TD Cowen Lowers 10x Genomics (NASDAQ:TXG) to Hold

TD Cowen downgraded shares of 10x Genomics (NASDAQ:TXG) from a buy rating to a hold rating in a research report sent to investors on Wednesday, Marketbeat.com reports. The firm currently has $32.00 price objective on the stock, down from their previous price objective of $57.00.

Several other analysts also recently issued reports on the company. Canaccord Genuity Group reduced their price target on 10x Genomics from $65.00 to $50.00 and set a buy rating for the company in a research note on Monday, April 29th. Barclays decreased their target price on shares of 10x Genomics from $55.00 to $45.00 and set an overweight rating on the stock in a research report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of 10x Genomics from $60.00 to $55.00 and set a buy rating for the company in a research report on Thursday, April 18th. Finally, Stifel Nicolaus reduced their price target on 10x Genomics from $68.00 to $63.00 and set a buy rating on the stock in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $48.50.

10x Genomics Stock Up 4.5 %

NASDAQ:TXG opened at $27.48 on Wednesday. 10x Genomics has a twelve month low of $24.60 and a twelve month high of $63.57. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of -12.24 and a beta of 1.94. The stock’s 50 day moving average price is $36.16 and its two-hundred day moving average price is $42.18.

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

Insider Transactions at 10x Genomics

In related news, CEO Serge Saxonov sold 1,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 855,381 shares of the company’s stock, valued at approximately $42,367,020.93. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other 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 value of $49,530.00. Following the completion of the transaction, the chief executive officer now owns 855,381 shares of the company’s stock, valued at $42,367,020.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Benjamin J. Hindson sold 2,613 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 $121,086.42. Following the sale, the insider now owns 283,059 shares in the company, valued at $13,116,954.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,959 shares of company stock worth $592,806. Corporate insiders own 10.65% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

A number of institutional investors have recently made changes to their positions in TXG. Allspring Global Investments Holdings LLC lifted 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 buying an additional 371 shares during the period. UMB Bank n.a. increased its holdings in 10x Genomics by 51.6% in the fourth quarter. UMB Bank n.a. now owns 782 shares of the company’s stock worth $44,000 after purchasing an additional 266 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in 10x Genomics in the fourth quarter valued at approximately $66,000. Van ECK Associates Corp boosted its holdings 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 buying an additional 362 shares in the last quarter. Finally, Powell Investment Advisors LLC acquired a new stake in shares of 10x Genomics during the 4th quarter worth approximately $200,000. 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.