UBS Group Trims 10x Genomics (NASDAQ:TXG) Target Price to $25.00

10x Genomics (NASDAQ:TXG) had its target price cut by UBS Group from $30.00 to $25.00 in a research report report published on Tuesday morning, Marketbeat reports. They currently have a neutral rating on the stock.

Several other research analysts have also issued reports on TXG. Guggenheim reiterated a neutral rating on shares of 10x Genomics in a research note on Tuesday, June 25th. Canaccord Genuity Group lowered their target price on shares of 10x Genomics from $50.00 to $32.00 and set a buy rating for the company in a report on Tuesday, July 23rd. JPMorgan Chase & Co. cut 10x Genomics from an overweight rating to a neutral rating and dropped their price target for the stock from $40.00 to $20.00 in a research report on Thursday, July 18th. Bank of America lowered their price objective on 10x Genomics from $36.00 to $25.00 and set a neutral rating for the company in a research note on Thursday, July 18th. Finally, Stifel Nicolaus cut their target price on 10x Genomics from $53.00 to $25.00 and set a buy rating on the stock in a research note on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $31.46.

10x Genomics Trading Up 14.6 %

NASDAQ:TXG opened at $22.64 on Tuesday. The company has a 50-day moving average price of $19.41 and a 200-day moving average price of $29.62. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of -10.15 and a beta of 1.84. 10x Genomics has a 12 month low of $15.28 and a 12 month high of $57.90.

Insider Activity

In related news, CEO Serge Saxonov sold 4,877 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $118,511.10. Following the transaction, the chief executive officer now directly 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 SEC, which is available through the SEC website. In related news, CEO Serge Saxonov sold 4,877 shares of the company’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 $118,511.10. Following the completion of the transaction, 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 available at this link. Also, CFO Justin J. Mcanear sold 2,936 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total value of $71,344.80. Following the completion of the transaction, the chief financial officer now owns 146,203 shares in the company, valued at $3,552,732.90. The disclosure for this sale can be found here. Insiders sold 11,900 shares of company stock valued at $289,170 in the last quarter. 10.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On 10x Genomics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ARK Investment Management LLC boosted its position in shares of 10x Genomics by 48.2% during the second quarter. ARK Investment Management LLC now owns 9,313,763 shares of the company’s stock valued at $181,153,000 after buying an additional 3,029,951 shares during the period. Vanguard Group Inc. lifted its holdings in shares of 10x Genomics by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,101,536 shares of the company’s stock worth $341,581,000 after buying an additional 90,204 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of 10x Genomics by 69.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,143,067 shares of the company’s stock worth $119,483,000 after buying an additional 2,521,289 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of 10x Genomics by 17.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,657,227 shares of the company’s stock valued at $137,257,000 after buying an additional 553,053 shares during the period. Finally, Nikko Asset Management Americas Inc. raised its holdings in shares of 10x Genomics by 58.6% in the first quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock valued at $135,780,000 after acquiring an additional 1,338,248 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

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.