The Goldman Sachs Group Trims 10x Genomics (NASDAQ:TXG) Target Price to $26.00

10x Genomics (NASDAQ:TXG) had its target price cut by The Goldman Sachs Group from $30.00 to $26.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a sell rating on the stock.

TXG has been the subject of several other research reports. Bank of America decreased their target price on 10x Genomics from $45.00 to $36.00 and set a neutral rating for the company in a research note on Wednesday. Canaccord Genuity Group reduced their price objective on 10x Genomics from $65.00 to $50.00 and set a buy rating for the company in a research report on Monday, April 29th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of 10x Genomics from $60.00 to $55.00 and set a buy rating on the stock in a research report on Thursday, April 18th. TD Cowen downgraded shares of 10x Genomics from a buy rating to a hold rating and reduced their price target for the company from $57.00 to $32.00 in a report on Wednesday. Finally, Barclays dropped their price objective on shares of 10x Genomics from $55.00 to $45.00 and set an overweight rating on the stock in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, 10x Genomics presently has an average rating of Moderate Buy and a consensus price target of $48.50.

10x Genomics Trading Up 4.5 %

Shares of 10x Genomics stock opened at $27.48 on Wednesday. The firm has a fifty day simple moving average of $36.16 and a 200-day simple moving average of $42.18. The stock has a market capitalization of $3.27 billion, a price-to-earnings 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.

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

Insider Activity

In related news, CEO Serge Saxonov sold 4,660 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $44.00, for a total value of $205,040.00. Following the sale, the chief executive officer now owns 842,900 shares of the company’s stock, valued at approximately $37,087,600. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other 10x Genomics news, CFO Justin J. Mcanear sold 1,865 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total transaction of $86,424.10. Following the sale, the chief financial officer now directly owns 95,240 shares of the company’s stock, valued at $4,413,421.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Serge Saxonov sold 4,660 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $44.00, for a total transaction of $205,040.00. Following the sale, the chief executive officer now directly owns 842,900 shares of the company’s stock, valued at approximately $37,087,600. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,959 shares of company stock worth $592,806. Company insiders own 10.65% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nikko Asset Management Americas Inc. boosted its stake in 10x Genomics by 58.6% in the first quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock worth $135,780,000 after purchasing an additional 1,338,248 shares in the last quarter. Capstone Investment Advisors LLC lifted its position in 10x Genomics by 191.6% during the 1st quarter. Capstone Investment Advisors LLC now owns 16,115 shares of the company’s stock worth $605,000 after buying an additional 10,589 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in 10x Genomics by 264.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 319,287 shares of the company’s stock worth $11,983,000 after acquiring an additional 231,697 shares during the last quarter. Perigon Wealth Management LLC increased its position in 10x Genomics by 46.7% in the 1st quarter. Perigon Wealth Management LLC now owns 14,168 shares of the company’s stock valued at $532,000 after acquiring an additional 4,512 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of 10x Genomics by 113.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock worth $26,000 after acquiring an additional 371 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

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.