Citigroup Lowers 10x Genomics (NASDAQ:TXG) Price Target to $20.00

10x Genomics (NASDAQ:TXG) had its price target decreased by equities research analysts at Citigroup from $23.00 to $20.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 62.47% from the company’s current price.

A number of other brokerages have also recently commented on TXG. UBS Group decreased their price target on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday. Leerink Partners cut 10x Genomics from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $25.00 to $12.00 in a research report on Thursday. JPMorgan Chase & Co. decreased their target price on 10x Genomics from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday. 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 report on Monday, January 13th. 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 report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, 10x Genomics presently has a consensus rating of “Hold” and a consensus target price of $20.57.

10x Genomics Stock Performance

TXG opened at $12.31 on Thursday. 10x Genomics has a fifty-two week low of $10.80 and a fifty-two week high of $51.22. The company has a market capitalization of $1.49 billion, a P/E ratio of -8.05 and a beta of 1.85. The stock has a fifty day moving average of $14.68 and a 200-day moving average of $17.37.

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

Hedge Funds Weigh In On 10x Genomics

Several institutional investors have recently added to or reduced their stakes in TXG. FMR LLC raised its position in shares of 10x Genomics by 0.6% during the fourth quarter. FMR LLC now owns 13,454,434 shares of the company’s stock worth $193,206,000 after purchasing an additional 86,455 shares during the period. ARK Investment Management LLC raised its position in shares of 10x Genomics by 11.1% during the fourth quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock worth $171,517,000 after purchasing an additional 1,193,712 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of 10x Genomics by 3.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,373,212 shares of the company’s stock worth $143,907,000 after purchasing an additional 230,145 shares during the period. RA Capital Management L.P. acquired a new position in shares of 10x Genomics during the fourth quarter worth approximately $47,092,000. Finally, Assenagon Asset Management S.A. bought a new stake in 10x Genomics during the fourth quarter worth $26,308,000. 84.68% of the stock is owned by institutional investors and hedge funds.

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.