10x Genomics (NASDAQ:TXG) Price Target Cut to $45.00

10x Genomics (NASDAQ:TXG) had its price target reduced by stock analysts at Barclays from $55.00 to $45.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 27.37% from the stock’s current price.

Several other research firms also recently issued reports on TXG. Bank of America raised 10x Genomics from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $36.00 to $54.00 in a report on Tuesday, December 12th. Wolfe Research started coverage on 10x Genomics in a report on Wednesday, December 13th. They set an “outperform” rating and a $55.00 price objective on the stock. Guggenheim started coverage on 10x Genomics in a report on Thursday, December 14th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, Stifel Nicolaus reduced their price objective on 10x Genomics from $68.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, February 16th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.88.

10x Genomics Price Performance

Shares of TXG traded down $2.04 on Wednesday, hitting $35.33. The company’s stock had a trading volume of 1,058,196 shares, compared to its average volume of 1,398,759. The company has a 50 day moving average price of $41.88 and a 200 day moving average price of $43.46. 10x Genomics has a fifty-two week low of $33.79 and a fifty-two week high of $63.57. The company has a market capitalization of $4.21 billion, a PE ratio of -16.26 and a beta of 1.90.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.05). 10x Genomics had a negative return on equity of 28.82% and a negative net margin of 41.17%. The firm had revenue of $183.98 million for the quarter, compared to analyst estimates of $182.73 million. During the same period in the prior year, the company posted ($0.15) EPS. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. On average, equities analysts forecast that 10x Genomics will post -1.47 EPS for the current year.

Insider Activity

In other news, CEO Serge Saxonov sold 4,660 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $44.00, for a total value of $205,040.00. Following the transaction, the chief executive officer now owns 842,900 shares of the company’s stock, valued at approximately $37,087,600. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Serge Saxonov sold 4,660 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $44.00, for a total value of $205,040.00. Following the completion of the sale, the chief executive officer now owns 842,900 shares in the company, valued at approximately $37,087,600. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Benjamin J. Hindson sold 2,613 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total transaction of $121,086.42. Following the completion of the sale, 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. Insiders have sold a total of 16,959 shares of company stock valued at $773,766 in the last 90 days. 10.65% of the stock is owned by company insiders.

Institutional Trading of 10x Genomics

A number of large investors have recently made changes to their positions in the company. Raymond James & Associates increased its holdings in 10x Genomics by 19.3% during the 1st quarter. Raymond James & Associates now owns 53,009 shares of the company’s stock worth $4,032,000 after purchasing an additional 8,570 shares in the last quarter. US Bancorp DE increased its holdings in 10x Genomics by 39.6% during the 1st quarter. US Bancorp DE now owns 9,711 shares of the company’s stock worth $739,000 after purchasing an additional 2,753 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in 10x Genomics by 617.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,046 shares of the company’s stock worth $155,000 after purchasing an additional 1,761 shares in the last quarter. MetLife Investment Management LLC bought a new position in 10x Genomics during the 1st quarter worth about $416,000. Finally, BlackRock Inc. increased its holdings in 10x Genomics by 14.2% during the 1st quarter. BlackRock Inc. now owns 9,156,992 shares of the company’s stock worth $696,572,000 after purchasing an additional 1,138,358 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

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.