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

10x Genomics (NASDAQ:TXG) had its price objective reduced by equities researchers at Deutsche Bank Aktiengesellschaft from $60.00 to $55.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 88.61% from the stock’s previous close.

Several other equities analysts have also commented on the stock. Stifel Nicolaus decreased their price objective on shares of 10x Genomics from $68.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Barclays cut their target price on shares of 10x Genomics from $55.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, 10x Genomics currently has an average rating of “Moderate Buy” and an average price target of $60.22.

10x Genomics Stock Performance

Shares of TXG stock opened at $29.16 on Thursday. The firm’s 50 day moving average price is $40.59 and its 200-day moving average price is $43.11. 10x Genomics has a one year low of $29.12 and a one year high of $63.57. The firm has a market cap of $3.47 billion, a P/E ratio of -13.44 and a beta of 1.90.

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

Insider Buying and Selling at 10x Genomics

In other news, CEO Serge Saxonov sold 1,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $49.53, for a total value of $49,530.00. Following the completion of the transaction, the chief executive officer now owns 855,381 shares in the company, valued at approximately $42,367,020.93. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Serge Saxonov sold 1,000 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $49.53, for a total transaction of $49,530.00. Following the completion of the sale, the chief executive officer now owns 855,381 shares in the company, valued at approximately $42,367,020.93. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Justin J. Mcanear sold 1,865 shares of the 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 sale, the chief financial officer now 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 three months, insiders have sold 12,959 shares of company stock valued at $592,806. Insiders own 10.65% of the company’s stock.

Institutional Trading of 10x Genomics

Several hedge funds have recently made changes to their positions in TXG. FMR LLC lifted its stake in shares of 10x Genomics by 56.4% in the 3rd quarter. FMR LLC now owns 12,666,998 shares of the company’s stock worth $522,514,000 after acquiring an additional 4,565,400 shares during the period. Venrock Management VI LLC acquired a new stake in shares of 10x Genomics in the fourth quarter valued at approximately $117,894,000. BlackRock Inc. boosted its position in 10x Genomics by 14.2% during the first quarter. BlackRock Inc. now owns 9,156,992 shares of the company’s stock worth $696,572,000 after acquiring an additional 1,138,358 shares during the last quarter. ARK Investment Management LLC grew its stake in 10x Genomics by 35.0% in the 4th quarter. ARK Investment Management LLC now owns 4,041,287 shares of the company’s stock worth $226,150,000 after acquiring an additional 1,047,827 shares during the period. Finally, Millennium Management LLC raised its holdings in 10x Genomics by 467.3% in the 4th quarter. Millennium Management LLC now owns 1,213,394 shares of the company’s stock valued at $44,216,000 after acquiring an additional 999,487 shares during the last quarter. Institutional investors and hedge funds 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.