10x Genomics (NASDAQ:TXG) Price Target Cut to $55.00

10x Genomics (NASDAQ:TXGFree Report) had its price target decreased by Deutsche Bank Aktiengesellschaft from $60.00 to $55.00 in a report released on Thursday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on TXG. Stifel Nicolaus lowered their target price on 10x Genomics from $68.00 to $63.00 and set a buy rating for the company in a report on Friday, February 16th. Barclays lowered their target price on 10x Genomics from $55.00 to $45.00 and set an overweight rating for the company in a report on Wednesday, April 10th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $60.22.

View Our Latest Stock Analysis on 10x Genomics

10x Genomics Stock Performance

Shares of TXG opened at $28.95 on Thursday. 10x Genomics has a 1 year low of $26.75 and a 1 year high of $63.57. The business has a 50-day moving average of $40.19 and a 200-day moving average of $43.01.

10x Genomics (NASDAQ:TXGGet Free Report) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.05). 10x Genomics had a negative return on equity of 28.82% and a negative net margin of 41.17%. The company had revenue of $183.98 million for the quarter, compared to the consensus estimate of $182.73 million. During the same quarter last year, the business earned ($0.15) earnings per share. 10x Genomics’s revenue was up 17.8% compared to the same quarter last year. Sell-side analysts predict that 10x Genomics will post -1.47 EPS for the current fiscal year.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $49.53, for a total value of $49,530.00. Following the completion of the sale, the chief executive officer now owns 855,381 shares of the company’s stock, valued at $42,367,020.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Justin J. Mcanear sold 1,865 shares of 10x Genomics stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $46.34, for a total transaction of $86,424.10. Following the transaction, the chief financial officer now owns 95,240 shares of the company’s stock, valued at $4,413,421.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Serge Saxonov sold 1,000 shares of 10x Genomics stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $49.53, for a total value of $49,530.00. Following the transaction, the chief executive officer now directly owns 855,381 shares in the company, valued at approximately $42,367,020.93. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,959 shares of company stock valued at $592,806. Company insiders own 10.65% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its position in shares of 10x Genomics by 17.9% during the second quarter. PNC Financial Services Group Inc. now owns 1,299 shares of the company’s stock valued at $73,000 after buying an additional 197 shares during the last quarter. Atlas Capital Advisors LLC boosted its position in shares of 10x Genomics by 14.2% during the fourth quarter. Atlas Capital Advisors LLC now owns 1,934 shares of the company’s stock valued at $108,000 after buying an additional 240 shares during the last quarter. UMB Bank n.a. boosted its position in shares of 10x Genomics by 51.6% during the fourth quarter. UMB Bank n.a. now owns 782 shares of the company’s stock valued at $44,000 after buying an additional 266 shares during the last quarter. Comerica Bank boosted its position in shares of 10x Genomics by 22.0% during the fourth quarter. Comerica Bank now owns 1,887 shares of the company’s stock valued at $106,000 after buying an additional 340 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of 10x Genomics by 23.4% during the fourth quarter. Van ECK Associates Corp now owns 1,908 shares of the company’s stock valued at $107,000 after buying an additional 362 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

About 10x Genomics

(Get Free Report)

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.

See Also

Analyst Recommendations for 10x Genomics (NASDAQ:TXG)

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