10x Genomics (NASDAQ:TXG) PT Lowered to $36.00 at Bank of America

10x Genomics (NASDAQ:TXG) had its target price cut by Bank of America from $45.00 to $36.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages have also issued reports on TXG. Stifel Nicolaus cut their target price on shares of 10x Genomics from $63.00 to $53.00 and set a buy rating for the company in a research report on Wednesday. Barclays cut their target price on shares of 10x Genomics from $55.00 to $45.00 and set an overweight rating for the company in a research report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft cut their target price on shares of 10x Genomics from $60.00 to $55.00 and set a buy rating for the company in a research report on Thursday, April 18th. TD Cowen lowered shares of 10x Genomics from a buy rating to a hold rating and cut their target price for the stock from $57.00 to $32.00 in a research report on Wednesday. Finally, Canaccord Genuity Group cut their target price on shares of 10x Genomics from $65.00 to $50.00 and set a buy rating for the company in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $48.50.

10x Genomics Stock Performance

TXG opened at $27.48 on Wednesday. The company has a fifty day moving average price of $35.81 and a 200-day moving average price of $42.10. 10x Genomics has a one year low of $24.60 and a one year high of $63.57.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings results on Tuesday, April 30th. The company reported ($0.50) EPS for the quarter, meeting analysts’ consensus estimates of ($0.50). The firm had revenue of $141.01 million during the quarter, compared to analyst estimates of $142.24 million. 10x Genomics had a negative net margin of 42.20% and a negative return on equity of 30.85%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.44) EPS. On average, equities research analysts anticipate that 10x Genomics will post -1.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other 10x Genomics news, CEO Serge Saxonov sold 2,821 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 847,560 shares of the company’s stock, valued at $39,275,930.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Justin J. Mcanear sold 1,865 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 95,240 shares of the company’s stock, valued at $4,413,421.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Serge Saxonov sold 2,821 shares of the company’s stock in a transaction dated 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 directly owns 847,560 shares of the company’s stock, valued at $39,275,930.40. The disclosure for this sale can be found here. Insiders sold 12,959 shares of company stock valued at $592,806 over the last three months. Insiders own 10.65% of the company’s stock.

Hedge Funds Weigh In On 10x Genomics

Several hedge funds and other institutional investors have recently modified their holdings of TXG. Commonwealth Equity Services LLC increased its position in shares of 10x Genomics by 26.0% during the third quarter. Commonwealth Equity Services LLC now owns 7,193 shares of the company’s stock valued at $297,000 after buying an additional 1,486 shares during the period. Xponance Inc. increased its position in shares of 10x Genomics by 3.2% during the third quarter. Xponance Inc. now owns 13,060 shares of the company’s stock valued at $539,000 after buying an additional 400 shares during the period. Bank of New York Mellon Corp increased its position in shares of 10x Genomics by 13.9% during the third quarter. Bank of New York Mellon Corp now owns 1,010,256 shares of the company’s stock valued at $41,673,000 after buying an additional 122,981 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of 10x Genomics by 13.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,777 shares of the company’s stock valued at $857,000 after buying an additional 2,419 shares during the period. Finally, Strs Ohio increased its position in shares of 10x Genomics by 16.8% during the third quarter. Strs Ohio now owns 13,789 shares of the company’s stock valued at $568,000 after buying an additional 1,986 shares during the period. 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.