10x Genomics, Inc. (NASDAQ:TXG – Get Free Report) gapped down prior to trading on Wednesday after Deutsche Bank Aktiengesellschaft downgraded the stock from a buy rating to a hold rating. The stock had previously closed at $18.25, but opened at $16.69. Deutsche Bank Aktiengesellschaft now has a $25.00 price target on the stock, down from their previous price target of $55.00. 10x Genomics shares last traded at $15.60, with a volume of 786,507 shares.
Several other research firms also recently commented on TXG. Bank of America dropped their price objective on 10x Genomics from $45.00 to $36.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Jefferies Financial Group began coverage on 10x Genomics in a research note on Monday, June 3rd. They issued a “hold” rating and a $24.00 price objective on the stock. Wolfe Research reiterated a “peer perform” rating on shares of 10x Genomics in a research note on Thursday, June 27th. Canaccord Genuity Group lowered their target price on shares of 10x Genomics from $65.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, April 29th. Finally, Stifel Nicolaus lowered their target price on shares of 10x Genomics from $63.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $41.92.
Insider Transactions at 10x Genomics
In other news, CEO Serge Saxonov sold 4,877 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total value of $118,511.10. Following the transaction, the chief executive officer now owns 889,641 shares of the company’s stock, valued at $21,618,276.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Justin J. Mcanear sold 2,936 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $71,344.80. Following the transaction, the chief financial officer now owns 146,203 shares of the company’s stock, valued at $3,552,732.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Serge Saxonov sold 4,877 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total value of $118,511.10. Following the completion of the transaction, the chief executive officer now directly owns 889,641 shares in the company, valued at approximately $21,618,276.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,900 shares of company stock valued at $289,170. 10.03% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. Quent Capital LLC increased its stake in 10x Genomics by 83.9% in the second quarter. Quent Capital LLC now owns 8,916 shares of the company’s stock valued at $173,000 after acquiring an additional 4,068 shares during the last quarter. Westwood Holdings Group Inc. bought a new position in 10x Genomics in the first quarter valued at $939,000. Swedbank AB bought a new position in 10x Genomics in the first quarter valued at $675,000. Jacobs Levy Equity Management Inc. bought a new position in 10x Genomics in the first quarter valued at $3,647,000. Finally, Bellevue Group AG increased its stake in 10x Genomics by 5.2% in the first quarter. Bellevue Group AG now owns 308,311 shares of the company’s stock valued at $11,571,000 after acquiring an additional 15,138 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.
10x Genomics Stock Down 13.9 %
The firm’s 50-day simple moving average is $22.10 and its 200-day simple moving average is $34.90. The firm has a market capitalization of $1.87 billion, a PE ratio of -7.04 and a beta of 1.84.
10x Genomics (NASDAQ:TXG – Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported ($0.50) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.50). 10x Genomics had a negative net margin of 42.20% and a negative return on equity of 30.85%. The business had revenue of $141.01 million during the quarter, compared to analyst estimates of $142.24 million. During the same period in the prior year, the business posted ($0.44) earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. On average, equities research analysts forecast that 10x Genomics, Inc. will post -1.53 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.