10x Genomics (NASDAQ:TXG) Price Target Lowered to $21.00 at Barclays

10x Genomics (NASDAQ:TXG) had its price objective cut by Barclays from $24.00 to $21.00 in a report released on Tuesday, Benzinga reports. They currently have an overweight rating on the stock.

TXG has been the topic of several other research reports. Bank of America lowered their price objective on shares of 10x Genomics from $36.00 to $25.00 and set a neutral rating on the stock in a research note on Thursday, July 18th. Leerink Partnrs upgraded shares of 10x Genomics to a strong-buy rating in a research report on Tuesday, September 3rd. Leerink Partners began coverage on shares of 10x Genomics in a research report on Tuesday, September 3rd. They set an outperform rating and a $35.00 price objective for the company. Stifel Nicolaus lowered their price target on 10x Genomics from $53.00 to $25.00 and set a buy rating on the stock in a research note on Tuesday, July 16th. Finally, UBS Group cut their price target on 10x Genomics from $30.00 to $25.00 and set a neutral rating for the company in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, 10x Genomics currently has an average rating of Moderate Buy and an average price target of $30.60.

10x Genomics Price Performance

Shares of TXG opened at $15.91 on Tuesday. 10x Genomics has a one year low of $14.02 and a one year high of $57.90. The company’s fifty day moving average price is $21.33 and its 200 day moving average price is $22.98. The company has a market capitalization of $1.90 billion, a PE ratio of -7.13 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.15. The business had revenue of $153.10 million during the quarter, compared to analysts’ expectations of $150.90 million. 10x Genomics had a negative return on equity of 28.23% and a negative net margin of 37.90%. Analysts anticipate that 10x Genomics will post -1.32 earnings per share for the current year.

Insider Buying and Selling at 10x Genomics

In other news, CEO Serge Saxonov sold 6,749 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $152,054.97. Following the sale, the chief executive officer now owns 882,467 shares of the company’s stock, valued at approximately $19,881,981.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Justin J. Mcanear sold 2,961 shares of 10x Genomics stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $66,711.33. Following the completion of the transaction, the chief financial officer now owns 143,242 shares in the company, valued at approximately $3,227,242.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Serge Saxonov sold 6,749 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $152,054.97. Following the sale, the chief executive officer now owns 882,467 shares in the company, valued at approximately $19,881,981.51. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,061 shares of company stock valued at $316,794. 10.03% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On 10x Genomics

Institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its holdings in shares of 10x Genomics by 113.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock valued at $26,000 after buying an additional 371 shares during the last quarter. First Horizon Advisors Inc. increased its position in 10x Genomics by 74.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock valued at $37,000 after acquiring an additional 808 shares in the last quarter. Covestor Ltd raised its stake in shares of 10x Genomics by 501.7% in the first quarter. Covestor Ltd now owns 1,047 shares of the company’s stock worth $39,000 after acquiring an additional 873 shares during the last quarter. Mirador Capital Partners LP lifted its position in shares of 10x Genomics by 3.4% during the first quarter. Mirador Capital Partners LP now owns 28,825 shares of the company’s stock worth $1,082,000 after purchasing an additional 940 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of 10x Genomics by 451.8% during the third quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock valued at $35,000 after purchasing an additional 1,265 shares during the last quarter. Institutional investors and hedge funds 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.