The Goldman Sachs Group Lowers 10x Genomics (NASDAQ:TXG) Price Target to $14.00

10x Genomics (NASDAQ:TXG) had its target price cut by stock analysts at The Goldman Sachs Group from $16.00 to $14.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential downside of 16.22% from the company’s previous close.

TXG has been the subject of several other research reports. Leerink Partners began coverage on 10x Genomics in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price objective for the company. Deutsche Bank Aktiengesellschaft cut 10x Genomics from a “buy” rating to a “hold” rating and cut their price objective for the stock from $55.00 to $25.00 in a research report on Wednesday, July 10th. Bank of America cut their price objective on 10x Genomics from $36.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, July 18th. Stifel Nicolaus cut their price objective on 10x Genomics from $53.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, July 16th. Finally, Barclays cut their price objective on 10x Genomics from $24.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.73.

10x Genomics Trading Up 5.8 %

NASDAQ TXG traded up $0.92 on Wednesday, reaching $16.71. The stock had a trading volume of 1,750,372 shares, compared to its average volume of 1,694,122. The business has a 50 day moving average price of $20.25 and a 200 day moving average price of $21.52. 10x Genomics has a 1 year low of $14.02 and a 1 year high of $57.90. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of -10.88 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Tuesday, October 29th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. 10x Genomics had a negative return on equity of 28.23% and a negative net margin of 37.90%. The firm had revenue of $151.65 million for the quarter, compared to the consensus estimate of $158.84 million. During the same quarter in the previous year, the company posted ($0.51) earnings per share. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, analysts anticipate that 10x Genomics will post -1.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Justin J. Mcanear sold 2,961 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $66,711.33. Following the sale, the chief financial officer now owns 143,242 shares of the company’s stock, valued at $3,227,242.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Justin J. Mcanear sold 2,961 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $66,711.33. Following the sale, the chief financial officer now owns 143,242 shares of the company’s stock, valued at $3,227,242.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Serge Saxonov sold 6,749 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $152,054.97. Following the completion of the transaction, the chief executive officer now owns 882,467 shares in the company, valued at approximately $19,881,981.51. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,061 shares of company stock valued at $316,794. 10.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On 10x Genomics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of 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 period. Vanguard Group Inc. raised its holdings in shares of 10x Genomics by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,101,536 shares of the company’s stock valued at $341,581,000 after purchasing an additional 90,204 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of 10x Genomics by 264.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 319,287 shares of the company’s stock valued at $11,983,000 after purchasing an additional 231,697 shares during the period. SG Americas Securities LLC raised its holdings in shares of 10x Genomics by 604.9% during the second quarter. SG Americas Securities LLC now owns 101,344 shares of the company’s stock valued at $1,971,000 after purchasing an additional 86,967 shares during the period. Finally, Lecap Asset Management Ltd. acquired a new position in shares of 10x Genomics during the third quarter valued at about $877,000. 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.