10x Genomics (NASDAQ:TXG) Given New $15.00 Price Target at Canaccord Genuity Group

10x Genomics (NASDAQ:TXG) had its price objective reduced by Canaccord Genuity Group from $18.00 to $15.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 58.39% from the company’s current price.

Several other research firms have also weighed in on TXG. Citigroup reduced their price objective on 10x Genomics from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. JPMorgan Chase & Co. lowered their price objective on shares of 10x Genomics from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday. UBS Group lowered their price objective on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Stifel Nicolaus cut their price target on 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, Leerink Partnrs lowered 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $18.38.

10x Genomics Stock Performance

TXG traded up $0.70 during trading hours on Monday, reaching $9.47. The company’s stock had a trading volume of 313,571 shares, compared to its average volume of 2,315,602. 10x Genomics has a 52 week low of $6.78 and a 52 week high of $28.25. The company’s 50-day moving average is $8.95 and its 200-day moving average is $12.54. The firm has a market cap of $1.16 billion, a PE ratio of -6.21 and a beta of 1.94.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.40) 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%. Equities analysts anticipate that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Insider Buying and Selling at 10x Genomics

In related news, CEO Serge Saxonov sold 5,092 shares of the firm’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 $56,368.44. Following the completion of the sale, the chief executive officer now owns 879,482 shares in the company, valued at approximately $9,735,865.74. This trade represents a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Alan Mateo purchased 40,000 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were purchased at an average price of $11.14 per share, with a total value of $445,600.00. Following the purchase, the director now directly owns 61,691 shares in the company, valued at $687,237.74. This trade represents a 184.41% increase in their position. The disclosure for this purchase can be found here. Insiders own 9.39% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TXG. Atria Wealth Solutions Inc. lifted its holdings in shares of 10x Genomics by 9.6% in the 4th quarter. Atria Wealth Solutions Inc. now owns 10,788 shares of the company’s stock worth $155,000 after acquiring an additional 943 shares during the last quarter. Blue Trust Inc. increased its stake in 10x Genomics by 73.1% in the 4th quarter. Blue Trust Inc. now owns 3,075 shares of the company’s stock worth $44,000 after purchasing an additional 1,299 shares during the period. Sound Income Strategies LLC increased its stake in 10x Genomics by 65.2% in the 4th quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock worth $48,000 after purchasing an additional 1,330 shares during the period. Signaturefd LLC increased its stake in 10x Genomics by 424.6% in the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock worth $26,000 after purchasing an additional 1,452 shares during the period. Finally, GAMMA Investing LLC increased its stake in 10x Genomics by 81.8% in the 1st quarter. GAMMA Investing LLC now owns 3,586 shares of the company’s stock worth $31,000 after purchasing an additional 1,614 shares during the period. 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.