Stifel Nicolaus Issues Pessimistic Forecast for 10x Genomics (NASDAQ:TXG) Stock Price

10x Genomics (NASDAQ:TXG) had its price objective dropped by equities researchers at Stifel Nicolaus from $21.00 to $18.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 53.57% from the company’s previous close.

A number of other equities research analysts have also commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a research note on Saturday, February 1st. JPMorgan Chase & Co. cut their price target on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. 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. Morgan Stanley dropped their price objective on 10x Genomics from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Finally, Barclays decreased their target price on 10x Genomics from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $21.21.

10x Genomics Price Performance

NASDAQ TXG traded down $0.28 on Thursday, reaching $11.72. The company had a trading volume of 1,314,605 shares, compared to its average volume of 2,286,820. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -7.68 and a beta of 1.85. 10x Genomics has a fifty-two week low of $10.80 and a fifty-two week high of $51.22. The business has a 50 day moving average of $14.82 and a two-hundred day moving average of $17.47.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) 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%. As a group, research analysts predict that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On 10x Genomics

A number of institutional investors and hedge funds have recently made changes to their positions in TXG. JPMorgan Chase & Co. increased its holdings in 10x Genomics by 355.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 355,488 shares of the company’s stock worth $8,027,000 after purchasing an additional 277,355 shares in the last quarter. Lecap Asset Management Ltd. bought a new stake in 10x Genomics during the third quarter worth $877,000. Geode Capital Management LLC grew its holdings in 10x Genomics by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company’s stock worth $41,009,000 after buying an additional 42,777 shares in the last quarter. SG Americas Securities LLC raised its position in 10x Genomics by 209.8% in the 4th quarter. SG Americas Securities LLC now owns 73,046 shares of the company’s stock valued at $1,049,000 after buying an additional 49,468 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in 10x Genomics during the 3rd quarter valued at $27,778,000. Institutional investors and hedge funds 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.