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

10x Genomics (NASDAQ:TXG) had its target price reduced by analysts at UBS Group from $20.00 to $14.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price objective would indicate a potential upside of 13.73% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of 10x Genomics in a research note on Saturday, February 1st. The Goldman Sachs Group lowered their target price on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lowered their price objective on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Leerink Partners downgraded shares of 10x Genomics from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $25.00 to $12.00 in a research note on Thursday. Finally, Morgan Stanley reduced their target price on shares of 10x Genomics from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $20.57.

10x Genomics Stock Up 3.1 %

TXG opened at $12.31 on Thursday. The firm has a 50-day simple moving average of $14.68 and a two-hundred day simple moving average of $17.37. 10x Genomics has a 52 week low of $10.80 and a 52 week high of $51.22. The company has a market capitalization 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 analysts’ consensus estimates 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, sell-side analysts expect that 10x Genomics will post -1.43 earnings per share for the current year.

Hedge Funds Weigh In On 10x Genomics

Several hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC boosted its stake in shares of 10x Genomics by 424.6% during the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock worth $26,000 after purchasing an additional 1,452 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in 10x Genomics during the third quarter valued at approximately $35,000. GAMMA Investing LLC lifted its position in 10x Genomics by 451.8% during the third quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock valued at $35,000 after buying an additional 1,265 shares in the last quarter. Blue Trust Inc. lifted its position in 10x Genomics by 136.5% during the third quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock valued at $40,000 after buying an additional 1,025 shares in the last quarter. Finally, Sound Income Strategies LLC raised its stake in shares of 10x Genomics by 65.2% during the fourth quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock valued at $48,000 after purchasing an additional 1,330 shares during the period. 84.68% of the stock is currently owned by hedge funds and other 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.