UBS Group Lowers 10x Genomics (NASDAQ:TXG) Price Target to $20.00

10x Genomics (NASDAQ:TXG) had its price target cut by UBS Group from $25.00 to $20.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s target price would indicate a potential upside of 19.69% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. Leerink Partners assumed coverage on shares of 10x Genomics in a report on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price target for the company. Barclays lowered their price objective on 10x Genomics from $24.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 15th. Leerink Partnrs upgraded 10x Genomics to a “strong-buy” rating in a report on Tuesday, September 3rd. Jefferies Financial Group upgraded 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. cut shares of 10x Genomics from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $40.00 to $20.00 in a research report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.27.

10x Genomics Trading Up 5.8 %

TXG traded up $0.92 during trading hours on Wednesday, hitting $16.71. The company’s stock had a trading volume of 1,140,048 shares, compared to its average volume of 1,691,215. The business’s 50-day moving average price is $20.25 and its 200-day moving average price is $21.52. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of -8.27 and a beta of 1.85. 10x Genomics has a 12 month low of $14.02 and a 12 month high of $57.90.

10x Genomics (NASDAQ:TXG) last released its earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.04. 10x Genomics had a negative return on equity of 28.23% and a negative net margin of 37.90%. The business had revenue of $151.65 million during the quarter, compared to the consensus estimate of $158.84 million. During the same period last year, the company earned ($0.51) earnings per share. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, analysts forecast that 10x Genomics will post -1.35 earnings per share for the current year.

Insider Buying and Selling

In other 10x Genomics news, CEO Serge Saxonov sold 6,749 shares of 10x Genomics stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $152,054.97. Following the transaction, the chief executive officer now owns 882,467 shares in the company, valued at $19,881,981.51. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Serge Saxonov sold 6,749 shares of 10x Genomics stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $152,054.97. Following the completion of the sale, the chief executive officer now owns 882,467 shares in the company, valued at approximately $19,881,981.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Benjamin J. Hindson sold 4,351 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $98,028.03. Following the sale, the insider now directly owns 345,704 shares in the company, valued at approximately $7,788,711.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,061 shares of company stock worth $316,794 in the last ninety days. Insiders own 10.03% of the company’s stock.

Hedge Funds Weigh In On 10x Genomics

Several large investors have recently bought and sold shares of TXG. ARK Investment Management LLC lifted its position in shares of 10x Genomics by 48.2% in the second quarter. ARK Investment Management LLC now owns 9,313,763 shares of the company’s stock worth $181,153,000 after purchasing an additional 3,029,951 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in 10x Genomics by 69.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,143,067 shares of the company’s stock valued at $119,483,000 after acquiring an additional 2,521,289 shares in the last quarter. Nikko Asset Management Americas Inc. raised its position 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. Deerfield Management Company L.P. Series C bought a new position in shares of 10x Genomics during the second quarter valued at $11,612,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of 10x Genomics by 17.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,657,227 shares of the company’s stock worth $137,257,000 after buying an additional 553,053 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.