10x Genomics (NASDAQ:TXG) Trading Up 4.3% – Still a Buy?

10x Genomics, Inc. (NASDAQ:TXG)’s share price rose 4.3% during trading on Monday . The company traded as high as $14.67 and last traded at $14.65. Approximately 898,547 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 1,746,921 shares. The stock had previously closed at $14.04.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TXG. Stephens reaffirmed an “overweight” rating and issued a $30.00 price objective on shares of 10x Genomics in a research report on Thursday, October 10th. JPMorgan Chase & Co. reduced 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. Leerink Partnrs raised 10x Genomics to a “strong-buy” rating in a report on Tuesday, September 3rd. Barclays cut their price objective on shares of 10x Genomics from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Finally, Leerink Partners assumed coverage on shares of 10x Genomics in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $25.14.

10x Genomics Trading Down 0.4 %

The stock has a market cap of $1.78 billion, a PE ratio of -9.59 and a beta of 1.84. The business has a 50 day moving average of $15.23 and a 200-day moving average of $18.56.

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

Institutional Investors Weigh In On 10x Genomics

Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC increased its stake in shares of 10x Genomics by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company’s stock worth $41,009,000 after purchasing an additional 42,777 shares in the last quarter. M&T Bank Corp purchased a new position in 10x Genomics during the third quarter worth $203,000. Barclays PLC raised its holdings in shares of 10x Genomics by 11.7% in the third quarter. Barclays PLC now owns 602,536 shares of the company’s stock worth $13,605,000 after acquiring an additional 63,079 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of 10x Genomics in the third quarter worth $402,000. Finally, XTX Topco Ltd lifted its position in shares of 10x Genomics by 241.9% in the third quarter. XTX Topco Ltd now owns 45,008 shares of the company’s stock valued at $1,016,000 after acquiring an additional 31,844 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

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.