The Goldman Sachs Group Lowers 10x Genomics (NASDAQ:TXG) Price Target to $26.00

10x Genomics (NASDAQ:TXG) had its price objective cut by The Goldman Sachs Group from $30.00 to $26.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a sell rating on the stock.

Several other brokerages have also weighed in on TXG. Deutsche Bank Aktiengesellschaft cut their target price on 10x Genomics from $60.00 to $55.00 and set a buy rating on the stock in a research report on Thursday, April 18th. Canaccord Genuity Group cut their price objective on shares of 10x Genomics from $65.00 to $50.00 and set a buy rating on the stock in a report on Monday, April 29th. TD Cowen cut shares of 10x Genomics from a buy rating to a hold rating and lowered their target price for the company from $57.00 to $32.00 in a report on Wednesday. Bank of America dropped their target price on shares of 10x Genomics from $45.00 to $36.00 and set a neutral rating on the stock in a research report on Wednesday. Finally, Barclays decreased their price objective on shares of 10x Genomics from $55.00 to $45.00 and set an overweight rating for the company in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued 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 target price of $48.50.

10x Genomics Trading Up 4.5 %

Shares of 10x Genomics stock opened at $27.48 on Wednesday. 10x Genomics has a 52-week low of $24.60 and a 52-week high of $63.57. The company has a 50 day moving average of $35.81 and a 200 day moving average of $42.10.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings data on Tuesday, April 30th. The company reported ($0.50) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.50). The business had revenue of $141.01 million during the quarter, compared to analysts’ expectations of $142.24 million. 10x Genomics had a negative net margin of 42.20% and a negative return on equity of 30.85%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.44) EPS. On average, research analysts predict that 10x Genomics will post -1.55 EPS for the current fiscal year.

Insider Transactions at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 1,000 shares of 10x Genomics stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $49.53, for a total value of $49,530.00. Following the transaction, the chief executive officer now directly owns 855,381 shares in the company, valued at approximately $42,367,020.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other 10x Genomics news, CEO Serge Saxonov sold 1,000 shares of 10x Genomics stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $49.53, for a total value of $49,530.00. Following the sale, the chief executive officer now owns 855,381 shares of the company’s stock, valued at approximately $42,367,020.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Justin J. Mcanear sold 1,865 shares of 10x Genomics stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total value of $86,424.10. Following the completion of the sale, the chief financial officer now owns 95,240 shares in the company, valued at $4,413,421.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,959 shares of company stock worth $592,806. Company insiders own 10.65% of the company’s stock.

Hedge Funds Weigh In On 10x Genomics

Several hedge funds have recently bought and sold shares of TXG. Commonwealth Equity Services LLC raised its position in 10x Genomics by 26.0% during the third quarter. Commonwealth Equity Services LLC now owns 7,193 shares of the company’s stock worth $297,000 after acquiring an additional 1,486 shares during the last quarter. Xponance Inc. lifted its position in shares of 10x Genomics by 3.2% in the third quarter. Xponance Inc. now owns 13,060 shares of the company’s stock valued at $539,000 after acquiring an additional 400 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of 10x Genomics by 13.9% during the third quarter. Bank of New York Mellon Corp now owns 1,010,256 shares of the company’s stock valued at $41,673,000 after acquiring an additional 122,981 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of 10x Genomics by 13.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,777 shares of the company’s stock valued at $857,000 after acquiring an additional 2,419 shares during the last quarter. Finally, Strs Ohio increased its position in 10x Genomics by 16.8% during the 3rd quarter. Strs Ohio now owns 13,789 shares of the company’s stock worth $568,000 after purchasing an additional 1,986 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other 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.