JPMorgan Chase & Co. Lowers 10x Genomics (NASDAQ:TXG) Price Target to $14.00

10x Genomics (NASDAQ:TXG) had its price target lowered by stock analysts at JPMorgan Chase & Co. from $20.00 to $14.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 16.22% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Bank of America lowered their target price on shares of 10x Genomics from $36.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, July 18th. Barclays lowered their target price on shares of 10x Genomics from $24.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 15th. The Goldman Sachs Group lowered their target price on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating on the stock in a research note on Wednesday. Canaccord Genuity Group decreased their price target on shares of 10x Genomics from $32.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Finally, Jefferies Financial Group raised shares of 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.73.

10x Genomics Price Performance

Shares of 10x Genomics stock traded up $0.92 on Wednesday, reaching $16.71. 1,750,372 shares of the company traded hands, compared to its average volume of 1,694,122. 10x Genomics has a 52 week low of $14.02 and a 52 week high of $57.90. The company has a 50 day moving average of $20.25 and a 200 day moving average of $21.52. The firm has a market capitalization of $2.01 billion, a PE ratio of -10.88 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last released its earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. The firm 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 37.90% and a negative return on equity of 28.23%. The company’s revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.51) EPS. As a group, analysts anticipate that 10x Genomics will post -1.35 earnings per share for the current year.

Insider Activity at 10x Genomics

In other 10x Genomics news, insider Benjamin J. Hindson sold 4,351 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were 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 in the company, valued at approximately $7,788,711.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Serge Saxonov sold 6,749 shares of 10x Genomics stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $152,054.97. Following the sale, the chief executive officer now owns 882,467 shares of the company’s stock, valued at approximately $19,881,981.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Benjamin J. Hindson sold 4,351 shares of 10x Genomics stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $98,028.03. Following the sale, the insider now directly owns 345,704 shares in the company, valued at $7,788,711.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,061 shares of company stock valued at $316,794. Insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Large investors have recently modified their holdings of the stock. ARK Investment Management LLC boosted its stake in 10x Genomics by 48.2% during the second quarter. ARK Investment Management LLC now owns 9,313,763 shares of the company’s stock worth $181,153,000 after acquiring an additional 3,029,951 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in 10x Genomics by 69.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,143,067 shares of the company’s stock worth $119,483,000 after acquiring an additional 2,521,289 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its stake in 10x Genomics by 58.6% during the first quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock worth $135,780,000 after acquiring an additional 1,338,248 shares in the last quarter. Deerfield Management Company L.P. Series C bought a new stake in 10x Genomics during the second quarter worth about $11,612,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in 10x Genomics by 17.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,657,227 shares of the company’s stock worth $137,257,000 after acquiring an additional 553,053 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

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.