Citigroup Issues Pessimistic Forecast for 10x Genomics (NASDAQ:TXG) Stock Price

10x Genomics (NASDAQ:TXG - Get Free Report) had its target price dropped by investment analysts at Citigroup from $20.00 to $15.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's price objective would indicate a potential upside of 37.24% from the stock's current price.

TXG has been the topic of a number of other reports. UBS Group lowered their target price on shares of 10x Genomics from $20.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. 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. JPMorgan Chase & Co. lowered their target price on shares of 10x Genomics from $14.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Barclays lowered their target price on shares of 10x Genomics from $19.00 to $18.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. Finally, Morgan Stanley decreased their price target on shares of 10x Genomics from $28.00 to $26.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, 10x Genomics has a consensus rating of "Hold" and a consensus price target of $20.21.

10x Genomics Trading Up 3.9 %

TXG stock traded up $0.41 during midday trading on Tuesday, reaching $10.93. The company had a trading volume of 3,840,208 shares, compared to its average volume of 2,751,255. 10x Genomics has a 1 year low of $9.27 and a 1 year high of $44.21. The company has a market capitalization of $1.34 billion, a P/E ratio of -7.19 and a beta of 1.85. The company has a 50 day moving average of $13.75 and a two-hundred day moving average of $16.55.

10x Genomics (NASDAQ:TXG - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share 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%. On average, sell-side analysts anticipate that 10x Genomics will post -1.43 earnings per share for the current year.

Insider Activity at 10x Genomics

In related news, Director Alan Mateo bought 40,000 shares of the company's stock in a transaction on Friday, February 21st. The stock was bought at an average cost of $11.14 per share, with a total value of $445,600.00. Following the completion of the purchase, the director now owns 61,691 shares in the company, valued at approximately $687,237.74. The trade was a 184.41 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Serge Saxonov sold 5,092 shares of the business'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 transaction, the chief executive officer now directly owns 879,482 shares of the company's stock, valued at approximately $9,735,865.74. This 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 currently owned by insiders.

Hedge Funds Weigh In On 10x Genomics

A number of institutional investors have recently modified their holdings of the stock. KBC Group NV raised its stake in shares of 10x Genomics by 38.8% in the third quarter. KBC Group NV now owns 3,225 shares of the company's stock worth $73,000 after acquiring an additional 902 shares during the last quarter. Atria Wealth Solutions Inc. raised its stake in shares of 10x Genomics by 9.6% in the fourth 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. First Horizon Advisors Inc. grew its position in shares of 10x Genomics by 53.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 2,910 shares of the company's stock worth $66,000 after buying an additional 1,012 shares during the period. Blue Trust Inc. grew its position in shares of 10x Genomics by 73.1% during the 4th quarter. Blue Trust Inc. now owns 3,075 shares of the company's stock worth $44,000 after buying an additional 1,299 shares during the period. Finally, Sound Income Strategies LLC grew its position in shares of 10x Genomics by 65.2% during the 4th quarter. Sound Income Strategies LLC now owns 3,370 shares of the company's stock worth $48,000 after buying an additional 1,330 shares during the period. 84.68% of the stock is owned by 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.