Morgan Stanley Lowers 10x Genomics (NASDAQ:TXG) Price Target to $26.00

10x Genomics (NASDAQ:TXG) had its price target reduced by stock analysts at Morgan Stanley from $28.00 to $26.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 111.21% from the company’s current price.

A number of other research firms also recently weighed in on TXG. Citigroup reduced their target price on shares of 10x Genomics from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday. Stifel Nicolaus reduced their target price on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday. UBS Group reduced their target price on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. reduced their target price on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Barclays cut their price objective on shares of 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 analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $20.57.

10x Genomics Trading Up 3.1 %

Shares of NASDAQ TXG opened at $12.31 on Friday. 10x Genomics has a 12 month low of $10.80 and a 12 month high of $51.22. The firm has a market capitalization of $1.49 billion, a PE ratio of -8.05 and a beta of 1.85. The firm has a fifty day simple moving average of $14.68 and a two-hundred day simple moving average of $17.35.

10x Genomics (NASDAQ:TXG) last released 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, sell-side analysts predict that 10x Genomics will post -1.43 earnings per share for the current year.

Institutional Trading of 10x Genomics

A number of institutional investors have recently made changes to their positions in the stock. RA Capital Management L.P. bought a new position in shares of 10x Genomics in the 4th quarter worth approximately $47,092,000. Assenagon Asset Management S.A. bought a new position in shares of 10x Genomics in the 4th quarter worth approximately $26,308,000. ARK Investment Management LLC lifted its stake in shares of 10x Genomics by 15.4% in the 3rd quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company’s stock worth $242,743,000 after purchasing an additional 1,436,582 shares during the period. Point72 Asset Management L.P. bought a new position in shares of 10x Genomics in the 3rd quarter worth approximately $27,778,000. Finally, SVB Wealth LLC bought a new position in shares of 10x Genomics in the 4th quarter worth approximately $7,505,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

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.