The Goldman Sachs Group Lowers 10x Genomics (NASDAQ:TXG) Price Target to $26.00

10x Genomics (NASDAQ:TXG) had its price objective decreased by The Goldman Sachs Group from $30.00 to $26.00 in a research report report published on Wednesday morning, Benzinga reports. The Goldman Sachs Group currently has a sell rating on the stock.

TXG has been the topic of a number of other reports. Stifel Nicolaus dropped their price target on shares of 10x Genomics from $63.00 to $53.00 and set a buy rating on the stock in a research note on Wednesday. Barclays cut their target price on 10x Genomics from $55.00 to $45.00 and set an overweight rating for the company in a research note on Wednesday, April 10th. 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 report on Thursday, April 18th. Canaccord Genuity Group reduced their target price on 10x Genomics from $65.00 to $50.00 and set a buy rating for the company in a report on Monday. Finally, TD Cowen downgraded shares of 10x Genomics from a buy rating to a hold rating and cut their price target for the company from $57.00 to $32.00 in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $48.50.

10x Genomics Stock Performance

Shares of 10x Genomics stock opened at $26.92 on Wednesday. The company has a market capitalization of $3.21 billion, a P/E ratio of -12.07 and a beta of 1.94. 10x Genomics has a 1 year low of $24.60 and a 1 year high of $63.57. The company’s fifty day moving average is $36.94 and its two-hundred day moving average is $42.40.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.50) earnings per share for the quarter, hitting the consensus estimate of ($0.50). The firm had revenue of $141.01 million during the quarter, compared to the consensus estimate of $142.24 million. 10x Genomics had a negative return on equity of 30.43% and a negative net margin of 42.20%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the company earned ($0.44) earnings per share. As a group, equities analysts expect that 10x Genomics will post -1.47 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Serge Saxonov sold 2,821 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total transaction of $130,725.14. Following the transaction, the chief executive officer now owns 847,560 shares of the company’s stock, valued at $39,275,930.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Benjamin J. Hindson sold 2,613 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total transaction of $121,086.42. Following the completion of the sale, the insider now directly owns 283,059 shares of the company’s stock, valued at approximately $13,116,954.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Serge Saxonov sold 2,821 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total value of $130,725.14. Following the completion of the transaction, the chief executive officer now directly owns 847,560 shares in the company, valued at $39,275,930.40. The disclosure for this sale can be found here. Insiders have sold 12,959 shares of company stock valued at $592,806 in the last ninety days. Insiders own 10.65% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

A number of large investors have recently modified their holdings of the stock. UMB Bank n.a. boosted its holdings in 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. Van ECK Associates Corp grew its stake in shares of 10x Genomics by 23.4% during the fourth quarter. Van ECK Associates Corp now owns 1,908 shares of the company’s stock valued at $107,000 after acquiring an additional 362 shares in the last quarter. AIA Group Ltd boosted its stake in shares of 10x Genomics by 0.9% during the 4th quarter. AIA Group Ltd now owns 41,369 shares of the company’s stock valued at $2,315,000 after buying an additional 365 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of 10x Genomics by 113.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock worth $26,000 after buying an additional 371 shares in the last quarter. Finally, Xponance Inc. increased its stake in shares of 10x Genomics by 3.2% in the third quarter. Xponance Inc. now owns 13,060 shares of the company’s stock worth $539,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

About 10x Genomics

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.