10x Genomics (NASDAQ:TXG) Given New $30.00 Price Target at UBS Group

10x Genomics (NASDAQ:TXG) had its target price cut by UBS Group from $52.00 to $30.00 in a report published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts also recently weighed in on TXG. Deutsche Bank Aktiengesellschaft dropped their price target on 10x Genomics from $60.00 to $55.00 and set a buy rating on the stock in a research note on Thursday, April 18th. Bank of America cut their price target on shares of 10x Genomics from $45.00 to $36.00 and set a neutral rating on the stock in a report on Wednesday. TD Cowen cut shares of 10x Genomics from a buy rating to a hold rating and decreased their price objective for the company from $57.00 to $32.00 in a research note on Wednesday. Stifel Nicolaus cut their price objective on shares of 10x Genomics from $63.00 to $53.00 and set a buy rating on the stock in a research note on Wednesday. Finally, The Goldman Sachs Group cut their price target on 10x Genomics from $30.00 to $26.00 and set a sell rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, 10x Genomics has an average rating of Moderate Buy and an average price target of $48.50.

10x Genomics Stock Performance

NASDAQ:TXG opened at $27.48 on Wednesday. The company’s 50-day simple moving average is $35.81 and its 200-day simple moving average is $42.10. 10x Genomics has a fifty-two week low of $24.60 and a fifty-two week high of $63.57.

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

Insider Activity

In other 10x Genomics news, CEO Serge Saxonov sold 2,821 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $46.34, for a total transaction of $130,725.14. Following the transaction, the chief executive officer now directly owns 847,560 shares in the company, valued at $39,275,930.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 10x Genomics news, CFO Justin J. Mcanear sold 1,865 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 95,240 shares in the company, valued at approximately $4,413,421.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Serge Saxonov sold 2,821 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $46.34, for a total transaction of $130,725.14. Following the completion of the transaction, the chief executive officer now owns 847,560 shares of the company’s stock, valued at approximately $39,275,930.40. 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. Company insiders own 10.65% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position in shares of 10x Genomics by 113.5% during 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 in the last quarter. UMB Bank n.a. increased its stake in 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 purchasing an additional 266 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in 10x Genomics during the fourth quarter worth approximately $66,000. Van ECK Associates Corp lifted its position in shares of 10x Genomics by 23.4% during the 4th quarter. Van ECK Associates Corp now owns 1,908 shares of the company’s stock worth $107,000 after buying an additional 362 shares during the last quarter. Finally, Powell Investment Advisors LLC acquired a new position in shares of 10x Genomics in the 4th quarter valued at $200,000. 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.