10x Genomics (NASDAQ:TXG) Price Target Cut to $21.00 by Analysts at Barclays

10x Genomics (NASDAQ:TXG) had its price objective decreased by equities research analysts at Barclays from $24.00 to $21.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 28.91% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the stock. Stifel Nicolaus reduced their price objective on shares of 10x Genomics from $53.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, July 16th. Leerink Partnrs upgraded shares of 10x Genomics to a “strong-buy” rating in a report on Tuesday, September 3rd. UBS Group decreased their price target on 10x Genomics from $30.00 to $25.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. The Goldman Sachs Group cut their target price on 10x Genomics from $26.00 to $16.00 and set a “sell” rating on the stock in a research report on Tuesday, July 9th. Finally, 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 research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, 10x Genomics has an average rating of “Moderate Buy” and an average price target of $30.60.

10x Genomics Stock Up 0.1 %

TXG stock traded up $0.02 during mid-day trading on Tuesday, reaching $16.29. The company had a trading volume of 1,159,185 shares, compared to its average volume of 1,689,187. The stock’s 50-day simple moving average is $21.39 and its two-hundred day simple moving average is $23.13. The stock has a market capitalization of $1.94 billion, a P/E ratio of -7.33 and a beta of 1.85. 10x Genomics has a one year low of $14.02 and a one year high of $57.90.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.15. 10x Genomics had a negative net margin of 37.90% and a negative return on equity of 28.23%. The firm had revenue of $153.10 million during the quarter, compared to analyst estimates of $150.90 million. On average, research analysts forecast that 10x Genomics will post -1.32 EPS for the current fiscal year.

Insider Buying and Selling at 10x Genomics

In related news, insider Benjamin J. Hindson sold 4,351 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $98,028.03. Following the sale, the insider now owns 345,704 shares of the company’s stock, valued at $7,788,711.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Justin J. Mcanear sold 2,961 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 transaction of $66,711.33. Following the transaction, the chief financial officer now directly owns 143,242 shares in the company, valued at approximately $3,227,242.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Benjamin J. Hindson sold 4,351 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $98,028.03. Following the completion of the transaction, the insider now owns 345,704 shares of the company’s stock, valued at $7,788,711.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,061 shares of company stock valued at $316,794 in the last quarter. Corporate insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

A number of institutional investors and hedge funds have recently made changes to their positions in TXG. Creative Planning acquired a new stake in 10x Genomics during the 3rd quarter worth $214,000. VitalStone Financial LLC boosted its holdings in 10x Genomics by 43,183.3% during the third quarter. VitalStone Financial LLC now owns 15,582 shares of the company’s stock worth $352,000 after buying an additional 15,546 shares during the last quarter. Sound Income Strategies LLC acquired a new position in shares of 10x Genomics during the 3rd quarter worth about $46,000. CWM LLC increased its stake in shares of 10x Genomics by 444.5% in the 3rd quarter. CWM LLC now owns 22,810 shares of the company’s stock valued at $515,000 after acquiring an additional 18,621 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of 10x Genomics by 451.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock valued at $35,000 after acquiring an additional 1,265 shares during the period. Institutional investors 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.