10x Genomics (NASDAQ:TXG) Price Target Lowered to $15.00 at Citigroup

10x Genomics (NASDAQ:TXG) had its price target lowered by Citigroup from $20.00 to $15.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on TXG. Barclays lowered their target price on 10x Genomics from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. UBS Group lowered their price objective on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Leerink Partners downgraded shares of 10x Genomics from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $25.00 to $12.00 in a research report on Thursday, February 13th. Morgan Stanley lowered their price target on shares of 10x Genomics from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Finally, Leerink Partnrs lowered 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.21.

10x Genomics Stock Performance

Shares of TXG stock opened at $11.47 on Tuesday. 10x Genomics has a 52-week low of $9.27 and a 52-week high of $42.85. The company has a 50-day simple moving average of $13.68 and a two-hundred day simple moving average of $16.51. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -7.55 and a beta of 1.93.

10x Genomics (NASDAQ:TXG) last released its earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.08). 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. On average, sell-side analysts forecast that 10x Genomics will post -1.43 EPS for the current fiscal year.

Insider Buying and Selling at 10x Genomics

In other news, Director Alan Mateo purchased 40,000 shares of the business’s 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 directly owns 61,691 shares in the company, valued at approximately $687,237.74. This trade represents a 184.41 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Benjamin J. Hindson sold 4,573 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $50,623.11. Following the transaction, the insider now owns 335,324 shares of the company’s stock, valued at $3,712,036.68. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.03% of the company’s stock.

Institutional Trading of 10x Genomics

Several institutional investors and hedge funds have recently modified their holdings of TXG. FMR LLC increased its position 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 worth $193,206,000 after purchasing an additional 86,455 shares during the last quarter. ARK Investment Management LLC increased its holdings in shares of 10x Genomics by 11.1% in the 4th quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock worth $171,517,000 after buying an additional 1,193,712 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of 10x Genomics by 3.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,373,212 shares of the company’s stock valued at $143,907,000 after buying an additional 230,145 shares in the last quarter. RA Capital Management L.P. bought a new stake in shares of 10x Genomics during the 4th quarter worth $47,092,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in 10x Genomics by 10.1% in the fourth 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 in the last quarter. Hedge funds and other 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.