10x Genomics (NASDAQ:TXG) Stock Price Down 11.2% on Analyst Downgrade

10x Genomics, Inc. (NASDAQ:TXG) traded down 11.2% during trading on Thursday after Barclays lowered their price target on the stock from $15.00 to $12.00. Barclays currently has an overweight rating on the stock. 10x Genomics traded as low as $7.70 and last traded at $7.70. 766,312 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 2,142,351 shares. The stock had previously closed at $8.67.

A number of other brokerages also recently issued reports on TXG. UBS Group dropped their price target on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Citigroup lowered their price objective on shares of 10x Genomics from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Leerink Partnrs lowered shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 13th. Morgan Stanley dropped their target price on shares of 10x Genomics from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Finally, Stifel Nicolaus cut their target price 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $19.79.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 5,092 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $56,368.44. Following the transaction, the chief executive officer now owns 879,482 shares in the company, valued at $9,735,865.74. The trade was a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alan Mateo purchased 40,000 shares of 10x Genomics stock in a transaction dated Friday, February 21st. The stock was acquired at an average price of $11.14 per share, for a total transaction of $445,600.00. Following the completion of the acquisition, the director now owns 61,691 shares of the company’s stock, valued at approximately $687,237.74. This trade represents a 184.41 % increase in their position. The disclosure for this purchase can be found here. Insiders own 10.03% of the company’s stock.

Institutional Trading of 10x Genomics

Several institutional investors and hedge funds have recently made changes to their positions in TXG. Signaturefd LLC lifted its position in 10x Genomics by 424.6% during the fourth quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock valued at $26,000 after acquiring an additional 1,452 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of 10x Genomics in the fourth quarter worth about $32,000. Blue Trust Inc. increased its position in shares of 10x Genomics by 73.1% in the fourth quarter. Blue Trust Inc. now owns 3,075 shares of the company’s stock valued at $44,000 after buying an additional 1,299 shares in the last quarter. Sound Income Strategies LLC increased its stake in shares of 10x Genomics by 65.2% during the fourth 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 in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of 10x Genomics in the fourth quarter worth approximately $52,000. 84.68% of the stock is currently owned by institutional investors.

10x Genomics Price Performance

The stock has a market capitalization of $936.22 million, a PE ratio of -5.06 and a beta of 2.01. The company’s 50 day moving average price is $10.70 and its two-hundred day moving average price is $14.15.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate 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%. Analysts forecast that 10x Genomics, Inc. will post -1.43 earnings per share for the current year.

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.