10x Genomics (NASDAQ:TXG) Shares Gap Down Following Analyst Downgrade

10x Genomics, Inc. (NASDAQ:TXG) gapped down before the market opened on Thursday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $60.00 to $55.00. The stock had previously closed at $29.16, but opened at $27.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. 10x Genomics shares last traded at $27.89, with a volume of 409,343 shares traded.

A number of other brokerages have also weighed in on TXG. Barclays decreased their price target 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. Stifel Nicolaus decreased their target price on 10x Genomics from $68.00 to $63.00 and set a “buy” rating for the company in a report on Friday, February 16th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.22.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 4,660 shares of the 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 transaction, the chief executive officer now directly owns 842,900 shares in the company, valued at approximately $37,087,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Serge Saxonov sold 4,660 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $44.00, for a total value of $205,040.00. Following the completion of the sale, the chief executive officer now directly owns 842,900 shares in the company, valued at approximately $37,087,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Justin J. Mcanear sold 1,865 shares of 10x Genomics stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $46.34, for a total transaction of $86,424.10. Following the completion of the transaction, the chief financial officer now directly owns 95,240 shares of the company’s stock, valued at approximately $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 valued at $592,806 in the last three months. Corporate insiders own 10.65% of the company’s stock.

Hedge Funds Weigh In On 10x Genomics

Several institutional investors have recently made changes to their positions in TXG. UMB Bank n.a. increased its holdings in shares of 10x Genomics by 51.6% in the 4th quarter. UMB Bank n.a. now owns 782 shares of the company’s stock worth $44,000 after acquiring an additional 266 shares during the period. Atlas Capital Advisors LLC raised 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 10x Genomics during the 4th quarter worth $66,000. PNC Financial Services Group Inc. raised its position in shares of 10x Genomics by 17.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,299 shares of the company’s stock worth $73,000 after buying an additional 197 shares in the last quarter. Finally, Comerica Bank bought a new position in shares of 10x Genomics in the third quarter valued at approximately $64,000. 84.68% of the stock is owned by institutional investors.

10x Genomics Stock Down 3.5 %

The company has a 50 day moving average of $40.59 and a two-hundred day moving average of $43.11. The firm has a market cap of $3.35 billion, a P/E ratio of -12.81 and a beta of 1.90.

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

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.