10x Genomics, Inc. (NASDAQ:TXG) Receives Average Rating of “Moderate Buy” from Analysts

Shares of 10x Genomics, Inc. (NASDAQ:TXG) have been assigned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $25.14.

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

10x Genomics Price Performance

Shares of TXG stock opened at $15.60 on Tuesday. The company’s fifty day moving average price is $15.12 and its two-hundred day moving average price is $18.23. The firm has a market capitalization of $1.89 billion, a P/E ratio of -10.20 and a beta of 1.84. 10x Genomics has a 12 month low of $12.95 and a 12 month high of $54.72.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TXG. Lecap Asset Management Ltd. acquired a new position in 10x Genomics during the 3rd quarter valued at about $877,000. Geode Capital Management LLC boosted its holdings in shares of 10x Genomics by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company’s stock valued at $41,009,000 after acquiring an additional 42,777 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of 10x Genomics during the second quarter valued at approximately $689,000. Point72 Asset Management L.P. acquired a new position in shares of 10x Genomics during the third quarter valued at approximately $27,778,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in 10x Genomics by 10,124.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 44,785 shares of the company’s stock worth $871,000 after purchasing an additional 44,347 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

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.