10x Genomics (NASDAQ:TXG) Given New $28.00 Price Target at Morgan Stanley

10x Genomics (NASDAQ:TXG) had its price objective lowered by Morgan Stanley from $30.00 to $28.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

TXG has been the subject of several other research reports. Barclays reduced their price objective on shares of 10x Genomics from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Canaccord Genuity Group reduced their price objective on shares of 10x Genomics from $32.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. UBS Group reduced their price target on shares of 10x Genomics from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Citigroup reduced their price target 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, The Goldman Sachs Group reduced their price target on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a research report on Wednesday, October 30th. One 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’s stock. According to MarketBeat, 10x Genomics has an average rating of “Moderate Buy” and an average price target of $23.86.

10x Genomics Stock Performance

NASDAQ:TXG opened at $15.71 on Monday. The company has a market capitalization of $1.90 billion, a PE ratio of -10.27 and a beta of 1.83. The company has a 50 day simple moving average of $15.06 and a two-hundred day simple moving average of $18.05. 10x Genomics has a fifty-two week low of $12.95 and a fifty-two week high of $51.22.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.04. The company had revenue of $151.65 million during the quarter, compared to the consensus estimate of $158.84 million. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.51) EPS. Research analysts predict that 10x Genomics will post -1.4 EPS for the current year.

Hedge Funds Weigh In On 10x Genomics

Several large investors have recently bought and sold shares of the stock. Green Alpha Advisors LLC bought a new position in 10x Genomics during the 4th quarter valued at $355,000. Diversified Trust Co bought a new stake in shares of 10x Genomics during the 4th quarter worth $511,000. JPMorgan Chase & Co. raised its stake in shares of 10x Genomics by 355.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 355,488 shares of the company’s stock worth $8,027,000 after purchasing an additional 277,355 shares during the period. Geode Capital Management LLC raised 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 during the period. Finally, M&T Bank Corp bought a new stake in shares of 10x Genomics during the 3rd quarter worth $203,000. 84.68% of the stock is currently owned by institutional investors.

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.