10x Genomics (NASDAQ:TXG) Price Target Cut to $28.00 by Analysts at Morgan Stanley

10x Genomics (NASDAQ:TXG) had its price objective dropped by equities researchers at Morgan Stanley from $30.00 to $28.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 72.20% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Stephens restated an “overweight” rating and set a $30.00 target price on shares of 10x Genomics in a research report on Thursday, October 10th. Canaccord Genuity Group lowered their price objective 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. Barclays cut their target price on 10x Genomics from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Citigroup lowered their price target on 10x Genomics from $35.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. cut their price objective on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.86.

10x Genomics Stock Up 4.4 %

Shares of TXG stock traded up $0.68 during mid-day trading on Monday, reaching $16.26. 1,352,200 shares of the company’s stock traded hands, compared to its average volume of 1,617,387. The company’s 50-day moving average price is $15.08 and its 200-day moving average price is $18.08. The company has a market cap of $1.97 billion, a P/E ratio of -10.63 and a beta of 1.83. 10x Genomics has a 12 month low of $12.95 and a 12 month high of $51.22.

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, topping analysts’ consensus estimates 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 company had revenue of $151.65 million during the quarter, compared to analyst estimates of $158.84 million. During the same period in the previous year, the business earned ($0.51) EPS. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. Equities analysts predict that 10x Genomics will post -1.4 earnings per share for the current year.

Institutional Trading of 10x Genomics

A number of hedge funds have recently modified their holdings of the business. KBC Group NV raised its position in shares of 10x Genomics by 38.8% in the third quarter. KBC Group NV now owns 3,225 shares of the company’s stock valued at $73,000 after purchasing an additional 902 shares during the period. First Horizon Advisors Inc. increased its stake in shares of 10x Genomics by 53.3% in the third quarter. First Horizon Advisors Inc. now owns 2,910 shares of the company’s stock worth $66,000 after purchasing an additional 1,012 shares during the period. Blue Trust Inc. boosted its stake in 10x Genomics by 136.5% during the 3rd quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock valued at $40,000 after purchasing an additional 1,025 shares during the period. GAMMA Investing LLC increased its position in 10x Genomics by 451.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock worth $35,000 after buying an additional 1,265 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in shares of 10x Genomics in the third quarter valued at approximately $35,000. 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.