10x Genomics (NASDAQ:TXG) Stock Gets Price Target Reduction from Barclays

10x Genomics (NASDAQ:TXG) had its target price cut by Barclays from $110.00 to $70.00 in a research note published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also commented on TXG. Royal Bank Of Canada started coverage on shares of 10x Genomics in a research note on Tuesday, September 1st. They set a “sector perform” rating and a $70.00 price objective on the stock. Argus initiated coverage on shares of 10x Genomics in a report on Monday, September 28th. They set a “buy” rating and a $110.00 target price for the company. Leerink Partners lifted their target price on shares of 10x Genomics from $40.00 to $90.00 and gave the company a “market perform” rating in a report on Tuesday, September 29th. Citigroup boosted their price target on 10x Genomics from $50.00 to $60.00 and gave the stock a “hold” rating in a research report on Friday, November 6th. Finally, Piper Sandler upped their price target on 10x Genomics from $47.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, September 28th. Five analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $68.40.

10x Genomics Price Performance

TXG opened at $62.05 on Monday. 10x Genomics has a one year low of $15.12 and a one year high of $102.81. The business has a 50 day simple moving average of $74.07 and a two-hundred day simple moving average of $42.20. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of -119.33 and a beta of 2.03.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.12. 10x Genomics had a negative return on equity of 8.19% and a negative net margin of 10.84%. The company had revenue of $150.67 million during the quarter, compared to analyst estimates of $147.96 million. During the same quarter last year, the firm posted ($0.22) earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. As a group, sell-side analysts expect that 10x Genomics will post -0.74 EPS for the current fiscal year.

Insider Transactions at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 25,000 shares of the business’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $81.22, for a total transaction of $2,030,500.00. Following the completion of the sale, the chief executive officer directly owned 1,050,249 shares in the company, valued at approximately $85,301,223.78. The trade was a 2.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Adam Taich sold 46,388 shares of the stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $64.57, for a total value of $2,995,273.16. Following the completion of the transaction, the chief financial officer directly owned 316,344 shares in the company, valued at approximately $20,426,332.08. This represents a 12.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 159,333 shares of company stock valued at $10,655,070. Company insiders own 8.84% of the company’s stock.

Institutional Trading of 10x Genomics

Large investors have recently added to or reduced their stakes in the business. Quantinno Capital Management LP boosted its stake in shares of 10x Genomics by 16.0% during the 1st quarter. Quantinno Capital Management LP now owns 5,411,761 shares of the company’s stock worth $114,892,000 after acquiring an additional 744,558 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in 10x Genomics by 34.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,042,950 shares of the company’s stock worth $43,357,000 after purchasing an additional 525,369 shares during the period. Quantedge Capital Pte Ltd lifted its position in 10x Genomics by 104.2% during the first quarter. Quantedge Capital Pte Ltd now owns 416,553 shares of the company’s stock valued at $8,843,000 after purchasing an additional 212,600 shares in the last quarter. Hsbc Holdings PLC purchased a new position in 10x Genomics during the first quarter valued at $5,945,000. Finally, Swiss National Bank lifted its position in 10x Genomics by 2.2% during the first quarter. Swiss National Bank now owns 207,400 shares of the company’s stock valued at $4,403,000 after purchasing an additional 4,400 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

About 10x Genomics

10x Genomics, Inc. develops technology for studying biological systems at single-cell and spatial resolution. Its instruments, consumables and software help researchers analyze gene expression and other features of cells while preserving information about their location within tissue. The company’s product platforms include Chromium for single-cell analysis, Visium for spatial gene-expression analysis and Xenium for in situ analysis of gene activity within tissue samples. Its tools are used in areas such as immunology, neuroscience, cancer research and drug discovery.