10x Genomics, Inc. (NASDAQ:TXG) Given Average Rating of “Hold” by Brokerages

10x Genomics, Inc. (NASDAQ:TXG) has been given an average rating of “Hold” by the seventeen ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $20.57.

A number of equities analysts recently issued reports on TXG shares. Morgan Stanley dropped their price objective on shares of 10x Genomics from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. JPMorgan Chase & Co. cut their price objective on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. The Goldman Sachs Group reduced their price objective on 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a research note on Wednesday, October 30th. Canaccord Genuity Group lowered their target price on 10x Genomics from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, Citigroup reduced their price target on 10x Genomics from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, February 13th.

10x Genomics Stock Performance

Shares of TXG stock opened at $10.90 on Wednesday. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -7.17 and a beta of 1.85. 10x Genomics has a one year low of $10.80 and a one year high of $48.42. The company’s 50-day moving average is $14.31 and its 200 day moving average is $17.08.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Wednesday, February 12th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.08). 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. As a group, research analysts predict that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On 10x Genomics

A number of institutional investors have recently added to or reduced their stakes in the stock. Creative Planning purchased a new position in shares of 10x Genomics during the 3rd quarter worth $214,000. Blue Trust Inc. boosted its stake in 10x Genomics by 136.5% during the third quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock worth $40,000 after buying an additional 1,025 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of 10x Genomics by 2,280.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 38,963 shares of the company’s stock valued at $880,000 after acquiring an additional 37,326 shares during the last quarter. Lecap Asset Management Ltd. purchased a new stake in shares of 10x Genomics in the 3rd quarter valued at approximately $877,000. Finally, International Assets Investment Management LLC acquired a new position in shares of 10x Genomics in the 3rd quarter worth approximately $438,000. Hedge funds and other institutional investors 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.