10x Genomics (NASDAQ:TXG) Price Target Lowered to $25.00 at UBS Group

10x Genomics (NASDAQ:TXG) had its target price trimmed by UBS Group from $30.00 to $25.00 in a research report report published on Tuesday morning, MarketBeat.com reports. The firm currently has a neutral rating on the stock.

Several other brokerages also recently weighed in on TXG. Jefferies Financial Group upgraded 10x Genomics from a hold rating to a buy rating and set a $24.00 price objective for the company in a research report on Monday, July 22nd. Barclays dropped their price objective on 10x Genomics from $36.00 to $24.00 and set an overweight rating for the company in a research report on Friday, June 28th. JPMorgan Chase & Co. downgraded 10x Genomics from an overweight rating to a neutral rating and dropped their price objective for the stock from $40.00 to $20.00 in a research report on Thursday, July 18th. Wolfe Research restated a peer perform rating on shares of 10x Genomics in a research report on Thursday, June 27th. Finally, Guggenheim restated a neutral rating on shares of 10x Genomics in a research report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $31.46.

10x Genomics Stock Performance

NASDAQ:TXG opened at $21.75 on Tuesday. The stock has a fifty day moving average price of $19.41 and a 200-day moving average price of $29.46. The company has a market cap of $2.59 billion, a price-to-earnings ratio of -9.75 and a beta of 1.84. 10x Genomics has a fifty-two week low of $15.28 and a fifty-two week high of $57.90.

Insider Activity

In other news, insider Benjamin J. Hindson sold 4,087 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $99,314.10. Following the completion of the sale, the insider now owns 350,055 shares of the company’s stock, valued at $8,506,336.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Justin J. Mcanear sold 2,936 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total transaction of $71,344.80. Following the completion of the sale, the chief financial officer now owns 146,203 shares of the company’s stock, valued at $3,552,732.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benjamin J. Hindson sold 4,087 shares of the firm’s 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 sale, the insider now directly owns 350,055 shares of the company’s stock, valued at approximately $8,506,336.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,900 shares of company stock valued at $289,170. Company insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Several large investors have recently added to or reduced their stakes in the business. Algert Global LLC grew its stake in 10x Genomics by 39.4% during the second quarter. Algert Global LLC now owns 117,964 shares of the company’s stock worth $2,294,000 after purchasing an additional 33,364 shares during the period. Susquehanna Fundamental Investments LLC grew its stake in 10x Genomics by 166.7% during the second quarter. Susquehanna Fundamental Investments LLC now owns 201,671 shares of the company’s stock worth $3,923,000 after purchasing an additional 126,052 shares during the period. Deerfield Management Company L.P. Series C acquired a new stake in 10x Genomics during the second quarter worth approximately $11,612,000. AQR Capital Management LLC grew its stake in 10x Genomics by 230.9% during the second quarter. AQR Capital Management LLC now owns 315,180 shares of the company’s stock worth $6,130,000 after purchasing an additional 219,945 shares during the period. Finally, Squarepoint Ops LLC grew its stake in 10x Genomics by 1.1% during the second quarter. Squarepoint Ops LLC now owns 515,883 shares of the company’s stock worth $10,034,000 after purchasing an additional 5,720 shares during the period. 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.