECK Associates Corp grew its position in shares of 10x Genomics by 23.4% in the 4th 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 grew its position in shares of 10x Genomics by 0.9% in the 4th quarter. AIA Group Ltd now owns 41,369 shares of the company’s stock worth $2,315,000 after buying an additional 365 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of 10x Genomics by 113.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock worth $26,000 after buying an additional 371 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its position in shares of 10x Genomics by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 40,717 shares of the company’s stock worth $2,279,000 after buying an additional 400 shares during the last quarter. 84.68% of the stock is currently owned by 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.