10x Genomics (NASDAQ:TXG) Given New $15.00 Price Target at Citigroup

10x Genomics (NASDAQ:TXG) had its price target cut by Citigroup from $20.00 to $15.00 in a report issued on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

TXG has been the topic of several other reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a report on Wednesday, February 19th. Morgan Stanley decreased their price objective on 10x Genomics from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Leerink Partners cut 10x Genomics from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $25.00 to $12.00 in a report on Thursday, February 13th. Stifel Nicolaus decreased their price objective on 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Leerink Partnrs cut 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 13th. One equities research 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, 10x Genomics has a consensus rating of “Hold” and an average target price of $20.21.

10x Genomics Trading Up 6.8 %

NASDAQ TXG opened at $10.52 on Tuesday. The stock’s 50 day moving average is $13.82 and its 200 day moving average is $16.59. 10x Genomics has a 12 month low of $9.27 and a 12 month high of $44.43. The stock has a market cap of $1.29 billion, a PE ratio of -6.92 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates 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%. On average, analysts forecast that 10x Genomics will post -1.43 EPS for the current fiscal year.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics 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 value of $56,368.44. Following the transaction, the chief executive officer now owns 879,482 shares of the company’s stock, valued at $9,735,865.74. This represents a 0.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Benjamin J. Hindson sold 4,573 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $11.07, for a total value of $50,623.11. Following the completion of the transaction, the insider now directly owns 335,324 shares in the company, valued at $3,712,036.68. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. 10.03% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On 10x Genomics

A number of hedge funds and other institutional investors have recently made changes to their positions in TXG. Creative Planning bought a new position in shares of 10x Genomics during the 3rd quarter worth $214,000. International Assets Investment Management LLC bought a new stake in 10x Genomics during the third quarter valued at about $438,000. Wealth Enhancement Advisory Services LLC boosted its position in 10x Genomics by 84.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 23,952 shares of the company’s stock valued at $541,000 after purchasing an additional 10,935 shares in the last quarter. ARK Investment Management LLC boosted its position in 10x Genomics by 15.4% during the third quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company’s stock valued at $242,743,000 after purchasing an additional 1,436,582 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in 10x Genomics during the third quarter valued at about $35,000. Institutional investors 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.