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

10x Genomics (NASDAQ:TXG) had its price objective trimmed by Stifel Nicolaus from $63.00 to $53.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Canaccord Genuity Group reduced their price target on shares of 10x Genomics from $65.00 to $50.00 and set a buy rating on the stock in a research report on Monday. TD Cowen downgraded 10x Genomics from a buy rating to a hold rating and decreased their price objective for the stock from $57.00 to $32.00 in a report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price objective on 10x Genomics from $60.00 to $55.00 and set a buy rating for the company in a research report on Thursday, April 18th. Finally, Barclays reduced their target price on shares of 10x Genomics from $55.00 to $45.00 and set an overweight rating on the stock in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, 10x Genomics currently has an average rating of Moderate Buy and an average price target of $48.50.

10x Genomics Stock Performance

Shares of TXG stock opened at $26.92 on Wednesday. 10x Genomics has a fifty-two week low of $24.60 and a fifty-two week high of $63.57. The firm has a market cap of $3.21 billion, a P/E ratio of -12.07 and a beta of 1.94. The business’s 50 day moving average price is $36.94 and its 200-day moving average price is $42.40.

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

Insiders Place Their Bets

In related news, CEO Serge Saxonov sold 4,660 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $44.00, for a total value of $205,040.00. Following the completion of 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 document filed with the SEC, which is available through this hyperlink. In related news, CEO Serge Saxonov sold 4,660 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $44.00, for a total transaction of $205,040.00. Following the sale, the chief executive officer now directly owns 842,900 shares of the company’s stock, valued at $37,087,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Justin J. Mcanear sold 1,865 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $46.34, for a total value 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. Over the last ninety days, insiders sold 12,959 shares of company stock valued at $592,806. Insiders own 10.65% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. increased its position in 10x Genomics by 51.6% during the fourth quarter. UMB Bank n.a. now owns 782 shares of the company’s stock valued at $44,000 after acquiring an additional 266 shares during the last quarter. Van ECK Associates Corp boosted its position in 10x Genomics by 23.4% in the fourth quarter. Van ECK Associates Corp now owns 1,908 shares of the company’s stock worth $107,000 after purchasing an additional 362 shares during the last quarter. AIA Group Ltd grew 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 purchasing an additional 365 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of 10x Genomics by 113.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock valued at $26,000 after purchasing an additional 371 shares during the last quarter. Finally, Xponance Inc. lifted its stake in shares of 10x Genomics by 3.2% in the 3rd quarter. Xponance Inc. now owns 13,060 shares of the company’s stock worth $539,000 after purchasing an additional 400 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

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.