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

Shares of 10x Genomics, Inc. (NASDAQ:TXG) have been given an average recommendation of “Moderate Buy” by the seventeen analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $25.14.

A number of research firms recently weighed in on TXG. JPMorgan Chase & Co. decreased their price target on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Citigroup lowered their price target on shares of 10x Genomics from $35.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Barclays reduced their price objective on shares of 10x Genomics from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Stephens reaffirmed an “overweight” rating and issued a $30.00 target price on shares of 10x Genomics in a report on Thursday, October 10th. Finally, UBS Group decreased their price target on 10x Genomics from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th.

10x Genomics Stock Up 9.9 %

TXG opened at $15.60 on Tuesday. 10x Genomics has a 52 week low of $12.95 and a 52 week high of $54.72. The business’s 50 day moving average is $15.12 and its two-hundred day moving average is $18.23. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of -10.20 and a beta of 1.84.

10x Genomics (NASDAQ:TXG) last announced its earnings results 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. The business had revenue of $151.65 million during the quarter, compared to the consensus estimate of $158.84 million. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.51) earnings per share. Equities analysts expect that 10x Genomics will post -1.4 EPS for the current fiscal year.

Hedge Funds Weigh In On 10x Genomics

A number of large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of 10x Genomics by 134.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,637 shares of the company’s stock valued at $32,000 after acquiring an additional 939 shares in the last quarter. GAMMA Investing LLC lifted its stake 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 worth $35,000 after purchasing an additional 1,265 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of 10x Genomics in the third quarter worth about $35,000. Blue Trust Inc. grew its stake in shares of 10x Genomics by 136.5% in 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 purchased a new stake in shares of 10x Genomics during the 3rd quarter valued at about $46,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

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.