10x Genomics (NASDAQ:TXG) Given New $21.00 Price Target at Barclays

10x Genomics (NASDAQ:TXG) had its price target lowered by Barclays from $24.00 to $21.00 in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts also recently commented on the company. UBS Group dropped their price objective on 10x Genomics from $30.00 to $25.00 and set a neutral rating on the stock in a research note on Tuesday, August 13th. Leerink Partners began coverage on shares of 10x Genomics in a report on Tuesday, September 3rd. They issued an outperform rating and a $35.00 price target for the company. Wolfe Research reaffirmed a peer perform rating on shares of 10x Genomics in a research note on Thursday, June 27th. JPMorgan Chase & Co. lowered shares of 10x Genomics from an overweight rating to a neutral rating and cut their target price for the company from $40.00 to $20.00 in a research note 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 research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, 10x Genomics has a consensus rating of Moderate Buy and a consensus target price of $30.60.

10x Genomics Stock Down 2.2 %

TXG stock opened at $15.91 on Tuesday. The company has a 50-day simple moving average of $21.33 and a 200 day simple moving average of $22.98. The company has a market capitalization of $1.90 billion, a P/E ratio of -7.13 and a beta of 1.85. 10x Genomics has a fifty-two week low of $14.02 and a fifty-two week high of $57.90.

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

Insider Activity at 10x Genomics

In other 10x Genomics news, insider Benjamin J. Hindson sold 4,351 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $7,788,711.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other 10x Genomics news, insider Benjamin J. Hindson sold 4,351 shares of the company’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 $98,028.03. Following the transaction, the insider now owns 345,704 shares in the company, valued at approximately $7,788,711.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Serge Saxonov sold 6,749 shares of 10x Genomics stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $152,054.97. Following the sale, the chief executive officer now directly owns 882,467 shares of the company’s stock, valued at $19,881,981.51. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,061 shares of company stock valued at $316,794. Company insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. ARK Investment Management LLC grew its position in 10x Genomics by 48.2% in the second quarter. ARK Investment Management LLC now owns 9,313,763 shares of the company’s stock worth $181,153,000 after acquiring an additional 3,029,951 shares in the last quarter. Vanguard Group Inc. boosted its holdings in 10x Genomics by 1.0% in the first quarter. Vanguard Group Inc. now owns 9,101,536 shares of the company’s stock worth $341,581,000 after purchasing an additional 90,204 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in 10x Genomics by 69.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,143,067 shares of the company’s stock worth $119,483,000 after buying an additional 2,521,289 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in 10x Genomics by 17.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,657,227 shares of the company’s stock valued at $137,257,000 after buying an additional 553,053 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its position in shares of 10x Genomics by 58.6% in the first quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock worth $135,780,000 after buying an additional 1,338,248 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

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.