10x Genomics (NASDAQ:TXG) PT Lowered to $55.00

10x Genomics (NASDAQ:TXG) had its price objective cut by investment analysts at Deutsche Bank Aktiengesellschaft from $60.00 to $55.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 88.61% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Barclays decreased their target price on shares of 10x Genomics from $55.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. Stifel Nicolaus reduced their price objective on 10x Genomics from $68.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, February 16th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, 10x Genomics currently has an average rating of “Moderate Buy” and an average target price of $60.22.

10x Genomics Trading Down 5.3 %

Shares of TXG opened at $29.16 on Thursday. The firm has a market cap of $3.47 billion, a PE ratio of -13.44 and a beta of 1.90. The firm has a fifty day simple moving average of $40.59 and a two-hundred day simple moving average of $43.11. 10x Genomics has a 1-year low of $29.12 and a 1-year high of $63.57.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Thursday, February 15th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.05). The company had revenue of $183.98 million for the quarter, compared to analysts’ expectations of $182.73 million. 10x Genomics had a negative net margin of 41.17% and a negative return on equity of 28.82%. 10x Genomics’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. As a group, research analysts forecast that 10x Genomics will post -1.47 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Serge Saxonov sold 4,660 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $44.00, for a total value of $205,040.00. Following the completion of the transaction, the chief executive officer now owns 842,900 shares of the company’s stock, valued at approximately $37,087,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Serge Saxonov sold 4,660 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $44.00, for a total value of $205,040.00. Following the completion of the transaction, the chief executive officer now owns 842,900 shares of the company’s stock, valued at approximately $37,087,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Justin J. Mcanear sold 1,865 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly 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. In 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 and other institutional investors have recently made changes to their positions in the stock. Mirador Capital Partners LP boosted its holdings in shares of 10x Genomics by 3.4% during the 1st quarter. Mirador Capital Partners LP now owns 28,825 shares of the company’s stock valued at $1,082,000 after purchasing an additional 940 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of 10x Genomics by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 9,011,332 shares of the company’s stock valued at $504,274,000 after purchasing an additional 107,815 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of 10x Genomics by 0.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 372,873 shares of the company’s stock valued at $20,866,000 after purchasing an additional 1,815 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of 10x Genomics by 2.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 38,446 shares of the company’s stock valued at $2,151,000 after acquiring an additional 1,051 shares during the last quarter. Finally, Employees Retirement System of Texas bought a new position in shares of 10x Genomics in the 4th quarter valued at about $463,000. Institutional investors 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.