10x Genomics (NASDAQ:TXG) PT Lowered to $36.00 at Bank of America

10x Genomics (NASDAQ:TXG) had its target price lowered by Bank of America from $45.00 to $36.00 in a report published on Wednesday morning, Benzinga reports. Bank of America currently has a neutral rating on the stock.

Several other analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their price target on 10x Genomics from $60.00 to $55.00 and set a buy rating for the company in a report on Thursday, April 18th. Canaccord Genuity Group reduced their target price on 10x Genomics from $65.00 to $50.00 and set a buy rating for the company in a report on Monday, April 29th. Barclays decreased their target price on shares of 10x Genomics from $55.00 to $45.00 and set an overweight rating on the stock in a research report on Wednesday, April 10th. TD Cowen downgraded shares of 10x Genomics from a buy rating to a hold rating and cut their price target for the company from $57.00 to $32.00 in a report on Wednesday. Finally, Stifel Nicolaus decreased their price objective on shares of 10x Genomics from $63.00 to $53.00 and set a buy rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $48.50.

10x Genomics Stock Performance

Shares of TXG opened at $27.48 on Wednesday. The stock has a market capitalization of $3.27 billion, a P/E ratio of -12.24 and a beta of 1.94. 10x Genomics has a 1 year low of $24.60 and a 1 year high of $63.57. The company’s fifty day moving average is $36.16 and its two-hundred day moving average is $42.18.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.50) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.50). The business had revenue of $141.01 million for the quarter, compared to analyst estimates of $142.24 million. 10x Genomics had a negative net margin of 42.20% and a negative return on equity of 30.85%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.44) earnings per share. Sell-side analysts predict that 10x Genomics will post -1.47 EPS for the current year.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 1,000 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $49.53, for a total value of $49,530.00. Following the sale, the chief executive officer now owns 855,381 shares of the company’s stock, valued at $42,367,020.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Serge Saxonov sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were 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 of the company’s stock, valued at approximately $42,367,020.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Justin J. Mcanear sold 1,865 shares of 10x Genomics stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $46.34, for a total value of $86,424.10. Following the transaction, the chief financial officer now owns 95,240 shares of the company’s stock, valued at $4,413,421.60. The disclosure for this sale can be found here. In the last three months, insiders sold 12,959 shares of company stock worth $592,806. 10.65% of the stock is owned by corporate insiders.

Institutional Trading of 10x Genomics

Large investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC lifted its holdings in 10x Genomics by 26.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 7,193 shares of the company’s stock valued at $297,000 after purchasing an additional 1,486 shares in the last quarter. Xponance Inc. lifted its stake in shares of 10x Genomics by 3.2% during the third quarter. Xponance Inc. now owns 13,060 shares of the company’s stock valued at $539,000 after buying an additional 400 shares during the period. Bank of New York Mellon Corp boosted its position in 10x Genomics by 13.9% during the third quarter. Bank of New York Mellon Corp now owns 1,010,256 shares of the company’s stock worth $41,673,000 after acquiring an additional 122,981 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in 10x Genomics by 13.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,777 shares of the company’s stock worth $857,000 after acquiring an additional 2,419 shares during the period. Finally, Strs Ohio raised its holdings in 10x Genomics by 16.8% in the 3rd quarter. Strs Ohio now owns 13,789 shares of the company’s stock valued at $568,000 after acquiring an additional 1,986 shares during the last quarter. Institutional investors and hedge funds 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.