Barclays Lowers 10x Genomics (NASDAQ:TXG) Price Target to $19.00

10x Genomics (NASDAQ:TXG) had its target price cut by stock analysts at Barclays from $21.00 to $19.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 20.56% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. UBS Group lowered their price objective on 10x Genomics from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday. Leerink Partners assumed coverage on shares of 10x Genomics in a report on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price target on the stock. JPMorgan Chase & Co. dropped their price objective on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday. Bank of America cut their target price on 10x Genomics from $36.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, July 18th. Finally, Jefferies Financial Group upgraded shares of 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.19.

10x Genomics Price Performance

Shares of TXG stock traded down $0.27 during trading hours on Friday, reaching $15.76. 160,568 shares of the company’s stock were exchanged, compared to its average volume of 1,696,914. The company’s 50 day moving average is $19.99 and its two-hundred day moving average is $21.45. The company has a market cap of $1.90 billion, a P/E ratio of -10.54 and a beta of 1.85. 10x Genomics has a 1 year low of $14.02 and a 1 year high of $57.90.

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

Insider Activity

In related news, CEO Serge Saxonov sold 6,749 shares of the firm’s 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 $152,054.97. Following the completion of the transaction, the chief executive officer now owns 882,467 shares of the company’s stock, valued at approximately $19,881,981.51. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Justin J. Mcanear sold 2,961 shares of the stock in a transaction on 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 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Serge Saxonov sold 6,749 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $152,054.97. Following the completion of the sale, the chief executive officer now owns 882,467 shares in the company, valued at $19,881,981.51. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,061 shares of company stock worth $316,794 over the last 90 days. 10.03% of the stock is owned by company insiders.

Institutional Trading of 10x Genomics

A number of large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its holdings in shares of 10x Genomics by 113.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock valued at $26,000 after acquiring an additional 371 shares during the period. Covestor Ltd increased its position in shares of 10x Genomics by 501.7% during the 1st quarter. Covestor Ltd now owns 1,047 shares of the company’s stock worth $39,000 after purchasing an additional 873 shares in the last quarter. GAMMA Investing LLC increased its position in shares of 10x Genomics by 451.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock worth $35,000 after purchasing an additional 1,265 shares in the last quarter. Capital Performance Advisors LLP bought a new position in 10x Genomics during the 3rd quarter valued at about $35,000. Finally, Blue Trust Inc. grew its stake in 10x Genomics by 136.5% during the third quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock worth $40,000 after buying an additional 1,025 shares during the last quarter. 84.68% of the stock is currently owned by 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.