Stifel Nicolaus Trims 10x Genomics (NASDAQ:TXG) Target Price to $53.00

10x Genomics (NASDAQ:TXG) had its price target dropped by stock analysts at Stifel Nicolaus from $63.00 to $53.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 103.85% from the stock’s previous close.

Several other brokerages also recently weighed in on TXG. TD Cowen downgraded 10x Genomics from a “buy” rating to a “hold” rating and cut their target price for the company from $57.00 to $32.00 in a research note on Wednesday. Canaccord Genuity Group cut their target price on 10x Genomics from $65.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday. Barclays cut their target price on 10x Genomics from $55.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on 10x Genomics from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.40.

10x Genomics Trading Down 11.2 %

Shares of NASDAQ TXG opened at $26.00 on Wednesday. The company has a market cap of $3.10 billion, a price-to-earnings ratio of -13.49 and a beta of 1.90. 10x Genomics has a 12-month low of $26.00 and a 12-month high of $63.57. The stock’s 50 day simple moving average is $36.94 and its 200 day simple moving average is $42.40.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Tuesday, April 30th. The company reported ($0.50) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.50). The business had revenue of $141.01 million for the quarter, compared to the consensus estimate of $142.24 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 5.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.44) EPS. As a group, equities analysts forecast that 10x Genomics will post -1.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Serge Saxonov sold 4,660 shares of 10x Genomics stock in a transaction 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Serge Saxonov sold 4,660 shares of 10x Genomics stock in a transaction 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $86,424.10. Following the transaction, the chief financial officer now owns 95,240 shares in the company, valued at approximately $4,413,421.60. The disclosure for this sale can be found here. Insiders have sold 12,959 shares of company stock worth $592,806 in the last three months. 10.65% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC grew its holdings 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 valued at $522,514,000 after buying an additional 4,565,400 shares in the last quarter. Vanguard Group Inc. boosted its position in 10x Genomics by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 9,011,332 shares of the company’s stock valued at $504,274,000 after purchasing an additional 107,815 shares during the last quarter. ARK Investment Management LLC boosted its position in 10x Genomics by 35.0% during the fourth quarter. ARK Investment Management LLC now owns 4,041,287 shares of the company’s stock valued at $226,150,000 after purchasing an additional 1,047,827 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in 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 valued at $135,925,000 after purchasing an additional 1,338,248 shares during the last quarter. Finally, Brown Capital Management LLC lifted its position in shares of 10x Genomics by 14.5% in the fourth quarter. Brown Capital Management LLC now owns 3,527,297 shares of the company’s stock worth $197,388,000 after buying an additional 446,192 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

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.