Analysts Set 10x Genomics, Inc. (NASDAQ:TXG) Price Target at $20.57

Shares of 10x Genomics, Inc. (NASDAQ:TXG) have been assigned an average recommendation of “Hold” from the seventeen analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $20.57.

A number of equities research analysts have issued reports on TXG shares. UBS Group decreased their price objective on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Leerink Partnrs downgraded 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 13th. Leerink Partners downgraded 10x Genomics from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $25.00 to $12.00 in a report on Thursday, February 13th. Canaccord Genuity Group reduced their price target on 10x Genomics from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of 10x Genomics in a report on Wednesday.

10x Genomics Price Performance

Shares of TXG stock opened at $10.90 on Wednesday. 10x Genomics has a 1 year low of $10.80 and a 1 year high of $48.42. The stock’s 50 day simple moving average is $14.31 and its two-hundred day simple moving average is $17.10. The company has a market cap of $1.32 billion, a PE ratio of -7.17 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Equities research analysts expect that 10x Genomics will post -1.43 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in 10x Genomics during the 3rd quarter valued at $35,000. Blue Trust Inc. boosted its position in 10x Genomics by 136.5% during the 3rd quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock valued at $40,000 after acquiring an additional 1,025 shares in the last quarter. Signaturefd LLC boosted its position in 10x Genomics by 424.6% during the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock valued at $26,000 after acquiring an additional 1,452 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in 10x Genomics during the 4th quarter valued at $32,000. Finally, Venturi Wealth Management LLC boosted its position in 10x Genomics by 1,108.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,442 shares of the company’s stock valued at $55,000 after acquiring an additional 2,240 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

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.