Barclays Has Lowered Expectations for 10x Genomics (NASDAQ:TXG) Stock Price

10x Genomics (NASDAQ:TXG) had its price target reduced by Barclays from $15.00 to $12.00 in a research note published on Thursday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities analysts also recently issued reports on the company. Leerink Partnrs downgraded 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. reduced their price target on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of 10x Genomics in a report on Tuesday. Stifel Nicolaus dropped their target price on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Morgan Stanley decreased their price target on shares of 10x Genomics from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $19.79.

10x Genomics Stock Performance

TXG opened at $7.70 on Thursday. 10x Genomics has a twelve month low of $6.78 and a twelve month high of $36.46. The firm has a market cap of $941.73 million, a price-to-earnings ratio of -5.07 and a beta of 2.01. The firm’s 50-day simple moving average is $10.57 and its 200-day simple moving average is $14.05.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data 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 return on equity of 25.40% and a negative net margin of 29.90%. As a group, sell-side analysts anticipate that 10x Genomics will post -1.43 EPS for the current fiscal year.

Insider Transactions at 10x Genomics

In related news, Director Alan Mateo acquired 40,000 shares of the stock in a transaction dated Friday, February 21st. The stock was bought at an average price of $11.14 per share, with a total value of $445,600.00. Following the completion of the transaction, the director now directly owns 61,691 shares of the company’s stock, valued at approximately $687,237.74. The trade was a 184.41 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Benjamin J. Hindson sold 4,573 shares of the firm’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 $50,623.11. Following the sale, the insider now owns 335,324 shares in the company, valued at approximately $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 corporate insiders.

Hedge Funds Weigh In On 10x Genomics

Large investors have recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of 10x Genomics by 0.6% in the fourth quarter. FMR LLC now owns 13,454,434 shares of the company’s stock valued at $193,206,000 after purchasing an additional 86,455 shares in the last quarter. ARK Investment Management LLC raised its position in 10x Genomics by 11.1% in the 4th quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock valued at $171,517,000 after buying an additional 1,193,712 shares during the last quarter. RA Capital Management L.P. bought a new stake in 10x Genomics in the 4th quarter valued at approximately $47,092,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in 10x Genomics by 10.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,116,573 shares of the company’s stock worth $30,394,000 after acquiring an additional 193,588 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of 10x Genomics during the 4th quarter worth approximately $26,308,000. Institutional investors own 84.68% of the company’s stock.

About 10x Genomics

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.