JPMorgan Chase & Co. Has Lowered Expectations for 10x Genomics (NASDAQ:TXG) Stock Price

10x Genomics (NASDAQ:TXG) had its price target decreased by JPMorgan Chase & Co. from $20.00 to $14.00 in a research note released on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

TXG has been the topic of several other research reports. Bank of America lowered their target price on shares of 10x Genomics from $36.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, July 18th. Jefferies Financial Group raised shares of 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Monday, July 22nd. The Goldman Sachs Group lowered their price objective on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating on the stock in a research note on Wednesday. Stifel Nicolaus lowered their price objective on shares of 10x Genomics from $53.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. Finally, 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 research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.19.

10x Genomics Stock Up 1.9 %

Shares of NASDAQ:TXG opened at $16.33 on Wednesday. The company has a market cap of $1.97 billion, a PE ratio of -10.67 and a beta of 1.88. The company’s 50-day moving average price is $19.85 and its 200 day moving average price is $21.27. 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 released its earnings results on Tuesday, October 29th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.04. The firm had revenue of $151.65 million for the quarter, compared to analysts’ expectations 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 last year, the company earned ($0.51) EPS. As a group, equities analysts anticipate that 10x Genomics will post -1.4 EPS for the current year.

Insider Buying and Selling

In related news, CEO Serge Saxonov sold 6,749 shares of the firm’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 $152,054.97. Following the completion of the sale, the chief executive officer now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other 10x Genomics news, insider Benjamin J. Hindson sold 4,351 shares of 10x Genomics 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 $98,028.03. Following the completion of the sale, the insider now directly owns 345,704 shares in the company, valued at $7,788,711.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Serge Saxonov sold 6,749 shares of 10x Genomics 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 $152,054.97. Following the completion of the sale, the chief executive officer now owns 882,467 shares of the company’s stock, valued at $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. Over the last three months, insiders sold 14,061 shares of company stock worth $316,794. 10.03% of the stock is owned by company insiders.

Institutional Trading of 10x Genomics

A number of institutional investors have recently added to or reduced their stakes in TXG. Allspring Global Investments Holdings LLC lifted its stake in 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 acquiring an additional 371 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in 10x Genomics by 58.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,621,778 shares of the company’s stock valued at $135,925,000 after acquiring an additional 1,338,248 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in 10x Genomics by 264.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 319,287 shares of the company’s stock valued at $11,983,000 after acquiring an additional 231,697 shares during the last quarter. Capstone Investment Advisors LLC lifted its stake in 10x Genomics by 191.6% in the first quarter. Capstone Investment Advisors LLC now owns 16,115 shares of the company’s stock valued at $605,000 after acquiring an additional 10,589 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its stake in 10x Genomics by 58.6% in the first quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock valued at $135,780,000 after acquiring an additional 1,338,248 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

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.