10x Genomics, Inc. (NASDAQ:TXG – Get Free Report) gapped down before the market opened on Thursday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $60.00 to $55.00. The stock had previously closed at $29.16, but opened at $27.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. 10x Genomics shares last traded at $27.89, with a volume of 409,343 shares trading hands.
A number of other equities analysts also recently issued reports on the stock. Barclays decreased their price target on shares of 10x Genomics from $55.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. Stifel Nicolaus cut their price objective on shares of 10x Genomics from $68.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, February 16th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $60.22.
Insider Activity
In other news, CEO Serge Saxonov sold 2,821 shares of the 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 sale, the chief executive officer now owns 847,560 shares in the company, valued at $39,275,930.40. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Serge Saxonov sold 2,821 shares of the 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 sale, the chief executive officer now owns 847,560 shares in the company, valued at $39,275,930.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Justin J. Mcanear sold 1,865 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $46.34, for a total transaction of $86,424.10. Following the completion of the sale, 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 a total of 12,959 shares of company stock worth $592,806 over the last 90 days. 10.65% of the stock is currently owned by insiders.
Institutional Investors Weigh In On 10x Genomics
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SVB Wealth LLC raised its position in 10x Genomics by 92.1% in the fourth quarter. SVB Wealth LLC now owns 1,446,552 shares of the company’s stock worth $80,949,000 after acquiring an additional 693,422 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in 10x Genomics by 32.9% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,283,530 shares of the company’s stock worth $127,786,000 after acquiring an additional 565,059 shares during the period. ARK Investment Management LLC raised its position in 10x Genomics by 35.0% in the fourth quarter. ARK Investment Management LLC now owns 4,041,287 shares of the company’s stock worth $226,150,000 after acquiring an additional 1,047,827 shares during the period. Bleakley Financial Group LLC bought a new position in 10x Genomics in the fourth quarter worth approximately $234,000. Finally, Vanguard Group Inc. raised its position in 10x Genomics by 4.2% in the third quarter. Vanguard Group Inc. now owns 8,903,517 shares of the company’s stock worth $367,270,000 after acquiring an additional 354,921 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.
10x Genomics Price Performance
The firm has a market capitalization of $3.45 billion, a P/E ratio of -13.34 and a beta of 1.90. The company’s 50-day simple moving average is $40.19 and its two-hundred day simple moving average is $43.01.
10x Genomics (NASDAQ:TXG – Get Free Report) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.05). The business had revenue of $183.98 million during the quarter, compared to the consensus estimate of $182.73 million. 10x Genomics had a negative return on equity of 28.82% and a negative net margin of 41.17%. The firm’s revenue was up 17.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.15) earnings per share. Analysts predict that 10x Genomics, Inc. will post -1.47 earnings per share for the current year.
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.