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

10x Genomics (NASDAQ:TXG - Free Report) had its target price cut by Barclays from $21.00 to $19.00 in a research note released on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft cut 10x Genomics from a "buy" rating to a "hold" rating and dropped their price target for the company from $55.00 to $25.00 in a research report on Wednesday, July 10th. Leerink Partnrs upgraded shares of 10x Genomics to a "strong-buy" rating in a research note on Tuesday, September 3rd. Morgan Stanley dropped their price target on shares of 10x Genomics from $50.00 to $46.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 13th. Citigroup reduced their price objective on shares of 10x Genomics from $35.00 to $23.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, UBS Group dropped their target price on 10x Genomics from $25.00 to $20.00 and set a "neutral" rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $29.19.

10x Genomics Stock Performance

Shares of NASDAQ:TXG traded up $0.36 during midday trading on Friday, reaching $16.39. The company's stock had a trading volume of 1,154,933 shares, compared to its average volume of 1,701,604. 10x Genomics has a fifty-two week low of $14.02 and a fifty-two week high of $57.90. The firm has a 50 day moving average price of $19.99 and a two-hundred day moving average price of $21.45. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of -10.54 and a beta of 1.85.

10x Genomics (NASDAQ:TXG - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.04. The business had revenue of $151.65 million during the quarter, compared to the consensus estimate of $158.84 million. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. 10x Genomics's revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.51) EPS. As a group, research analysts anticipate that 10x Genomics will post -1.35 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Benjamin J. Hindson sold 4,351 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $98,028.03. Following the transaction, the insider now owns 345,704 shares of the company's stock, valued at $7,788,711.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Justin J. Mcanear sold 2,961 shares of the business's stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $66,711.33. Following the completion of the sale, the chief financial officer now directly owns 143,242 shares in the company, valued at approximately $3,227,242.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Benjamin J. Hindson sold 4,351 shares of the company's stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $98,028.03. Following the completion of the sale, the insider now directly owns 345,704 shares of the company's stock, valued at $7,788,711.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,061 shares of company stock valued at $316,794 in the last quarter. Corporate insiders own 10.03% of the company's stock.

Institutional Trading of 10x Genomics

Several institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its holdings in shares of 10x Genomics by 113.5% in the first 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. GAMMA Investing LLC lifted its stake in 10x Genomics by 451.8% in the third quarter. GAMMA Investing LLC now owns 1,545 shares of the company's stock worth $35,000 after acquiring an additional 1,265 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of 10x Genomics in the 3rd quarter worth about $35,000. First Horizon Advisors Inc. boosted its position in 10x Genomics by 74.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company's stock valued at $37,000 after acquiring an additional 808 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of 10x Genomics by 501.7% during the first quarter. Covestor Ltd now owns 1,047 shares of the company's stock valued at $39,000 after purchasing an additional 873 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other 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.