10x Genomics (NASDAQ:TXG) Price Target Cut to $19.00 by Analysts at Barclays

10x Genomics (NASDAQ:TXG) had its price target reduced by analysts at Barclays from $21.00 to $19.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 20.56% from the company’s current price.

Several other research analysts have also issued reports on the company. Leerink Partners began coverage on 10x Genomics in a research report on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 target price for the company. Stifel Nicolaus decreased their price objective on 10x Genomics from $53.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, July 16th. The Goldman Sachs Group dropped their target price on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating on the stock in a report on Wednesday. Citigroup decreased their price target on shares of 10x Genomics from $35.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Jefferies Financial Group raised shares of 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.19.

10x Genomics Stock Performance

TXG stock traded down $0.27 on Friday, reaching $15.76. The company’s stock had a trading volume of 160,568 shares, compared to its average volume of 1,696,914. The firm has a market cap of $1.90 billion, a PE ratio of -10.54 and a beta of 1.85. The business has a fifty day simple moving average of $19.99 and a two-hundred day simple moving average of $21.45. 10x Genomics has a 12-month low of $14.02 and a 12-month high of $57.90.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. The firm had revenue of $151.65 million for the quarter, compared to analyst estimates of $158.84 million. During the same quarter in the previous year, the firm posted ($0.51) EPS. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, research analysts anticipate that 10x Genomics will post -1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 10x Genomics news, insider Benjamin J. Hindson sold 4,351 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 of the company’s stock, valued at $7,788,711.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other 10x Genomics news, CFO Justin J. Mcanear sold 2,961 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $66,711.33. Following the transaction, the chief financial officer now directly owns 143,242 shares in the company, valued at $3,227,242.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benjamin J. Hindson sold 4,351 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $98,028.03. Following the completion of the sale, the insider now directly owns 345,704 shares of the company’s stock, valued at $7,788,711.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,061 shares of company stock valued at $316,794. Corporate insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC increased its stake 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 valued at $26,000 after purchasing an additional 371 shares in the last quarter. GAMMA Investing LLC boosted its holdings in 10x Genomics by 451.8% in the 3rd 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. Capital Performance Advisors LLP purchased a new stake in shares of 10x Genomics in the 3rd quarter valued at approximately $35,000. First Horizon Advisors Inc. increased its stake in 10x Genomics by 74.1% during the second quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock worth $37,000 after acquiring an additional 808 shares during the last quarter. Finally, Covestor Ltd lifted its stake in shares of 10x Genomics by 501.7% in the 1st quarter. Covestor Ltd now owns 1,047 shares of the company’s stock valued at $39,000 after purchasing an additional 873 shares during 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.