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

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

A number of other equities analysts also recently commented on the stock. Stifel Nicolaus decreased their price objective on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Morgan Stanley lowered their target price on 10x Genomics from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Barclays lowered their target price on 10x Genomics from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. UBS Group lowered their target price on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Finally, Citigroup lowered their target price on 10x Genomics from $20.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, 10x Genomics has a consensus rating of “Hold” and an average target price of $18.38.

10x Genomics Price Performance

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

10x Genomics (NASDAQ:TXG) 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 return on equity of 25.40% and a negative net margin of 29.90%. On average, research analysts predict that 10x Genomics will post -1.43 earnings per share for the current year.

Insider Activity

In other news, insider Benjamin J. Hindson sold 4,573 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $50,623.11. Following the completion of the sale, the insider now directly owns 335,324 shares in the company, valued at approximately $3,712,036.68. This trade represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Alan Mateo bought 40,000 shares of the stock in a transaction dated Friday, February 21st. The stock was acquired at an average price 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 of the company’s stock, valued at $687,237.74. This represents a 184.41% increase in their position. The disclosure for this purchase can be found here. 9.39% of the stock is owned by company insiders.

Institutional Trading of 10x Genomics

A number of hedge funds and other institutional investors have recently made changes to their positions in TXG. FMR LLC increased its position in 10x Genomics by 0.6% in the fourth quarter. FMR LLC now owns 13,454,434 shares of the company’s stock worth $193,206,000 after purchasing an additional 86,455 shares during the period. ARK Investment Management LLC increased its position in 10x Genomics by 7.5% in the first quarter. ARK Investment Management LLC now owns 12,845,713 shares of the company’s stock worth $112,143,000 after purchasing an additional 901,656 shares during the period. Vanguard Group Inc. increased its position in 10x Genomics by 1.7% in the first quarter. Vanguard Group Inc. now owns 11,118,086 shares of the company’s stock worth $97,061,000 after purchasing an additional 184,537 shares during the period. RA Capital Management L.P. acquired a new stake in 10x Genomics in the fourth quarter worth about $47,092,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in 10x Genomics by 10.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,116,573 shares of the company’s stock worth $30,394,000 after buying an additional 193,588 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

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.