10x Genomics (NASDAQ:TXG) Price Target Cut to $85.00

10x Genomics (NASDAQ:TXG – Get Rating) had its target price decreased by research analysts at The Goldman Sachs Group from $95.00 to $85.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 18.91% from the company’s current price.

TXG has been the subject of a number of other reports. Cowen decreased their price target on shares of 10x Genomics from $205.00 to $145.00 in a report on Thursday, February 17th. Citigroup cut their price objective on 10x Genomics from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, February 17th. Finally, Zacks Investment Research raised 10x Genomics from a “sell” rating to a “hold” rating in a report on Thursday, February 17th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, 10x Genomics has an average rating of “Hold” and a consensus target price of $135.71.

TXG opened at $71.48 on Wednesday. The firm has a market cap of $8.07 billion, a P/E ratio of -137.46 and a beta of 1.68. The business has a 50 day moving average price of $76.38 and a 200 day moving average price of $118.68. 10x Genomics has a twelve month low of $54.72 and a twelve month high of $208.99.

10x Genomics (NASDAQ:TXG – Get Rating) last released its quarterly earnings results on Wednesday, February 16th. The company reported ($0.16) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.10). 10x Genomics had a negative net margin of 11.87% and a negative return on equity of 7.38%. The firm had revenue of $143.53 million during the quarter, compared to the consensus estimate of $148.50 million. During the same period in the prior year, the business earned ($0.08) EPS. The company’s revenue for the quarter was up 27.9% compared to the same quarter last year. On average, research analysts expect that 10x Genomics will post -0.7 EPS for the current year.

In other 10x Genomics news, CEO Serge Saxonov sold 551 shares of the stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $78.60, for a total transaction of $43,308.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Benjamin J. Hindson sold 360 shares of 10x Genomics stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $78.59, for a total value of $28,292.40. The disclosure for this sale can be found here. Insiders have sold a total of 30,199 shares of company stock worth $2,790,248 in the last three months. 11.57% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Stonnington Group LLC bought a new stake in 10x Genomics during the first quarter worth about $726,000. Arden Trust Co grew its position in 10x Genomics by 34.8% during the 1st quarter. Arden Trust Co now owns 4,056 shares of the company’s stock worth $308,000 after acquiring an additional 1,047 shares during the last quarter. DNB Asset Management AS increased its holdings in 10x Genomics by 3.8% during the 1st quarter. DNB Asset Management AS now owns 11,636 shares of the company’s stock valued at $885,000 after purchasing an additional 427 shares in the last quarter. Vigilant Capital Management LLC grew its holdings in 10x Genomics by 8.3% during the 1st quarter. Vigilant Capital Management LLC now owns 77,183 shares of the company’s stock worth $5,871,000 after acquiring an additional 5,946 shares during the last quarter. Finally, American Trust acquired a new stake in 10x Genomics in the 4th quarter valued at about $682,000. 67.36% of the stock is owned by hedge funds and other institutional investors.

About 10x Genomics (Get Rating)

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in North America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium and chromium connect instruments, microfluidic chips, slides, reagents, and other consumables products.

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