10x Genomics (NASDAQ:TXG) PT Lowered to $53.00 at Stifel Nicolaus

10x Genomics (NASDAQ:TXG) had its target price decreased by Stifel Nicolaus from $63.00 to $53.00 in a research note released on Wednesday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. Canaccord Genuity Group reduced their price target on shares of 10x Genomics from $65.00 to $50.00 and set a buy rating on the stock in a research note on Monday, April 29th. Deutsche Bank Aktiengesellschaft cut their target price on 10x Genomics from $60.00 to $55.00 and set a buy rating on the stock in a research report on Thursday, April 18th. Barclays lowered 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. Finally, TD Cowen cut shares of 10x Genomics from a buy rating to a hold rating and reduced their price target for the stock from $57.00 to $32.00 in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, 10x Genomics currently has a consensus rating of Moderate Buy and an average price target of $48.50.

10x Genomics Trading Up 4.5 %

TXG stock opened at $27.48 on Wednesday. 10x Genomics has a 12 month low of $24.60 and a 12 month high of $63.57. The company has a market cap of $3.27 billion, a price-to-earnings ratio of -12.24 and a beta of 1.94. The firm has a 50-day moving average of $36.16 and a two-hundred day moving average of $42.18.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Tuesday, April 30th. The company reported ($0.50) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.50). 10x Genomics had a negative return on equity of 30.85% and a negative net margin of 42.20%. The company had revenue of $141.01 million during the quarter, compared to analysts’ expectations of $142.24 million. During the same period in the prior year, the business earned ($0.44) EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities analysts forecast that 10x Genomics will post -1.47 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Serge Saxonov sold 4,660 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $44.00, for a total transaction of $205,040.00. Following the completion of the sale, the chief executive officer now owns 842,900 shares in the company, valued at approximately $37,087,600. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Justin J. Mcanear sold 1,865 shares of 10x Genomics stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total value of $86,424.10. Following the sale, 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 hyperlink. Also, CEO Serge Saxonov sold 4,660 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $44.00, for a total transaction of $205,040.00. Following the transaction, the chief executive officer now owns 842,900 shares in the company, valued at $37,087,600. The disclosure for this sale can be found here. Insiders have sold a total of 12,959 shares of company stock valued at $592,806 over the last quarter. Company insiders own 10.65% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. UMB Bank n.a. lifted its stake in shares of 10x Genomics by 51.6% in the fourth quarter. UMB Bank n.a. now owns 782 shares of the company’s stock valued at $44,000 after purchasing an additional 266 shares during the period. Van ECK Associates Corp boosted its stake in shares of 10x Genomics by 23.4% during the 4th quarter. Van ECK Associates Corp now owns 1,908 shares of the company’s stock worth $107,000 after acquiring an additional 362 shares in the last quarter. AIA Group Ltd boosted its position in 10x Genomics by 0.9% during the fourth quarter. AIA Group Ltd now owns 41,369 shares of the company’s stock worth $2,315,000 after purchasing an additional 365 shares in the last quarter. Allspring Global Investments Holdings LLC grew 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 valued at $26,000 after purchasing an additional 371 shares during the last quarter. Finally, Xponance Inc. grew its holdings in 10x Genomics by 3.2% in the third quarter. Xponance Inc. now owns 13,060 shares of the company’s stock valued at $539,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds 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.