10x Genomics (NASDAQ:TXG) Price Target Cut to $30.00 by Analysts at UBS Group

10x Genomics (NASDAQ:TXG) had its price objective reduced by UBS Group from $52.00 to $30.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts also recently issued reports on TXG. Barclays dropped their price target on 10x Genomics from $55.00 to $45.00 and set an overweight rating for the company in a research report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft dropped their target price on 10x Genomics from $60.00 to $55.00 and set a buy rating for the company in a research report on Thursday, April 18th. The Goldman Sachs Group dropped their target price on 10x Genomics from $30.00 to $26.00 and set a sell rating for the company in a research report on Wednesday. Bank of America dropped their target price on 10x Genomics from $45.00 to $36.00 and set a neutral rating for the company in a research report on Wednesday. Finally, Canaccord Genuity Group dropped their target price on 10x Genomics from $65.00 to $50.00 and set a buy rating for the company in a research report on Monday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $48.50.

10x Genomics Trading Down 8.1 %

Shares of TXG opened at $26.92 on Wednesday. The company has a market cap of $3.21 billion, a PE ratio of -12.07 and a beta of 1.94. The stock has a 50-day moving average price of $36.94 and a 200-day moving average price of $42.40. 10x Genomics has a 12-month low of $24.60 and a 12-month high of $63.57.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.50) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.50). The firm had revenue of $141.01 million during the quarter, compared to the consensus estimate of $142.24 million. 10x Genomics had a negative return on equity of 30.43% and a negative net margin of 42.20%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.44) EPS. As a group, analysts predict that 10x Genomics will post -1.47 earnings per share for the current year.

Insider Buying and Selling at 10x Genomics

In related news, CEO Serge Saxonov sold 1,000 shares of the company’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 transaction of $49,530.00. Following the completion of the transaction, the chief executive officer now owns 855,381 shares in the company, valued at $42,367,020.93. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Serge Saxonov sold 1,000 shares of the company’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 transaction of $49,530.00. Following the completion of the transaction, the chief executive officer now owns 855,381 shares in the company, valued at $42,367,020.93. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Justin J. Mcanear sold 1,865 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total value of $86,424.10. Following the transaction, the chief financial officer now owns 95,240 shares of the company’s stock, valued at approximately $4,413,421.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,959 shares of company stock worth $592,806. 10.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On 10x Genomics

A number of institutional investors have recently added to or reduced their stakes in the company. Capstone Investment Advisors LLC raised its holdings in 10x Genomics by 191.6% in the first quarter. Capstone Investment Advisors LLC now owns 16,115 shares of the company’s stock worth $605,000 after purchasing an additional 10,589 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 worth $11,983,000 after purchasing an additional 231,697 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in 10x Genomics by 46.7% in the first quarter. Perigon Wealth Management LLC now owns 14,168 shares of the company’s stock worth $532,000 after purchasing an additional 4,512 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in 10x Genomics by 113.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock worth $26,000 after purchasing an additional 371 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in 10x Genomics by 260.5% in the first quarter. Assenagon Asset Management S.A. now owns 63,400 shares of the company’s stock worth $2,379,000 after purchasing an additional 45,814 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

About 10x Genomics

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.