Stifel Nicolaus Has Lowered Expectations for 10x Genomics (NASDAQ:TXG) Stock Price

10x Genomics (NASDAQ:TXG) had its target price cut by investment analysts at Stifel Nicolaus from $21.00 to $18.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 46.22% from the stock’s current price.

A number of other equities analysts also recently weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of 10x Genomics in a research note on Saturday, February 1st. Citigroup cut their target price on 10x Genomics from $35.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. The Goldman Sachs Group cut their target price on 10x Genomics from $16.00 to $14.00 and set a “sell” rating on the stock in a research note on Wednesday, October 30th. UBS Group dropped their price objective on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Leerink Partners downgraded 10x Genomics from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $25.00 to $12.00 in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, 10x Genomics has a consensus rating of “Hold” and an average target price of $20.57.

10x Genomics Stock Performance

Shares of TXG opened at $12.31 on Thursday. The stock has a 50 day moving average price of $14.68 and a two-hundred day moving average price of $17.37. The firm has a market capitalization of $1.49 billion, a P/E ratio of -8.05 and a beta of 1.85. 10x Genomics has a 52 week low of $10.80 and a 52 week high of $51.22.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share 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 analysts forecast that 10x Genomics will post -1.43 earnings per share for the current year.

Institutional Investors Weigh In On 10x Genomics

Several institutional investors have recently made changes to their positions in the stock. RA Capital Management L.P. purchased a new stake in shares of 10x Genomics during the fourth quarter worth $47,092,000. Jane Street Group LLC lifted its position in shares of 10x Genomics by 48.4% during the fourth quarter. Jane Street Group LLC now owns 360,257 shares of the company’s stock worth $5,173,000 after acquiring an additional 117,449 shares in the last quarter. Voleon Capital Management LP bought a new position in shares of 10x Genomics in the fourth quarter worth $205,000. PDT Partners LLC increased its holdings in shares of 10x Genomics by 176.4% in the fourth quarter. PDT Partners LLC now owns 354,958 shares of the company’s stock worth $5,097,000 after purchasing an additional 226,513 shares during the period. Finally, Schonfeld Strategic Advisors LLC increased its holdings in shares of 10x Genomics by 140.4% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 151,693 shares of the company’s stock worth $2,178,000 after purchasing an additional 88,583 shares during the period. 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.