Barclays Cuts 10x Genomics (NASDAQ:TXG) Price Target to $12.00

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

A number of other equities research analysts also recently issued reports on TXG. Weiss Ratings reiterated a “sell (e+)” rating on shares of 10x Genomics in a research report on Tuesday, April 8th. Leerink Partnrs cut shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 13th. Morgan Stanley reduced their price objective on 10x Genomics from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. JPMorgan Chase & Co. decreased their price objective on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Finally, Citigroup dropped their price target on 10x Genomics from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.79.

10x Genomics Stock Performance

Shares of TXG opened at $8.01 on Thursday. The company’s 50-day simple moving average is $10.44 and its 200-day simple moving average is $13.96. The stock has a market capitalization of $979.64 million, a PE ratio of -5.27 and a beta of 2.01. 10x Genomics has a 1 year low of $6.78 and a 1 year high of $36.15.

10x Genomics (NASDAQ:TXG) last issued 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 return on equity of 25.40% and a negative net margin of 29.90%. On average, sell-side analysts predict that 10x Genomics will post -1.43 earnings per share for the current year.

Insider Activity at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 5,092 shares of 10x Genomics stock in a transaction dated 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 in the company, valued at $9,735,865.74. The trade was a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alan Mateo bought 40,000 shares of the stock in a transaction on Friday, February 21st. The stock was purchased at an average cost of $11.14 per share, with a total value of $445,600.00. Following the acquisition, the director now owns 61,691 shares in the company, valued at approximately $687,237.74. This represents a 184.41 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 10.03% of the company’s stock.

Hedge Funds Weigh In On 10x Genomics

Several institutional investors have recently added to or reduced their stakes in TXG. Verition Fund Management LLC grew its position in 10x Genomics by 26.3% in the 3rd quarter. Verition Fund Management LLC now owns 13,860 shares of the company’s stock worth $313,000 after purchasing an additional 2,890 shares in the last quarter. HighTower Advisors LLC bought a new position in 10x Genomics during the third quarter valued at about $430,000. Stifel Financial Corp increased its holdings in 10x Genomics by 56.2% during the third quarter. Stifel Financial Corp now owns 16,369 shares of the company’s stock worth $370,000 after buying an additional 5,890 shares during the last quarter. State Street Corp raised its position in 10x Genomics by 7.1% in the third quarter. State Street Corp now owns 1,750,643 shares of the company’s stock worth $39,530,000 after acquiring an additional 116,534 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in 10x Genomics in the third quarter valued at about $402,000. 84.68% of the stock is owned by institutional investors and hedge funds.

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.