The Goldman Sachs Group Has Lowered Expectations for 10x Genomics (NASDAQ:TXG) Stock Price

10x Genomics (NASDAQ:TXG) had its price objective decreased by The Goldman Sachs Group from $16.00 to $14.00 in a research note published on Wednesday, Benzinga reports. The Goldman Sachs Group currently has a sell rating on the stock.

A number of other equities analysts have also recently issued reports on TXG. Stephens reiterated an “overweight” rating and set a $30.00 target price on shares of 10x Genomics in a report on Thursday, October 10th. JPMorgan Chase & Co. cut 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. Stifel Nicolaus decreased their price target on shares of 10x Genomics from $53.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, July 16th. Morgan Stanley lowered their price objective on shares of 10x Genomics from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Finally, Jefferies Financial Group upgraded shares of 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Monday, July 22nd. 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 company’s stock. According to data from MarketBeat, 10x Genomics has a consensus rating of “Moderate Buy” and an average price target of $29.19.

10x Genomics Trading Up 1.9 %

Shares of 10x Genomics stock opened at $16.33 on Wednesday. The company has a market capitalization of $1.97 billion, a PE ratio of -10.67 and a beta of 1.85. 10x Genomics has a 12 month low of $14.02 and a 12 month high of $57.90. The stock’s fifty day simple moving average is $19.85 and its 200 day simple moving average is $21.33.

10x Genomics (NASDAQ:TXG) last issued 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 the consensus estimate of $158.84 million. 10x Genomics had a negative return on equity of 25.07% and a negative net margin of 28.93%. The firm’s revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.51) EPS. Analysts predict that 10x Genomics will post -1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other 10x Genomics news, insider Benjamin J. Hindson sold 4,351 shares of the business’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 $98,028.03. Following the transaction, the insider now owns 345,704 shares of the company’s stock, valued at $7,788,711.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other 10x Genomics news, insider Benjamin J. Hindson sold 4,351 shares of the business’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 $98,028.03. Following the transaction, the insider now owns 345,704 shares of the company’s stock, valued at $7,788,711.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $22.53, for a total value of $66,711.33. Following the completion of the transaction, the chief financial officer now directly owns 143,242 shares in the company, valued at $3,227,242.26. The trade was a 0.00 % decrease in their position. 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 90 days. 10.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On 10x Genomics

Institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its position in shares of 10x Genomics by 113.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock valued at $26,000 after purchasing an additional 371 shares during the last quarter. GAMMA Investing LLC grew its position in shares of 10x Genomics by 451.8% in the third quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock valued at $35,000 after purchasing an additional 1,265 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of 10x Genomics in the third quarter valued at approximately $35,000. First Horizon Advisors Inc. grew its position in shares of 10x Genomics by 74.1% in the second quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock valued at $37,000 after purchasing an additional 808 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of 10x Genomics by 501.7% in the first quarter. Covestor Ltd now owns 1,047 shares of the company’s stock valued at $39,000 after purchasing an additional 873 shares during the last quarter. Institutional investors and hedge funds 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.