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

10x Genomics (NASDAQ:TXG) had its price target reduced by Citigroup from $20.00 to $15.00 in a research note released on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on TXG. Leerink Partnrs lowered 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 13th. Canaccord Genuity Group reduced their price target on 10x Genomics from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. dropped 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. UBS Group reduced their target price on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Finally, Barclays decreased their price target on shares of 10x Genomics from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $20.21.

10x Genomics Stock Up 4.9 %

Shares of TXG stock opened at $11.47 on Tuesday. The business has a fifty day simple moving average of $13.68 and a 200 day simple moving average of $16.51. The company has a market cap of $1.40 billion, a P/E ratio of -7.55 and a beta of 1.93. 10x Genomics has a twelve month low of $9.27 and a twelve month high of $42.85.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates 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%. As a group, equities research analysts anticipate that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Insider Activity

In other 10x Genomics news, insider Benjamin J. Hindson sold 4,573 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $50,623.11. Following the completion of the sale, the insider now owns 335,324 shares of the company’s stock, valued at approximately $3,712,036.68. This trade represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Alan Mateo acquired 40,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were purchased at an average price of $11.14 per share, with a total value of $445,600.00. Following the acquisition, the director now owns 61,691 shares of the company’s stock, 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. 10.03% of the stock is currently owned by company insiders.

Institutional Trading of 10x Genomics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new position in shares of 10x Genomics during the third quarter valued at about $35,000. Signaturefd LLC lifted its position in 10x Genomics by 424.6% in the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock valued at $26,000 after acquiring an additional 1,452 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in 10x Genomics during the 4th quarter valued at about $32,000. Venturi Wealth Management LLC increased its holdings in 10x Genomics by 1,108.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,442 shares of the company’s stock worth $55,000 after purchasing an additional 2,240 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its stake in shares of 10x Genomics by 53.3% in the third quarter. First Horizon Advisors Inc. now owns 2,910 shares of the company’s stock worth $66,000 after purchasing an additional 1,012 shares during the last quarter. 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.