10x Genomics (NASDAQ:TXG) Given New $24.00 Price Target at Barclays

10x Genomics (NASDAQ:TXG) had its price objective reduced by Barclays from $36.00 to $24.00 in a report published on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

Other equities analysts have also issued reports about the stock. Guggenheim reissued a neutral rating on shares of 10x Genomics in a research note on Tuesday. Stifel Nicolaus cut their price target on 10x Genomics from $63.00 to $53.00 and set a buy rating for the company in a research note on Wednesday, May 1st. Bank of America decreased their price target on 10x Genomics from $45.00 to $36.00 and set a neutral rating on the stock in a report on Wednesday, May 1st. The Goldman Sachs Group cut their target price on 10x Genomics from $30.00 to $26.00 and set a sell rating for the company in a research report on Wednesday, May 1st. Finally, Canaccord Genuity Group lowered their price target on 10x Genomics from $65.00 to $50.00 and set a buy rating on the stock in a report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, 10x Genomics currently has a consensus rating of Hold and an average target price of $45.00.

10x Genomics Stock Performance

NASDAQ:TXG opened at $19.45 on Friday. The business has a fifty day moving average price of $23.62 and a 200-day moving average price of $37.03. 10x Genomics has a one year low of $18.39 and a one year high of $63.57.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Tuesday, April 30th. The company reported ($0.50) EPS 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 firm had revenue of $141.01 million for the quarter, compared to the consensus estimate of $142.24 million. During the same quarter last year, the company earned ($0.44) earnings per share. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities research analysts anticipate that 10x Genomics will post -1.53 EPS for the current year.

Insider Activity at 10x Genomics

In related news, 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 transaction, the chief executive officer now owns 889,641 shares of the company’s stock, valued at approximately $21,618,276.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Serge Saxonov sold 4,877 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total transaction of $118,511.10. Following the transaction, the chief executive officer now owns 889,641 shares of the company’s stock, valued at approximately $21,618,276.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Benjamin J. Hindson sold 4,087 shares of the firm’s stock in a transaction on 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 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 90 days. 10.03% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On 10x Genomics

Several hedge funds have recently added to or reduced their stakes in TXG. SVB Wealth LLC boosted its position in shares of 10x Genomics by 92.1% during the fourth quarter. SVB Wealth LLC now owns 1,446,552 shares of the company’s stock valued at $80,949,000 after buying an additional 693,422 shares during the period. Venrock Management VI LLC bought a new stake in shares of 10x Genomics during the 4th quarter worth approximately $117,894,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in 10x Genomics by 32.9% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,283,530 shares of the company’s stock valued at $127,786,000 after acquiring an additional 565,059 shares during the period. Bleakley Financial Group LLC bought a new position in 10x Genomics in the 4th quarter valued at $234,000. Finally, ARK Investment Management LLC increased its stake in 10x Genomics by 35.0% in the fourth quarter. ARK Investment Management LLC now owns 4,041,287 shares of the company’s stock worth $226,150,000 after purchasing an additional 1,047,827 shares during the period. 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.