10x Genomics, Inc. (NASDAQ:TXG) Receives $29.19 Consensus Target Price from Brokerages

10x Genomics, Inc. (NASDAQ:TXG) has been given a consensus rating of “Moderate Buy” by the seventeen brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $27.47.

TXG has been the topic of a number of recent analyst reports. Leerink Partners began coverage on shares of 10x Genomics in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price objective on the stock. UBS Group lowered their price target on 10x Genomics from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. decreased their target price on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Citigroup dropped their target price on shares of 10x Genomics from $35.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group reduced their price target 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, October 30th.

10x Genomics Stock Performance

NASDAQ:TXG opened at $14.95 on Friday. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -9.77 and a beta of 1.84. 10x Genomics has a fifty-two week low of $12.95 and a fifty-two week high of $57.90. The stock has a fifty day moving average price of $15.84 and a 200-day moving average price of $19.05.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.04. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. The business had revenue of $151.65 million during the quarter, compared to analysts’ expectations of $158.84 million. During the same quarter in the prior year, the business posted ($0.51) earnings per share. 10x Genomics’s revenue was down 1.3% compared to the same quarter last year. Research analysts predict that 10x Genomics will post -1.4 EPS for the current fiscal year.

Institutional Trading of 10x Genomics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in shares of 10x Genomics by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company’s stock valued at $41,009,000 after purchasing an additional 42,777 shares during the last quarter. M&T Bank Corp acquired a new position in 10x Genomics in the third quarter valued at $203,000. Barclays PLC boosted its position in 10x Genomics by 11.7% during the third quarter. Barclays PLC now owns 602,536 shares of the company’s stock valued at $13,605,000 after acquiring an additional 63,079 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in 10x Genomics during the 3rd quarter worth about $402,000. Finally, XTX Topco Ltd raised its position in shares of 10x Genomics by 241.9% in the 3rd quarter. XTX Topco Ltd now owns 45,008 shares of the company’s stock worth $1,016,000 after acquiring an additional 31,844 shares in the last quarter. Institutional investors and hedge funds 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.