10x Genomics (NASDAQ:TXG) PT Lowered to $16.00

10x Genomics (NASDAQ:TXGGet Free Report) had its price target lowered by analysts at The Goldman Sachs Group from $26.00 to $16.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 1.85% from the company’s previous close.

TXG has been the topic of several other research reports. Jefferies Financial Group started coverage on shares of 10x Genomics in a research report on Monday, June 3rd. They set a “hold” rating and a $24.00 price target on the stock. TD Cowen downgraded 10x Genomics from a “buy” rating to a “hold” rating and reduced their target price for the company from $57.00 to $32.00 in a report on Wednesday, May 1st. Stifel Nicolaus lowered their price target on 10x Genomics from $63.00 to $53.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Barclays reduced their price objective on 10x Genomics from $36.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, June 28th. Finally, Guggenheim reiterated a “neutral” rating on shares of 10x Genomics in a research report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, 10x Genomics has an average rating of “Hold” and an average price target of $41.92.

View Our Latest Stock Report on TXG

10x Genomics Stock Down 13.9 %

Shares of NASDAQ:TXG opened at $15.71 on Tuesday. The stock has a market cap of $1.87 billion, a PE ratio of -7.04 and a beta of 1.84. 10x Genomics has a 12-month low of $15.28 and a 12-month high of $63.57. The business has a 50 day moving average of $22.10 and a 200-day moving average of $34.90.

10x Genomics (NASDAQ:TXGGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported ($0.50) earnings per share for the quarter, hitting the consensus estimate of ($0.50). 10x Genomics had a negative net margin of 42.20% and a negative return on equity of 30.85%. The business had revenue of $141.01 million during the quarter, compared to analysts’ expectations of $142.24 million. During the same quarter in the previous year, the company earned ($0.44) EPS. The business’s revenue was up 5.0% on a year-over-year basis. Equities research analysts expect that 10x Genomics will post -1.53 earnings per share for the current year.

Insider Transactions at 10x Genomics

In related news, CEO Serge Saxonov sold 4,877 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total transaction of $118,511.10. Following the sale, the chief executive officer now owns 889,641 shares of the company’s stock, valued at approximately $21,618,276.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other 10x Genomics news, insider Benjamin J. Hindson sold 4,087 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total value of $99,314.10. Following the completion of the transaction, the insider now directly owns 350,055 shares of the company’s stock, valued at approximately $8,506,336.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Serge Saxonov sold 4,877 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total transaction of $118,511.10. Following the transaction, the chief executive officer now owns 889,641 shares of the company’s stock, valued at $21,618,276.30. The disclosure for this sale can be found here. Insiders sold 11,900 shares of company stock valued at $289,170 over the last three months. Company insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Several large investors have recently added to or reduced their stakes in TXG. Venrock Management VI LLC bought a new position in 10x Genomics in the 4th quarter worth about $117,894,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in 10x Genomics by 58.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,621,778 shares of the company’s stock worth $135,925,000 after acquiring an additional 1,338,248 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its holdings in shares of 10x Genomics by 58.6% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock worth $135,780,000 after purchasing an additional 1,338,248 shares in the last quarter. ARK Investment Management LLC grew its position in 10x Genomics by 35.0% during the fourth quarter. ARK Investment Management LLC now owns 4,041,287 shares of the company’s stock valued at $226,150,000 after acquiring an additional 1,047,827 shares during the last quarter. Finally, SVB Wealth LLC raised its stake in shares of 10x Genomics by 92.1% during the fourth quarter. SVB Wealth LLC now owns 1,446,552 shares of the company’s stock worth $80,949,000 after acquiring an additional 693,422 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

10x Genomics Company Profile

(Get Free Report)

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.

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Analyst Recommendations for 10x Genomics (NASDAQ:TXG)

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