10x Genomics (NASDAQ:TXG) Price Target Cut to $26.00 by Analysts at The Goldman Sachs Group

10x Genomics (NASDAQ:TXG) had its price target reduced by The Goldman Sachs Group from $30.00 to $26.00 in a research report released on Wednesday, Benzinga reports. They currently have a sell rating on the stock.

A number of other research firms also recently weighed in on TXG. TD Cowen downgraded shares of 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 research report on Wednesday. Bank of America cut their target price on 10x Genomics from $45.00 to $36.00 and set a neutral rating for the company in a research note on Wednesday. Stifel Nicolaus decreased their price target on 10x Genomics from $63.00 to $53.00 and set a buy rating on the stock in a research report on Wednesday. Canaccord Genuity Group lowered their price target on shares of 10x Genomics from $65.00 to $50.00 and set a buy rating on the stock in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of 10x Genomics from $60.00 to $55.00 and set a buy rating for the company in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $48.50.

10x Genomics Stock Down 8.1 %

Shares of NASDAQ:TXG opened at $26.92 on Wednesday. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of -12.07 and a beta of 1.94. The stock’s 50 day moving average is $36.94 and its 200-day moving average is $42.40. 10x Genomics has a twelve month low of $24.60 and a twelve month high of $63.57.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Tuesday, April 30th. The company reported ($0.50) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.50). The company had revenue of $141.01 million for the quarter, compared to analyst estimates of $142.24 million. 10x Genomics had a negative net margin of 42.20% and a negative return on equity of 30.43%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.44) EPS. Equities research analysts anticipate that 10x Genomics will post -1.47 earnings per share for the current fiscal year.

Insider Buying and Selling at 10x Genomics

In other news, CEO Serge Saxonov sold 2,821 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $39,275,930.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Serge Saxonov sold 2,821 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total transaction of $130,725.14. Following the completion of the sale, 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 document filed with the SEC, which is accessible through the SEC website. Also, insider Benjamin J. Hindson sold 2,613 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total value of $121,086.42. Following the transaction, the insider now owns 283,059 shares in the company, valued at approximately $13,116,954.06. The disclosure for this sale can be found here. Insiders have sold 12,959 shares of company stock worth $592,806 over the last 90 days. Corporate insiders own 10.65% of the company’s stock.

Hedge Funds Weigh In On 10x Genomics

A number of large investors have recently made changes to their positions in the company. SVB Wealth LLC lifted its stake in shares of 10x Genomics by 92.1% during the 4th 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 during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in 10x Genomics by 32.9% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,283,530 shares of the company’s stock worth $127,786,000 after buying an additional 565,059 shares during the period. Bleakley Financial Group LLC bought a new position in 10x Genomics in the 4th quarter worth about $234,000. ARK Investment Management LLC increased its holdings in shares of 10x Genomics by 35.0% in the 4th 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 period. Finally, Vanguard Group Inc. lifted its stake in shares of 10x Genomics by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 8,903,517 shares of the company’s stock worth $367,270,000 after purchasing an additional 354,921 shares during the last quarter. 84.68% of the stock is 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.