Deutsche Bank Aktiengesellschaft Trims 10x Genomics (NASDAQ:TXG) Target Price to $55.00

10x Genomics (NASDAQ:TXG) had its price target lowered by Deutsche Bank Aktiengesellschaft from $60.00 to $55.00 in a report published on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

TXG has been the subject of several other research reports. Stifel Nicolaus cut their price target on 10x Genomics from $68.00 to $63.00 and set a buy rating for the company in a research note on Friday, February 16th. Barclays cut their target price on shares of 10x Genomics from $55.00 to $45.00 and set an overweight rating for the company in a research report on Wednesday, April 10th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $60.22.

10x Genomics Stock Down 3.5 %

TXG opened at $27.94 on Thursday. 10x Genomics has a twelve month low of $26.75 and a twelve month high of $63.57. The company’s 50-day moving average price is $39.76 and its two-hundred day moving average price is $42.95. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of -12.88 and a beta of 1.90.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.05). 10x Genomics had a negative net margin of 41.17% and a negative return on equity of 28.82%. The firm had revenue of $183.98 million during the quarter, compared to analysts’ expectations of $182.73 million. During the same quarter in the previous year, the company posted ($0.15) EPS. 10x Genomics’s revenue for the quarter was up 17.8% on a year-over-year basis. As a group, sell-side analysts anticipate that 10x Genomics will post -1.47 earnings per share for the current year.

Insider Activity

In other news, insider Benjamin J. Hindson sold 2,613 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total value of $121,086.42. Following the completion of the transaction, the insider now directly owns 283,059 shares in the company, valued at $13,116,954.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Serge Saxonov sold 1,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $49.53, for a total transaction of $49,530.00. Following the completion of the transaction, the chief executive officer now directly owns 855,381 shares in the company, valued at $42,367,020.93. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Benjamin J. Hindson sold 2,613 shares of the firm’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 completion of the sale, the insider now directly 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 a total of 12,959 shares of company stock worth $592,806 over the last ninety days. Company insiders own 10.65% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James & Associates grew its stake in 10x Genomics by 19.3% in the 1st quarter. Raymond James & Associates now owns 53,009 shares of the company’s stock worth $4,032,000 after buying an additional 8,570 shares in the last quarter. US Bancorp DE lifted its holdings in shares of 10x Genomics by 39.6% during the 1st quarter. US Bancorp DE now owns 9,711 shares of the company’s stock worth $739,000 after acquiring an additional 2,753 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of 10x Genomics by 617.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,046 shares of the company’s stock worth $155,000 after acquiring an additional 1,761 shares during the last quarter. MetLife Investment Management LLC purchased a new position in 10x Genomics in the first quarter worth $416,000. Finally, BlackRock Inc. increased its stake in 10x Genomics by 14.2% in the first quarter. BlackRock Inc. now owns 9,156,992 shares of the company’s stock valued at $696,572,000 after acquiring an additional 1,138,358 shares during the last quarter. Hedge funds and other 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.