UBS Group Cuts 10x Genomics (NASDAQ:TXG) Price Target to $20.00

10x Genomics (NASDAQ:TXG) had its price target trimmed by UBS Group from $25.00 to $20.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

Other analysts also recently issued reports about the company. Stifel Nicolaus cut their target price on 10x Genomics from $53.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. The Goldman Sachs Group decreased their target price on 10x Genomics from $26.00 to $16.00 and set a “sell” rating for the company in a research report on Tuesday, July 9th. Canaccord Genuity Group dropped their price target on shares of 10x Genomics from $32.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Leerink Partnrs raised shares of 10x Genomics to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Stephens restated an “overweight” rating and issued a $30.00 target price on shares of 10x Genomics in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.19.

10x Genomics Stock Performance

10x Genomics stock opened at $16.33 on Wednesday. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of -10.67 and a beta of 1.85. The stock’s 50 day simple moving average is $19.85 and its two-hundred day simple moving average is $21.33. 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 posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.04. The business had revenue of $151.65 million for the quarter, compared to analyst estimates of $158.84 million. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. 10x Genomics’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.51) earnings per share. On average, analysts predict that 10x Genomics will post -1.35 earnings per share for the current year.

Insiders Place Their Bets

In other 10x Genomics news, insider Benjamin J. Hindson sold 4,351 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $98,028.03. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Benjamin J. Hindson sold 4,351 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 345,704 shares of the company’s stock, valued at approximately $7,788,711.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Justin J. Mcanear sold 2,961 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $66,711.33. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,061 shares of company stock worth $316,794 over the last quarter. 10.03% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On 10x Genomics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of 10x Genomics in the 3rd quarter valued at approximately $35,000. ARK Investment Management LLC increased its holdings in 10x Genomics by 15.4% during the 3rd quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company’s stock worth $242,743,000 after purchasing an additional 1,436,582 shares during the period. Interchange Capital Partners LLC purchased a new position in 10x Genomics during the 3rd quarter worth $285,000. Wealth Enhancement Advisory Services LLC increased its holdings in 10x Genomics by 84.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 23,952 shares of the company’s stock worth $541,000 after purchasing an additional 10,935 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in 10x Genomics during the 3rd quarter worth $438,000. 84.68% of the stock is owned by 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.