10x Genomics (NASDAQ:TXG) Price Target Cut to $21.00

10x Genomics (NASDAQ:TXG) had its price objective decreased by Barclays from $24.00 to $21.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 33.42% from the company’s current price.

Several other research firms have also recently weighed in on TXG. JPMorgan Chase & Co. cut shares of 10x Genomics from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $40.00 to $20.00 in a report on Thursday, July 18th. Bank of America cut their price target on shares of 10x Genomics from $36.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, July 18th. 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. Leerink Partnrs upgraded shares of 10x Genomics to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Stephens reiterated an “overweight” rating and issued a $30.00 target price on shares of 10x Genomics in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, 10x Genomics currently has a consensus rating of “Moderate Buy” and an average price target of $30.60.

10x Genomics Price Performance

NASDAQ:TXG opened at $15.74 on Tuesday. The firm has a 50-day moving average of $21.28 and a 200-day moving average of $22.93. The company has a market cap of $1.90 billion, a PE ratio of -7.79 and a beta of 1.85. 10x Genomics has a one year low of $14.02 and a one year high of $57.90.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $150.90 million. On average, equities research analysts expect that 10x Genomics will post -1.35 earnings per share for the current fiscal year.

Insider Activity at 10x Genomics

In related 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 transaction of $98,028.03. Following the sale, the insider now directly owns 345,704 shares in the company, valued at approximately $7,788,711.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related 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 transaction of $98,028.03. Following the sale, the insider now owns 345,704 shares of the company’s stock, valued at approximately $7,788,711.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Justin J. Mcanear sold 2,961 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 $66,711.33. Following the sale, the chief financial officer now directly owns 143,242 shares in the company, valued at $3,227,242.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,061 shares of company stock worth $316,794. 10.03% of the stock is owned by corporate insiders.

Institutional Trading of 10x Genomics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in 10x Genomics by 113.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock worth $26,000 after acquiring an additional 371 shares during the period. Covestor Ltd increased its holdings in shares of 10x Genomics by 501.7% in the 1st quarter. Covestor Ltd now owns 1,047 shares of the company’s stock worth $39,000 after buying an additional 873 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of 10x Genomics by 451.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock worth $35,000 after buying an additional 1,265 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of 10x Genomics in the 1st quarter worth $71,000. Finally, First Horizon Advisors Inc. increased its holdings in shares of 10x Genomics by 74.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock worth $37,000 after buying an additional 808 shares during the last quarter. Institutional investors 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.