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

10x Genomics, Inc. (NASDAQ:TXG) has been given an average rating of “Moderate Buy” by the seventeen brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $23.86.

A number of research firms recently commented on TXG. JPMorgan Chase & Co. reduced their price objective on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Barclays reduced their price target on 10x Genomics from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Stephens reiterated an “overweight” rating and set a $30.00 target price on shares of 10x Genomics in a research report on Thursday, October 10th. UBS Group dropped their price target on 10x Genomics from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group dropped their price target on 10x Genomics from $32.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, October 10th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Savant Capital LLC increased its holdings in shares of 10x Genomics by 69.3% in the 4th quarter. Savant Capital LLC now owns 40,247 shares of the company’s stock valued at $578,000 after acquiring an additional 16,480 shares during the period. Entropy Technologies LP lifted its holdings in shares of 10x Genomics by 285.6% in the 4th quarter. Entropy Technologies LP now owns 37,595 shares of the company’s stock valued at $540,000 after buying an additional 27,844 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of 10x Genomics in the 4th quarter valued at about $52,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of 10x Genomics in the 4th quarter valued at about $326,000. Finally, KBC Group NV increased its stake in shares of 10x Genomics by 57.3% in the 4th quarter. KBC Group NV now owns 5,072 shares of the company’s stock valued at $73,000 after purchasing an additional 1,847 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

10x Genomics Stock Performance

10x Genomics stock opened at $14.84 on Friday. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -9.70 and a beta of 1.83. 10x Genomics has a 12 month low of $12.95 and a 12 month high of $51.22. The business’s fifty day simple moving average is $15.11 and its two-hundred day simple moving average is $17.80.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. The firm had revenue of $151.65 million for the quarter, compared to the consensus estimate of $158.84 million. 10x Genomics had a negative return on equity of 25.07% and a negative net margin of 28.93%. The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.51) earnings per share. On average, equities research analysts predict that 10x Genomics will post -1.43 EPS for the current year.

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.