Brokerages Set 10x Genomics, Inc. (NASDAQ:TXG) PT at $25.14

10x Genomics, Inc. (NASDAQ:TXG) has earned an average rating of “Moderate Buy” from the seventeen brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $25.14.

TXG has been the topic of several research analyst reports. Canaccord Genuity Group cut their price target on shares of 10x Genomics from $32.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Stephens reissued an “overweight” rating and issued a $30.00 target price on shares of 10x Genomics in a report on Thursday, October 10th. JPMorgan Chase & Co. dropped their price target on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Barclays reduced their price objective on 10x Genomics from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Finally, Citigroup lowered their target price on shares of 10x Genomics from $35.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th.

10x Genomics Price Performance

TXG stock opened at $14.19 on Tuesday. The business’s 50-day moving average is $15.14 and its two-hundred day moving average is $18.30. The firm has a market capitalization of $1.72 billion, a P/E ratio of -9.27 and a beta of 1.84. 10x Genomics has a 1 year low of $12.95 and a 1 year high of $54.72.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data 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 business had revenue of $151.65 million for the quarter, compared to analyst estimates of $158.84 million. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. The company’s revenue was down 1.3% on a year-over-year basis. During the same period last year, the business earned ($0.51) EPS. On average, analysts expect that 10x Genomics will post -1.4 EPS for the current year.

Institutional Trading of 10x Genomics

Several institutional investors and hedge funds have recently modified their holdings of TXG. Allspring Global Investments Holdings LLC boosted its stake in shares of 10x Genomics by 134.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,637 shares of the company’s stock valued at $32,000 after acquiring an additional 939 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of 10x Genomics by 451.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock worth $35,000 after purchasing an additional 1,265 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of 10x Genomics during the 3rd quarter worth about $35,000. Blue Trust Inc. grew its holdings in shares of 10x Genomics by 136.5% during the third quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock worth $40,000 after buying an additional 1,025 shares in the last quarter. Finally, Sound Income Strategies LLC acquired a new position in shares of 10x Genomics in the third quarter valued at approximately $46,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

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.