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

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

A number of other analysts have also recently weighed in on the stock. TD Cowen cut shares of 10x Genomics from a buy rating to a hold rating and reduced their target price for the stock from $57.00 to $32.00 in a report on Wednesday. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of 10x Genomics from $60.00 to $55.00 and set a buy rating for the company in a research note on Thursday, April 18th. Canaccord Genuity Group decreased their price objective on shares of 10x Genomics from $65.00 to $50.00 and set a buy rating for the company in a research note on Monday, April 29th. Finally, Barclays decreased their price objective 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. One 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. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $48.50.

10x Genomics Trading Up 4.5 %

10x Genomics 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 firm has a 50 day simple moving average of $35.81 and a 200-day simple moving average of $42.10.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Tuesday, April 30th. The company reported ($0.50) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.50). The firm had revenue of $141.01 million during the quarter, compared to analysts’ expectations of $142.24 million. 10x Genomics had a negative net margin of 42.20% and a negative return on equity of 30.85%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.44) earnings per share. As a group, equities analysts predict that 10x Genomics will post -1.55 EPS for the current year.

Insiders Place Their Bets

In other 10x Genomics news, CEO Serge Saxonov sold 4,660 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 842,900 shares in the company, valued at approximately $37,087,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Serge Saxonov sold 4,660 shares of the firm’s 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 transaction, the chief executive officer now owns 842,900 shares in the company, valued at approximately $37,087,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Justin J. Mcanear sold 1,865 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total transaction of $86,424.10. Following the transaction, the chief financial officer now owns 95,240 shares in the company, valued at approximately $4,413,421.60. The disclosure for this sale can be found here. Insiders sold a total of 12,959 shares of company stock worth $592,806 in the last quarter. 10.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its holdings in 10x Genomics by 113.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock worth $26,000 after acquiring an additional 371 shares during the period. UMB Bank n.a. raised its holdings in 10x Genomics by 51.6% in the 4th quarter. UMB Bank n.a. now owns 782 shares of the company’s stock worth $44,000 after acquiring an additional 266 shares during the period. Harvest Fund Management Co. Ltd bought a new position in 10x Genomics in the 4th quarter worth $66,000. Van ECK Associates Corp raised its holdings in 10x Genomics by 23.4% in 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 during the period. Finally, Powell Investment Advisors LLC bought a new position in 10x Genomics in the 4th quarter worth $200,000. 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.