10x Genomics (NASDAQ:TXG) Trading Up 8.3% – What’s Next?

10x Genomics, Inc. (NASDAQ:TXG)’s stock price rose 8.3% during mid-day trading on Friday . The company traded as high as $13.07 and last traded at $12.93. Approximately 1,251,023 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 2,408,836 shares. The stock had previously closed at $11.94.

Wall Street Analyst Weigh In

TXG has been the subject of several recent analyst reports. Leerink Partners cut 10x Genomics from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $25.00 to $12.00 in a research note on Thursday. JPMorgan Chase & Co. lowered 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 note on Thursday. Weiss Ratings reissued a “sell (e+)” rating on shares of 10x Genomics in a research note on Saturday, February 1st. Barclays decreased their price target on shares of 10x Genomics from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Citigroup cut their price objective on shares of 10x Genomics from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday. 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 stock. Based on data from MarketBeat, 10x Genomics has a consensus rating of “Hold” and an average price target of $20.57.

10x Genomics Stock Up 6.0 %

The company has a 50-day moving average of $14.75 and a 200-day moving average of $17.43. The company has a market cap of $1.53 billion, a PE ratio of -8.28 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last posted 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, equities analysts predict that 10x Genomics, Inc. will post -1.43 EPS for the current year.

Institutional Investors Weigh In On 10x Genomics

A number of institutional investors have recently added to or reduced their stakes in TXG. GAMMA Investing LLC boosted its stake in shares of 10x Genomics by 451.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock worth $35,000 after buying an additional 1,265 shares during the last quarter. CWM LLC boosted its position in 10x Genomics by 444.5% in the third quarter. CWM LLC now owns 22,810 shares of the company’s stock worth $515,000 after purchasing an additional 18,621 shares during the last quarter. Creative Planning purchased a new position in 10x Genomics in the third quarter worth $214,000. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in 10x Genomics by 82.6% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 20,232 shares of the company’s stock valued at $457,000 after purchasing an additional 9,151 shares during the period. Finally, Blue Trust Inc. increased its position in shares of 10x Genomics by 136.5% during the 3rd quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock valued at $40,000 after purchasing an additional 1,025 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

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.