10x Genomics price target lowered to $23 from $35 at Citi

Citi lowered the firm’s price target on 10x Genomics (TXG) to $23 from $35 and keeps a Buy rating on the shares post the Q3 report. The company lowered the fiscal 2024 guide by $50M at the midpoint, implying flat sequential revenue in Q4, well below consensus, the analyst tells investors in a research note. The firm says weakness in the quarter was largely attributed to disruptions driven by commercial and organizational changes on top of challenging macro conditions.