UBS Group Cuts 10x Genomics (NASDAQ:TXG) Price Target to $14.00

10x Genomics (NASDAQ:TXG) had its price objective cut by equities research analysts at UBS Group from $20.00 to $14.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s target price indicates a potential upside of 19.44% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Citigroup dropped their target price on shares of 10x Genomics from $35.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Morgan Stanley dropped their target price on shares of 10x Genomics from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Barclays dropped their target price on shares of 10x Genomics from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday. JPMorgan Chase & Co. dropped their target price on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of 10x Genomics in a report on Saturday, February 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $21.21.

10x Genomics Price Performance

NASDAQ:TXG traded down $0.28 on Thursday, hitting $11.72. 1,314,605 shares of the company’s stock were exchanged, compared to its average volume of 2,286,820. The firm has a 50-day moving average price of $14.82 and a 200-day moving average price of $17.47. 10x Genomics has a 52 week low of $10.80 and a 52 week high of $51.22. The company has a market cap of $1.42 billion, a P/E ratio of -7.68 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate 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%. On average, research analysts expect that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Institutional Trading of 10x Genomics

Several large investors have recently made changes to their positions in the company. FMR LLC boosted its position in shares of 10x Genomics by 0.6% during the 4th quarter. FMR LLC now owns 13,454,434 shares of the company’s stock worth $193,206,000 after acquiring an additional 86,455 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of 10x Genomics by 70.1% during the 4th quarter. Russell Investments Group Ltd. now owns 16,818 shares of the company’s stock worth $242,000 after acquiring an additional 6,932 shares in the last quarter. Grant Private Wealth Management Inc acquired a new stake in shares of 10x Genomics during the 4th quarter worth approximately $209,000. Bryce Point Capital LLC acquired a new stake in shares of 10x Genomics during the 4th quarter worth approximately $448,000. Finally, Trexquant Investment LP boosted its position in shares of 10x Genomics by 196.2% during the 4th quarter. Trexquant Investment LP now owns 594,611 shares of the company’s stock worth $8,539,000 after acquiring an additional 393,854 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.