Morgan Stanley Cuts 10x Genomics (NASDAQ:TXG) Price Target to $28.00

10x Genomics (NASDAQ:TXG) had its target price reduced by Morgan Stanley from $30.00 to $28.00 in a report released on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

TXG has been the subject of a number of other reports. Citigroup lowered their price objective on 10x Genomics from $35.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. The Goldman Sachs Group dropped their price objective on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating on the stock in a research report on Wednesday, October 30th. JPMorgan Chase & Co. decreased 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 report on Wednesday, October 30th. Barclays dropped their target price on 10x Genomics from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Finally, Stephens reaffirmed an “overweight” rating and set a $30.00 price target on shares of 10x Genomics in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.86.

10x Genomics Trading Down 3.0 %

10x Genomics stock opened at $14.98 on Monday. The company’s 50 day moving average is $15.02 and its two-hundred day moving average is $18.02. 10x Genomics has a 52-week low of $12.95 and a 52-week high of $51.22.

10x Genomics (NASDAQ:TXG) last released its earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. 10x Genomics had a negative return on equity of 25.07% and a negative net margin of 28.93%. The firm had revenue of $151.65 million during the quarter, compared to analyst estimates of $158.84 million. During the same period last year, the business posted ($0.51) earnings per share. 10x Genomics’s revenue was down 1.3% compared to the same quarter last year. As a group, equities analysts forecast that 10x Genomics will post -1.43 EPS for the current fiscal year.

Hedge Funds Weigh In On 10x Genomics

A number of hedge funds have recently modified their holdings of the business. FMR LLC raised its position in 10x Genomics by 2.7% in the 3rd quarter. FMR LLC now owns 13,367,979 shares of the company’s stock valued at $301,849,000 after purchasing an additional 357,470 shares during the last quarter. ARK Investment Management LLC raised its holdings in shares of 10x Genomics by 15.4% in the third quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company’s stock valued at $242,743,000 after buying an additional 1,436,582 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake 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 buying an additional 230,145 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of 10x Genomics during the fourth quarter worth about $26,308,000. Finally, Geode Capital Management LLC increased its position in 10x Genomics by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company’s stock valued at $41,009,000 after acquiring an additional 42,777 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.