10x Genomics (NASDAQ:TXG) Given New $36.00 Price Target at Bank of America

10x Genomics (NASDAQ:TXG) had its price objective trimmed by Bank of America from $45.00 to $36.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

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

10x Genomics Stock Performance

Shares of NASDAQ TXG opened at $26.92 on Wednesday. 10x Genomics has a 52-week low of $24.60 and a 52-week high of $63.57. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of -12.07 and a beta of 1.94. The stock has a 50 day moving average price of $36.94 and a 200 day moving average price of $42.40.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Tuesday, April 30th. The company reported ($0.50) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.50). 10x Genomics had a negative return on equity of 30.43% and a negative net margin of 42.20%. 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 previous year, the company posted ($0.44) EPS. 10x Genomics’s revenue was up 5.0% on a year-over-year basis. Analysts forecast that 10x Genomics will post -1.47 earnings per share for the current year.

Insider Buying and Selling at 10x Genomics

In other news, CEO Serge Saxonov sold 2,821 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other 10x Genomics news, CFO Justin J. Mcanear sold 1,865 shares of 10x Genomics stock in a transaction dated 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 of the company’s stock, valued at approximately $4,413,421.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Serge Saxonov sold 2,821 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total value of $130,725.14. Following the sale, the chief executive officer now owns 847,560 shares in the company, valued at approximately $39,275,930.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,959 shares of company stock worth $592,806. 10.65% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. FMR LLC increased its holdings in 10x Genomics by 56.4% in the 3rd quarter. FMR LLC now owns 12,666,998 shares of the company’s stock worth $522,514,000 after buying an additional 4,565,400 shares during the period. Vanguard Group Inc. boosted its holdings in shares of 10x Genomics by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 9,011,332 shares of the company’s stock valued at $504,274,000 after acquiring an additional 107,815 shares during the last quarter. ARK Investment Management LLC increased its stake in shares of 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. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of 10x Genomics by 58.6% during the first 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. Finally, Brown Capital Management LLC raised its holdings in shares of 10x Genomics by 14.5% during the fourth quarter. Brown Capital Management LLC now owns 3,527,297 shares of the company’s stock worth $197,388,000 after purchasing an additional 446,192 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

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.