10x Genomics (NASDAQ:TXG) Given New $25.00 Price Target at Stifel Nicolaus

10x Genomics (NASDAQ:TXG) had its target price cut by Stifel Nicolaus from $53.00 to $25.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently weighed in on the stock. Jefferies Financial Group initiated coverage on shares of 10x Genomics in a research report on Monday, June 3rd. They set a hold rating and a $24.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lowered shares of 10x Genomics from a buy rating to a hold rating and reduced their price objective for the company from $55.00 to $25.00 in a research note on Wednesday, July 10th. 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 report on Monday, April 29th. TD Cowen cut shares of 10x Genomics from a buy rating to a hold rating and decreased their price objective for the stock from $57.00 to $32.00 in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group decreased their price objective on shares of 10x Genomics from $26.00 to $16.00 and set a sell rating for the company in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $37.57.

10x Genomics Stock Performance

10x Genomics stock opened at $16.70 on Tuesday. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -7.49 and a beta of 1.84. 10x Genomics has a 1 year low of $15.28 and a 1 year high of $63.57. The firm’s 50 day moving average price is $20.90 and its two-hundred day moving average price is $33.17.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Tuesday, April 30th. The company reported ($0.50) earnings per share (EPS) 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 firm had revenue of $141.01 million for the quarter, compared to analyst estimates of $142.24 million. During the same quarter in the previous year, the business posted ($0.44) earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, equities analysts predict that 10x Genomics will post -1.53 EPS for the current fiscal year.

Insider Buying and Selling at 10x Genomics

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

Institutional Investors Weigh In On 10x Genomics

Hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its stake in shares of 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. 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 buying an additional 266 shares during the period. Covestor Ltd lifted its stake in shares of 10x Genomics by 501.7% in the first quarter. Covestor Ltd now owns 1,047 shares of the company’s stock valued at $39,000 after buying an additional 873 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of 10x Genomics in the fourth quarter valued at about $66,000. Finally, Headlands Technologies LLC bought a new stake in shares of 10x Genomics in the first quarter valued at about $71,000. 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.