Barclays Cuts 10x Genomics (NASDAQ:TXG) Price Target to $18.00

10x Genomics (NASDAQ:TXG) had its price objective dropped by equities researchers at Barclays from $19.00 to $18.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 26.32% from the company’s previous close.

A number of other research firms also recently issued reports on TXG. The Goldman Sachs Group decreased their price objective on 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a report on Wednesday, October 30th. Morgan Stanley dropped their price target on shares of 10x Genomics from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. JPMorgan Chase & Co. lowered 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. Citigroup cut their target price on shares of 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, Weiss Ratings reissued a “sell (e+)” rating on shares of 10x Genomics in a report on Saturday, February 1st. One research analyst has rated the stock with a sell rating, seven have issued 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, 10x Genomics currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.79.

10x Genomics Stock Down 2.7 %

NASDAQ:TXG opened at $14.25 on Monday. The firm has a market capitalization of $1.72 billion, a P/E ratio of -9.31 and a beta of 1.85. The company has a fifty day moving average of $15.06 and a 200 day moving average of $17.62. 10x Genomics has a 52 week low of $12.95 and a 52 week high of $51.22.

Hedge Funds Weigh In On 10x Genomics

Several hedge funds have recently added to or reduced their stakes in TXG. Assenagon Asset Management S.A. purchased a new stake in shares of 10x Genomics during the fourth quarter valued at $26,308,000. ARK Investment Management LLC lifted its holdings in 10x Genomics by 15.4% during the 3rd quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company’s stock valued at $242,743,000 after buying an additional 1,436,582 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in 10x Genomics in the 3rd quarter valued at about $27,778,000. SVB Wealth LLC bought a new position in 10x Genomics in the 4th quarter worth about $7,505,000. Finally, FMR LLC increased its position in shares of 10x Genomics by 2.7% during the third quarter. FMR LLC now owns 13,367,979 shares of the company’s stock worth $301,849,000 after acquiring an additional 357,470 shares during the period. 84.68% of the stock is currently owned by institutional investors.

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.