Barclays Cuts 10x Genomics (NASDAQ:TXG) Price Target to $19.00

10x Genomics (NASDAQ:TXG) had its target price reduced by Barclays from $21.00 to $19.00 in a research report report published on Friday, Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also recently issued reports about the company. Citigroup decreased their target price on 10x Genomics from $35.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. The Goldman Sachs Group dropped their price target on 10x Genomics from $16.00 to $14.00 and set a “sell” rating on the stock in a research note on Wednesday, October 30th. Bank of America reduced their price objective on shares of 10x Genomics from $36.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, July 18th. Canaccord Genuity Group dropped their target price on shares of 10x Genomics from $32.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Finally, Stifel Nicolaus reduced 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 report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.19.

10x Genomics Trading Up 1.9 %

Shares of NASDAQ TXG opened at $16.33 on Friday. 10x Genomics has a twelve month low of $14.02 and a twelve month high of $57.90. The firm has a 50-day moving average of $19.85 and a two-hundred day moving average of $21.21. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of -10.67 and a beta of 1.88.

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 business had revenue of $151.65 million during 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%. The business’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.51) earnings per share. As a group, research analysts predict that 10x Genomics will post -1.4 earnings per share for the current year.

Insider Activity

In related news, insider Benjamin J. Hindson sold 4,351 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 value of $98,028.03. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other 10x Genomics news, 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 of the company’s stock, valued at $3,227,242.26. 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 at this hyperlink. Also, insider Benjamin J. Hindson sold 4,351 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $98,028.03. Following the transaction, the insider now directly owns 345,704 shares in the company, valued at approximately $7,788,711.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,061 shares of company stock worth $316,794 in the last three months. 10.03% of the stock is owned by insiders.

Institutional Investors Weigh In On 10x Genomics

A number of large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised 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 period. Covestor Ltd grew its stake in 10x Genomics by 501.7% in the 1st quarter. Covestor Ltd now owns 1,047 shares of the company’s stock valued at $39,000 after buying an additional 873 shares during the last quarter. GAMMA Investing LLC raised its holdings in 10x Genomics by 451.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock worth $35,000 after acquiring an additional 1,265 shares during the period. Capital Performance Advisors LLP acquired a new position in 10x Genomics during the 3rd quarter worth $35,000. Finally, Blue Trust Inc. boosted its holdings in 10x Genomics by 136.5% during the third quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock valued at $40,000 after acquiring an additional 1,025 shares during the period. Institutional investors 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.