10x Genomics (NASDAQ:TXG) Stock Price Up 11.6% – Should You Buy?

10x Genomics, Inc. (NASDAQ:TXG) shares traded up 11.6% on Friday . The company traded as high as $15.84 and last traded at $15.83. 1,111,755 shares changed hands during trading, an increase of 2% from the average session volume of 1,086,528 shares. The stock had previously closed at $14.19.

Analysts Set New Price Targets

TXG has been the topic of several analyst reports. Stephens reaffirmed an “overweight” rating and set a $30.00 price target on shares of 10x Genomics in a research report on Thursday, October 10th. The Goldman Sachs Group cut 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. Barclays lowered their price target on 10x Genomics from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Citigroup cut 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. Finally, UBS Group decreased their target price on 10x Genomics from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.14.

10x Genomics Stock Up 11.6 %

The stock has a fifty day moving average price of $15.11 and a two-hundred day moving average price of $18.27. The company has a market cap of $1.92 billion, a price-to-earnings ratio of -10.35 and a beta of 1.84.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.04. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. The business had revenue of $151.65 million during the quarter, compared to analysts’ expectations of $158.84 million. During the same quarter in the previous year, the company earned ($0.51) EPS. The business’s revenue was down 1.3% on a year-over-year basis. Analysts predict that 10x Genomics, Inc. will post -1.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. FMR LLC lifted its stake in 10x Genomics by 2.7% during the third quarter. FMR LLC now owns 13,367,979 shares of the company’s stock worth $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% during the 3rd quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company’s stock worth $242,743,000 after buying an additional 1,436,582 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of 10x Genomics by 3.7% during the 3rd 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 last quarter. Geode Capital Management LLC boosted its stake in 10x Genomics by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company’s stock valued at $41,009,000 after buying an additional 42,777 shares in the last quarter. Finally, State Street Corp boosted its stake in 10x Genomics by 7.1% in the third quarter. State Street Corp now owns 1,750,643 shares of the company’s stock valued at $39,530,000 after buying an additional 116,534 shares in the last quarter. 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.