Deutsche Bank Aktiengesellschaft lowered shares of 10x Genomics (NASDAQ:TXG – Free Report) from a buy rating to a hold rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. Deutsche Bank Aktiengesellschaft currently has $25.00 target price on the stock, down from their prior target price of $55.00.
Other research analysts have also issued reports about the stock. TD Cowen lowered shares of 10x Genomics from a buy rating to a hold rating and reduced their target price for the company from $57.00 to $32.00 in a report on Wednesday, May 1st. Wolfe Research restated a peer perform rating on shares of 10x Genomics in a research report on Thursday, June 27th. Bank of America cut their price target on 10x Genomics from $45.00 to $36.00 and set a neutral rating for the company in a report on Wednesday, May 1st. The Goldman Sachs Group decreased their price objective on 10x Genomics from $26.00 to $16.00 and set a sell rating on the stock in a report on Tuesday. Finally, Canaccord Genuity Group dropped their target price on 10x Genomics from $65.00 to $50.00 and set a buy rating for the company in a research note on Monday, April 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $41.92.
Read Our Latest Report on 10x Genomics
10x Genomics Trading Up 2.9 %
10x Genomics (NASDAQ:TXG – Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported ($0.50) earnings per share for the quarter, hitting the consensus estimate of ($0.50). 10x Genomics had a negative return on equity of 30.85% and a negative net margin of 42.20%. The company had revenue of $141.01 million during the quarter, compared to the consensus estimate of $142.24 million. During the same quarter last year, the business posted ($0.44) earnings per share. 10x Genomics’s revenue was up 5.0% compared to the same quarter last year. As a group, analysts predict that 10x Genomics will post -1.53 EPS for the current fiscal year.
Insider Buying and Selling at 10x Genomics
In other news, CEO Serge Saxonov sold 4,877 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total value of $118,511.10. Following the completion of the sale, the chief executive officer now owns 889,641 shares of the company’s stock, valued at $21,618,276.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Benjamin J. Hindson sold 4,087 shares of the company’s 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Serge Saxonov sold 4,877 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total value of $118,511.10. Following the completion of the sale, the chief executive officer now owns 889,641 shares of the company’s stock, valued at approximately $21,618,276.30. The disclosure for this sale can be found here. Insiders have sold a total of 11,900 shares of company stock valued at $289,170 over the last ninety days. Corporate insiders own 10.03% of the company’s stock.
Institutional Trading of 10x Genomics
Large investors have recently bought and sold shares of the company. Advisors Asset Management Inc. increased its position in shares of 10x Genomics by 38.4% during the third quarter. Advisors Asset Management Inc. now owns 10,465 shares of the company’s stock worth $432,000 after acquiring an additional 2,903 shares during the last quarter. Citigroup Inc. boosted its stake in shares of 10x Genomics by 94.4% during the 3rd quarter. Citigroup Inc. now owns 10,951 shares of the company’s stock valued at $452,000 after buying an additional 5,317 shares during the last quarter. Vanguard Group Inc. grew its position in shares of 10x Genomics by 4.2% during the third quarter. Vanguard Group Inc. now owns 8,903,517 shares of the company’s stock worth $367,270,000 after buying an additional 354,921 shares in the last quarter. Handelsinvest Investeringsforvaltning bought a new stake in shares of 10x Genomics in the fourth quarter worth $339,000. Finally, Assenagon Asset Management S.A. acquired a new stake in 10x Genomics in the fourth quarter valued at $984,000. Institutional investors and hedge funds own 84.68% of the company’s stock.
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.
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