10x Genomics, Inc. (NASDAQ:TXG) Receives Consensus Rating of “Moderate Buy” from Analysts

10x Genomics, Inc. (NASDAQ:TXG) has been given an average rating of “Moderate Buy” by the seventeen analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $25.14.

Several research firms have commented on TXG. JPMorgan Chase & Co. lowered their price target on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Leerink Partners began coverage on 10x Genomics in a report on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price target for the company. Citigroup lowered their price target on 10x Genomics from $35.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Stephens restated an “overweight” rating and issued a $30.00 price target on shares of 10x Genomics in a report on Thursday, October 10th. Finally, The Goldman Sachs Group lowered their price target on 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a report on Wednesday, October 30th.

Institutional Investors Weigh In On 10x Genomics

Several hedge funds and other institutional investors have recently modified their holdings of TXG. KBC Group NV increased its stake in 10x Genomics by 38.8% during the third quarter. KBC Group NV now owns 3,225 shares of the company’s stock valued at $73,000 after acquiring an additional 902 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of 10x Genomics by 134.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,637 shares of the company’s stock valued at $32,000 after purchasing an additional 939 shares during the period. First Horizon Advisors Inc. lifted its position in 10x Genomics by 53.3% in the third quarter. First Horizon Advisors Inc. now owns 2,910 shares of the company’s stock worth $66,000 after purchasing an additional 1,012 shares during the period. Blue Trust Inc. lifted its holdings in shares of 10x Genomics by 136.5% during the 3rd quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock worth $40,000 after acquiring an additional 1,025 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of 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 acquiring an additional 1,265 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

10x Genomics Trading Down 1.6 %

Shares of TXG opened at $14.35 on Tuesday. The firm has a market cap of $1.74 billion, a PE ratio of -9.38 and a beta of 1.84. The company’s 50 day simple moving average is $15.19 and its 200-day simple moving average is $18.41. 10x Genomics has a 12-month low of $12.95 and a 12-month high of $55.96.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. The firm had revenue of $151.65 million for the quarter, compared to analyst estimates of $158.84 million. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. 10x Genomics’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the firm posted ($0.51) EPS. As a group, equities research analysts forecast that 10x Genomics will post -1.4 EPS for the current fiscal year.

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.