10x Genomics (NASDAQ:TXG) Given New $55.00 Price Target at Deutsche Bank Aktiengesellschaft

10x Genomics (NASDAQ:TXG) had its price target lowered by Deutsche Bank Aktiengesellschaft from $60.00 to $55.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on TXG. Stifel Nicolaus dropped their price target on shares of 10x Genomics from $68.00 to $63.00 and set a buy rating on the stock in a research report on Friday, February 16th. Barclays dropped their price target 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 hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $60.22.

10x Genomics Price Performance

TXG stock opened at $27.94 on Thursday. The stock has a market capitalization of $3.33 billion, a PE ratio of -12.88 and a beta of 1.90. The company’s 50-day moving average is $39.76 and its 200-day moving average is $42.97. 10x Genomics has a 1 year low of $26.75 and a 1 year high of $63.57.

10x Genomics (NASDAQ:TXG) last announced 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). 10x Genomics had a negative net margin of 41.17% and a negative return on equity of 28.82%. The business had revenue of $183.98 million during the quarter, compared to the consensus estimate of $182.73 million. During the same period in the previous year, the business posted ($0.15) EPS. 10x Genomics’s revenue was up 17.8% compared to the same quarter last year. On average, analysts anticipate that 10x Genomics will post -1.47 earnings per share for the current fiscal year.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 4,660 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 842,900 shares in the company, valued at approximately $37,087,600. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other 10x Genomics news, CEO Serge Saxonov sold 4,660 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 842,900 shares in the company, valued at approximately $37,087,600. The transaction was disclosed in a document filed 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 sale, the chief financial officer now 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. In the last 90 days, insiders sold 12,959 shares of company stock worth $592,806. Insiders own 10.65% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Several large investors have recently modified their holdings of the stock. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of 10x Genomics by 58.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,621,778 shares of the company’s stock worth $135,925,000 after purchasing an additional 1,338,248 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake 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 worth $26,000 after purchasing an additional 371 shares during the last quarter. Mirador Capital Partners LP increased its stake in shares of 10x Genomics by 3.4% during the 1st quarter. Mirador Capital Partners LP now owns 28,825 shares of the company’s stock worth $1,082,000 after purchasing an additional 940 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of 10x Genomics by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 9,011,332 shares of the company’s stock worth $504,274,000 after purchasing an additional 107,815 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of 10x Genomics by 0.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 372,873 shares of the company’s stock worth $20,866,000 after purchasing an additional 1,815 shares during the last quarter. Hedge funds and other institutional investors 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.