10x Genomics (NASDAQ:TXG) Price Target Lowered to $55.00 at Deutsche Bank Aktiengesellschaft

10x Genomics (NASDAQ:TXG) had its price target trimmed by Deutsche Bank Aktiengesellschaft from $60.00 to $55.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts also recently commented on the company. Barclays dropped their price objective on 10x Genomics from $55.00 to $45.00 and set an overweight rating on the stock in a report on Wednesday, April 10th. Stifel Nicolaus lowered their price target on 10x Genomics from $68.00 to $63.00 and set a buy rating on the stock in a report on Friday, February 16th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $60.22.

10x Genomics Stock Performance

NASDAQ:TXG opened at $28.95 on Thursday. The stock’s 50 day moving average price is $40.19 and its 200 day moving average price is $43.01. 10x Genomics has a 52 week low of $26.75 and a 52 week high of $63.57.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.05). 10x Genomics had a negative return on equity of 28.82% and a negative net margin of 41.17%. The firm had revenue of $183.98 million during the quarter, compared to analyst estimates of $182.73 million. During the same quarter in the prior year, the company posted ($0.15) EPS. The company’s quarterly revenue was up 17.8% on a year-over-year basis. On average, equities research analysts predict that 10x Genomics will post -1.47 earnings per share for the current year.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 1,000 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $49.53, for a total transaction of $49,530.00. Following the transaction, the chief executive officer now owns 855,381 shares in the company, valued at $42,367,020.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Justin J. Mcanear sold 1,865 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $46.34, for a total value of $86,424.10. Following the completion of the sale, the chief financial officer now directly owns 95,240 shares of the company’s stock, valued at $4,413,421.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Serge Saxonov sold 1,000 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $49.53, for a total value of $49,530.00. Following the completion of the sale, the chief executive officer now directly owns 855,381 shares of the company’s stock, valued at $42,367,020.93. The disclosure for this sale can be found here. Insiders have sold a total of 12,959 shares of company stock worth $592,806 over the last 90 days. Insiders own 10.65% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its position in 10x Genomics by 17.9% in the second quarter. PNC Financial Services Group Inc. now owns 1,299 shares of the company’s stock worth $73,000 after purchasing an additional 197 shares during the period. Atlas Capital Advisors LLC lifted its position in 10x Genomics by 14.2% in the fourth quarter. Atlas Capital Advisors LLC now owns 1,934 shares of the company’s stock worth $108,000 after purchasing an additional 240 shares during the period. UMB Bank n.a. lifted its position in 10x Genomics by 51.6% in the fourth quarter. UMB Bank n.a. now owns 782 shares of the company’s stock worth $44,000 after purchasing an additional 266 shares during the period. Comerica Bank lifted its position in 10x Genomics by 22.0% in the fourth quarter. Comerica Bank now owns 1,887 shares of the company’s stock worth $106,000 after purchasing an additional 340 shares during the period. Finally, Van ECK Associates Corp lifted its position in 10x Genomics by 23.4% in the fourth quarter. Van ECK Associates Corp now owns 1,908 shares of the company’s stock worth $107,000 after purchasing an additional 362 shares during the period. 84.68% of the stock is owned by 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.