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

10x Genomics (NASDAQ:TXG) had its target price reduced by Barclays from $24.00 to $21.00 in a report issued on Tuesday, Benzinga reports. Barclays currently has an overweight rating on the stock.

TXG has been the subject of a number of other research reports. Morgan Stanley dropped their target price on shares of 10x Genomics from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. UBS Group lowered their target price on 10x Genomics from $30.00 to $25.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Canaccord Genuity Group cut their price target on 10x Genomics from $32.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Leerink Partnrs upgraded 10x Genomics to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Jefferies Financial Group raised 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 analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.60.

10x Genomics Stock Down 5.6 %

Shares of NASDAQ TXG opened at $14.86 on Tuesday. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -7.36 and a beta of 1.85. The company’s 50-day simple moving average is $21.19 and its 200-day simple moving average is $22.87. 10x Genomics has a 52-week low of $14.02 and a 52-week high of $57.90.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.15. The company had revenue of $153.10 million during the quarter, compared to analyst estimates of $150.90 million. 10x Genomics had a negative return on equity of 28.23% and a negative net margin of 37.90%. Equities research analysts anticipate that 10x Genomics will post -1.35 EPS for the current fiscal year.

Insider Buying and Selling at 10x Genomics

In other news, 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 transaction, the chief executive officer now directly owns 882,467 shares in the company, valued at $19,881,981.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Justin J. Mcanear sold 2,961 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 $66,711.33. Following the sale, the chief financial officer now directly owns 143,242 shares of the company’s stock, valued at $3,227,242.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Serge Saxonov sold 6,749 shares of the 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 $152,054.97. Following the sale, the chief executive officer now owns 882,467 shares in the company, valued at approximately $19,881,981.51. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,061 shares of company stock valued at $316,794 over the last quarter. 10.03% of the stock is owned by company insiders.

Institutional Trading of 10x Genomics

A number of large investors have recently modified their holdings of TXG. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in shares of 10x Genomics by 82.6% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 20,232 shares of the company’s stock valued at $457,000 after buying an additional 9,151 shares during the period. Creative Planning purchased a new position in 10x Genomics in the third quarter worth approximately $214,000. VitalStone Financial LLC lifted its stake in 10x Genomics by 43,183.3% in the third quarter. VitalStone Financial LLC now owns 15,582 shares of the company’s stock worth $352,000 after acquiring an additional 15,546 shares during the last quarter. Sound Income Strategies LLC acquired a new position in 10x Genomics during the 3rd quarter worth approximately $46,000. Finally, CWM LLC increased its position in shares of 10x Genomics by 444.5% in the 3rd quarter. CWM LLC now owns 22,810 shares of the company’s stock valued at $515,000 after purchasing an additional 18,621 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

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.