10x Genomics (NASDAQ:TXG) Given New $12.00 Price Target at UBS Group

10x Genomics (NASDAQ:TXG) had its target price reduced by UBS Group from $14.00 to $12.00 in a report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also recently issued reports on TXG. Leerink Partners cut 10x Genomics from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $25.00 to $12.00 in a report on Thursday, February 13th. Citigroup dropped their price objective on shares of 10x Genomics from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. JPMorgan Chase & Co. reduced their price objective on shares of 10x Genomics from $12.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Canaccord Genuity Group lowered their target price on shares of 10x Genomics from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Monday. Finally, Morgan Stanley dropped their price target on shares of 10x Genomics from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $16.42.

10x Genomics Price Performance

TXG stock opened at $9.20 on Tuesday. The company’s 50-day moving average is $8.80 and its 200-day moving average is $12.41. The stock has a market capitalization of $1.13 billion, a PE ratio of -6.05 and a beta of 1.94. 10x Genomics has a 1 year low of $6.78 and a 1 year high of $26.18.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.09. 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. The business had revenue of $154.88 million for the quarter, compared to analyst estimates of $131.91 million. During the same quarter in the prior year, the company earned ($0.50) earnings per share. The company’s quarterly revenue was down 2.3% on a year-over-year basis. On average, analysts anticipate that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Insider Transactions at 10x Genomics

In related news, insider Benjamin J. Hindson sold 4,573 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $50,623.11. Following the completion of the transaction, the insider now owns 335,324 shares in the company, valued at approximately $3,712,036.68. This represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alan Mateo acquired 40,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were bought at an average price of $11.14 per share, with a total value of $445,600.00. Following the acquisition, the director now directly owns 61,691 shares of the company’s stock, valued at $687,237.74. The trade was a 184.41% increase in their position. The disclosure for this purchase can be found here. Company insiders own 9.39% of the company’s stock.

Institutional Trading of 10x Genomics

A number of large investors have recently bought and sold shares of TXG. FMR LLC increased its holdings in 10x Genomics by 0.6% in the 4th quarter. FMR LLC now owns 13,454,434 shares of the company’s stock worth $193,206,000 after acquiring an additional 86,455 shares during the last quarter. ARK Investment Management LLC increased its stake in shares of 10x Genomics by 7.5% in the first quarter. ARK Investment Management LLC now owns 12,845,713 shares of the company’s stock worth $112,143,000 after purchasing an additional 901,656 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of 10x Genomics by 1.7% in the first quarter. Vanguard Group Inc. now owns 11,118,086 shares of the company’s stock worth $97,061,000 after purchasing an additional 184,537 shares in the last quarter. RA Capital Management L.P. bought a new stake in shares of 10x Genomics in the fourth quarter valued at approximately $47,092,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of 10x Genomics by 10.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,116,573 shares of the company’s stock valued at $30,394,000 after buying an additional 193,588 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

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.