10x Genomics (NASDAQ:TXG) Price Target Lowered to $15.00 at Citigroup

10x Genomics (NASDAQ:TXG) had its price target cut by equities research analysts at Citigroup from $20.00 to $15.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 45.63% from the company’s previous close.

Several other equities research analysts have also recently weighed in on TXG. Morgan Stanley decreased their price target on 10x Genomics from $28.00 to $26.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Canaccord Genuity Group decreased their target price on shares of 10x Genomics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Barclays lowered their price target on shares of 10x Genomics from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Leerink Partnrs lowered shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 13th. Finally, UBS Group lowered their target price on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, 10x Genomics presently has a consensus rating of “Hold” and a consensus target price of $20.21.

10x Genomics Stock Performance

Shares of 10x Genomics stock traded up $0.45 on Tuesday, hitting $10.30. The stock had a trading volume of 2,108,967 shares, compared to its average volume of 2,637,349. The stock has a 50 day moving average of $13.90 and a 200 day moving average of $16.67. The firm has a market capitalization of $1.26 billion, a P/E ratio of -6.78 and a beta of 1.85. 10x Genomics has a twelve month low of $9.27 and a twelve month high of $44.43.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.08). 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. Equities analysts expect that 10x Genomics will post -1.43 earnings per share for the current year.

Insider Buying and Selling at 10x Genomics

In other news, insider Benjamin J. Hindson sold 4,573 shares of 10x Genomics stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $50,623.11. Following the completion of the transaction, the insider now directly owns 335,324 shares in the company, valued at $3,712,036.68. This trade represents a 1.35 % 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, Director Alan Mateo purchased 40,000 shares of the business’s stock in a transaction on Friday, February 21st. The shares were bought at an average price of $11.14 per share, with a total value of $445,600.00. Following the purchase, the director now directly owns 61,691 shares in the company, valued at approximately $687,237.74. The trade was a 184.41 % increase in their position. The disclosure for this purchase can be found here. Insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Several large investors have recently made changes to their positions in TXG. RA Capital Management L.P. bought a new position in 10x Genomics during the fourth quarter valued at about $47,092,000. Assenagon Asset Management S.A. bought a new position in shares of 10x Genomics during the 4th quarter valued at approximately $26,308,000. ARK Investment Management LLC grew its position in shares of 10x Genomics by 15.4% during the 3rd quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company’s stock valued at $242,743,000 after acquiring an additional 1,436,582 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of 10x Genomics during the 3rd quarter worth approximately $27,778,000. Finally, D. E. Shaw & Co. Inc. bought a new stake in shares of 10x Genomics in the 4th quarter worth approximately $17,499,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

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.