10x Genomics (NASDAQ:TXG) PT Lowered to $53.00 at Stifel Nicolaus

10x Genomics (NASDAQ:TXG) had its price target reduced by Stifel Nicolaus from $63.00 to $53.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 101.60% from the company’s previous close.

A number of other brokerages have also recently issued reports on TXG. TD Cowen cut shares of 10x Genomics from a “buy” rating to a “hold” rating and dropped their target price for the company from $57.00 to $32.00 in a report on Wednesday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of 10x Genomics from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Barclays dropped their target price on shares of 10x Genomics from $55.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. Finally, Canaccord Genuity Group dropped their target price on shares of 10x Genomics from $65.00 to $50.00 and set a “buy” rating on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.50.

10x Genomics Price Performance

Shares of NASDAQ:TXG opened at $26.29 on Wednesday. The company’s 50-day moving average price is $36.54 and its two-hundred day moving average price is $42.29. 10x Genomics has a one year low of $24.60 and a one year high of $63.57.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.50) EPS for the quarter, hitting the consensus estimate of ($0.50). 10x Genomics had a negative net margin of 42.20% and a negative return on equity of 30.85%. The firm had revenue of $141.01 million for the quarter, compared to analysts’ expectations of $142.24 million. During the same period in the previous year, the firm posted ($0.44) EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, equities analysts predict that 10x Genomics will post -1.47 EPS for the current year.

Insider Activity at 10x Genomics

In related news, CEO Serge Saxonov sold 1,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $49.53, for a total value of $49,530.00. Following the transaction, the chief executive officer now owns 855,381 shares in the company, valued at $42,367,020.93. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other 10x Genomics news, CEO Serge Saxonov sold 1,000 shares of 10x Genomics stock in a transaction on Friday, February 9th. The shares were sold at an average price of $49.53, for a total value of $49,530.00. Following the completion of the sale, the chief executive officer now directly owns 855,381 shares of the company’s stock, valued at $42,367,020.93. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Justin J. Mcanear sold 1,865 shares of 10x Genomics stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total transaction of $86,424.10. Following the completion of the sale, the chief financial officer now directly owns 95,240 shares of the company’s stock, valued at $4,413,421.60. The disclosure for this sale can be found here. Insiders have sold a total of 12,959 shares of company stock worth $592,806 over the last quarter. Company insiders own 10.65% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Several hedge funds and other institutional investors have recently made changes to their positions in TXG. FMR LLC increased its position in shares of 10x Genomics by 56.4% during the third quarter. FMR LLC now owns 12,666,998 shares of the company’s stock worth $522,514,000 after acquiring an additional 4,565,400 shares in the last quarter. Venrock Management VI LLC bought a new stake in shares of 10x Genomics during the fourth quarter worth about $117,894,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of 10x Genomics by 58.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,621,778 shares of the company’s stock worth $135,925,000 after acquiring an additional 1,338,248 shares in the last quarter. Nikko Asset Management Americas Inc. increased its position in shares of 10x Genomics by 58.6% during the first quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock worth $135,780,000 after acquiring an additional 1,338,248 shares in the last quarter. Finally, ARK Investment Management LLC grew its position in 10x Genomics by 35.0% in the 4th quarter. ARK Investment Management LLC now owns 4,041,287 shares of the company’s stock worth $226,150,000 after purchasing an additional 1,047,827 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

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.