10x Genomics (NASDAQ:TXG) Given New $20.00 Price Target at Leerink Partners

10x Genomics (NASDAQ:TXG) had its price target lowered by Leerink Partners from $22.00 to $20.00 in a research report released on Tuesday,Benzinga reports. The firm currently has a market perform rating on the stock.

Other equities analysts have also recently issued reports about the company. Wall Street Zen cut 10x Genomics from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings restated a “sell (e+)” rating on shares of 10x Genomics in a report on Monday, December 22nd. Piper Sandler lifted their price target on shares of 10x Genomics from $15.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Citigroup cut shares of 10x Genomics from a “buy” rating to a “cautious” rating in a research report on Thursday, December 11th. Finally, Canaccord Genuity Group raised their target price on 10x Genomics from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $16.83.

10x Genomics Stock Down 3.9%

TXG stock opened at $21.62 on Tuesday. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of -34.87 and a beta of 2.18. The company’s fifty day simple moving average is $18.40 and its 200 day simple moving average is $15.06. 10x Genomics has a 12-month low of $6.78 and a 12-month high of $23.56.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.05. The firm had revenue of $149.00 million during the quarter, compared to the consensus estimate of $142.50 million. 10x Genomics had a negative return on equity of 11.50% and a negative net margin of 11.89%.The business’s revenue was down 1.7% compared to the same quarter last year. During the same period last year, the business posted ($0.30) EPS. Research analysts expect that 10x Genomics will post -1.43 earnings per share for the current year.

Insider Transactions at 10x Genomics

In other 10x Genomics news, CFO Adam Taich sold 11,888 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $19.00, for a total transaction of $225,872.00. Following the completion of the sale, the chief financial officer directly owned 297,385 shares of the company’s stock, valued at approximately $5,650,315. The trade was a 3.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Benjamin J. Hindson sold 8,283 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $19.00, for a total value of $157,377.00. Following the completion of the sale, the insider directly owned 432,605 shares of the company’s stock, valued at approximately $8,219,495. This trade represents a 1.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 33,432 shares of company stock valued at $635,208 over the last three months. Corporate insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada boosted its holdings in 10x Genomics by 806.4% during the 1st quarter. Royal Bank of Canada now owns 182,836 shares of the company’s stock worth $1,597,000 after acquiring an additional 162,665 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of 10x Genomics by 163.5% during the first quarter. Goldman Sachs Group Inc. now owns 645,366 shares of the company’s stock valued at $5,634,000 after purchasing an additional 400,430 shares in the last quarter. Focus Partners Wealth purchased a new position in 10x Genomics during the first quarter worth about $92,000. Wealth Enhancement Advisory Services LLC grew its position in 10x Genomics by 209.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 96,001 shares of the company’s stock worth $1,112,000 after purchasing an additional 64,940 shares in the last quarter. Finally, Ballentine Partners LLC purchased a new stake in 10x Genomics in the 2nd quarter valued at about $180,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

About 10x Genomics

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.