10x Genomics (NASDAQ:TXG) Price Target Cut to $9.00 by Analysts at JPMorgan Chase & Co.

10x Genomics (NASDAQ:TXG) had its target price cut by JPMorgan Chase & Co. from $12.00 to $9.00 in a research report report published on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also recently commented on TXG. Weiss Ratings reissued a “sell (e+)” rating on shares of 10x Genomics in a research note on Thursday, April 24th. Leerink Partners cut 10x Genomics from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $25.00 to $12.00 in a report on Thursday, February 13th. Morgan Stanley cut their target price on 10x Genomics from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. UBS Group lowered their price target on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Finally, Barclays decreased their target price on 10x Genomics from $15.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $18.62.

10x Genomics Trading Up 2.8 %

Shares of NASDAQ:TXG opened at $8.87 on Friday. The firm’s 50 day moving average is $8.95 and its two-hundred day moving average is $12.58. The firm has a market capitalization of $1.08 billion, a P/E ratio of -5.84 and a beta of 1.94. 10x Genomics has a 52 week low of $6.78 and a 52 week high of $28.25.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.08). 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. Analysts predict that 10x Genomics will post -1.43 EPS for the current year.

Insider Activity

In related news, CEO Serge Saxonov sold 5,092 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $11.07, for a total transaction of $56,368.44. Following the transaction, the chief executive officer now directly owns 879,482 shares of the company’s stock, valued at approximately $9,735,865.74. The trade was a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Benjamin J. Hindson sold 4,573 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $50,623.11. Following the sale, the insider now owns 335,324 shares of the company’s stock, valued at $3,712,036.68. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Barclays PLC increased its stake in shares of 10x Genomics by 11.7% in the third quarter. Barclays PLC now owns 602,536 shares of the company’s stock worth $13,605,000 after acquiring an additional 63,079 shares during the last quarter. JPMorgan Chase & Co. increased its position in 10x Genomics by 355.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 355,488 shares of the company’s stock worth $8,027,000 after purchasing an additional 277,355 shares during the last quarter. Diversified Trust Co acquired a new position in 10x Genomics in the 4th quarter worth about $511,000. Green Alpha Advisors LLC purchased a new stake in shares of 10x Genomics during the 4th quarter worth about $355,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of 10x Genomics during the 4th quarter valued at about $26,308,000. 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.