Canaccord Genuity Group Has Lowered Expectations for 10x Genomics (NASDAQ:TXG) Stock Price

10x Genomics (NASDAQ:TXG) had its price target cut by research analysts at Canaccord Genuity Group from $20.00 to $18.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 46.22% from the company’s current price.

Several other equities analysts have also issued reports on TXG. Morgan Stanley decreased their target price on 10x Genomics from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of 10x Genomics in a research note on Saturday, February 1st. Citigroup decreased their target price on 10x Genomics from $23.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday. Leerink Partners lowered 10x Genomics from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $25.00 to $12.00 in a research note on Thursday. Finally, Barclays decreased their target price on 10x Genomics from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.57.

10x Genomics Stock Up 3.1 %

Shares of 10x Genomics stock opened at $12.31 on Thursday. 10x Genomics has a 52 week low of $10.80 and a 52 week high of $51.22. The business’s fifty day simple moving average is $14.68 and its 200-day simple moving average is $17.37. The firm has a market cap of $1.49 billion, a PE ratio of -8.05 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.08). 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. As a group, equities analysts expect that 10x Genomics will post -1.43 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC increased its holdings in shares of 10x Genomics by 451.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock valued at $35,000 after acquiring an additional 1,265 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of 10x Genomics in the 3rd quarter valued at about $35,000. Blue Trust Inc. increased its holdings in shares of 10x Genomics by 136.5% in the 3rd quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock valued at $40,000 after acquiring an additional 1,025 shares during the last quarter. Signaturefd LLC increased its holdings in shares of 10x Genomics by 424.6% in the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock valued at $26,000 after acquiring an additional 1,452 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in shares of 10x Genomics by 1,108.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,442 shares of the company’s stock valued at $55,000 after acquiring an additional 2,240 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

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.