Deutsche Bank Aktiengesellschaft Trims 10x Genomics (NASDAQ:TXG) Target Price to $55.00

10x Genomics (NASDAQ:TXG) had its target price decreased by stock analysts at Deutsche Bank Aktiengesellschaft from $60.00 to $55.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 96.85% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus dropped their price objective on shares of 10x Genomics from $68.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Barclays dropped their price objective on shares of 10x Genomics from $55.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.22.

10x Genomics Trading Down 3.5 %

NASDAQ TXG opened at $27.94 on Thursday. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of -12.88 and a beta of 1.90. The firm’s 50 day simple moving average is $39.76 and its 200 day simple moving average is $42.92. 10x Genomics has a 1 year low of $26.75 and a 1 year high of $63.57.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Thursday, February 15th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.05). The firm had revenue of $183.98 million for the quarter, compared to analyst estimates of $182.73 million. 10x Genomics had a negative return on equity of 28.82% and a negative net margin of 41.17%. The business’s revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.15) EPS. On average, equities research analysts forecast that 10x Genomics will post -1.47 earnings per share for the current year.

Insider Activity

In related news, CEO Serge Saxonov sold 4,660 shares of 10x Genomics stock in a transaction on Monday, March 4th. The shares were sold at an average price of $44.00, for a total transaction of $205,040.00. Following the completion of the transaction, the chief executive officer now owns 842,900 shares of the company’s stock, valued at $37,087,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other 10x Genomics news, insider Benjamin J. Hindson sold 2,613 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total value of $121,086.42. Following the completion of the sale, the insider now directly owns 283,059 shares in the company, valued at $13,116,954.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Serge Saxonov sold 4,660 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $44.00, for a total transaction of $205,040.00. Following the completion of the sale, the chief executive officer now owns 842,900 shares of the company’s stock, valued at $37,087,600. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,959 shares of company stock valued at $592,806. Insiders own 10.65% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its holdings in 10x Genomics by 113.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock worth $26,000 after purchasing an additional 371 shares during the period. UMB Bank n.a. grew its holdings in 10x Genomics by 51.6% in the fourth quarter. UMB Bank n.a. now owns 782 shares of the company’s stock worth $44,000 after purchasing an additional 266 shares during the period. Atlas Capital Advisors LLC grew its holdings in shares of 10x Genomics by 41.7% during the second quarter. Atlas Capital Advisors LLC now owns 935 shares of the company’s stock valued at $42,000 after buying an additional 275 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of 10x Genomics during the fourth quarter valued at about $66,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of 10x Genomics by 17.9% during the second quarter. PNC Financial Services Group Inc. now owns 1,299 shares of the company’s stock valued at $73,000 after buying an additional 197 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

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.