10x Genomics (NASDAQ:TXG) Given New $15.00 Price Target at Citigroup

10x Genomics (NASDAQ:TXG) had its price target decreased by equities researchers at Citigroup from $20.00 to $15.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 45.63% from the company’s current price.

A number of other equities analysts have also weighed in on the company. Leerink Partnrs lowered 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 13th. Morgan Stanley cut their price objective on 10x Genomics from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Stifel Nicolaus lowered their target price on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Barclays dropped their target price on shares of 10x Genomics from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Finally, UBS Group decreased their price target on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $20.21.

10x Genomics Price Performance

NASDAQ:TXG traded up $0.45 on Tuesday, reaching $10.30. 2,108,967 shares of the company’s stock were exchanged, compared to its average volume of 2,637,349. The stock has a fifty day simple moving average of $13.90 and a 200-day simple moving average of $16.67. 10x Genomics has a 52 week low of $9.27 and a 52 week high of $44.43. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -6.78 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.08). 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. As a group, sell-side analysts predict that 10x Genomics will post -1.43 EPS for the current year.

Insider Activity at 10x Genomics

In related news, insider Benjamin J. Hindson sold 4,573 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $50,623.11. Following the transaction, the insider now owns 335,324 shares in the company, valued at $3,712,036.68. The trade was a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Serge Saxonov sold 5,092 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $11.07, for a total transaction of $56,368.44. Following the completion of the sale, the chief executive officer now owns 879,482 shares of the company’s stock, valued at $9,735,865.74. This trade represents a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On 10x Genomics

Several hedge funds have recently made changes to their positions in the company. FMR LLC raised its holdings in 10x Genomics by 0.6% in the fourth quarter. FMR LLC now owns 13,454,434 shares of the company’s stock worth $193,206,000 after purchasing an additional 86,455 shares in the last quarter. ARK Investment Management LLC grew its position in shares of 10x Genomics by 11.1% in the 4th quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock worth $171,517,000 after buying an additional 1,193,712 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of 10x Genomics by 3.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,373,212 shares of the company’s stock worth $143,907,000 after acquiring an additional 230,145 shares in the last quarter. RA Capital Management L.P. purchased a new position in 10x Genomics during the 4th quarter valued at about $47,092,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 10x Genomics by 10.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,116,573 shares of the company’s stock worth $30,394,000 after acquiring an additional 193,588 shares in the last quarter. 84.68% of the stock is currently owned by 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.