Citigroup Has Lowered Expectations for 10x Genomics (NASDAQ:TXG) Stock Price

10x Genomics (NASDAQ:TXG - Free Report) had its target price lowered by Citigroup from $23.00 to $20.00 in a report published on Thursday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other research analysts have also recently weighed in on TXG. Barclays dropped their price target on 10x Genomics from $19.00 to $18.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. Weiss Ratings reissued a "sell (e+)" rating on shares of 10x Genomics in a research note on Saturday, February 1st. JPMorgan Chase & Co. reduced their price objective on 10x Genomics from $14.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday. Leerink Partners downgraded 10x Genomics from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $25.00 to $12.00 in a report on Thursday. Finally, The Goldman Sachs Group dropped their target price on 10x Genomics from $16.00 to $14.00 and set a "sell" rating on the stock in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $20.57.

10x Genomics Stock Up 3.1 %

Shares of NASDAQ TXG traded up $0.37 during mid-day trading on Thursday, hitting $12.31. 4,354,670 shares of the company were exchanged, compared to its average volume of 1,977,831. The stock has a 50 day simple moving average of $14.68 and a 200-day simple moving average of $17.33. 10x Genomics has a 1-year low of $10.80 and a 1-year high of $51.22. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of -8.05 and a beta of 1.85.

10x Genomics (NASDAQ:TXG - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.40) earnings per share (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%. Analysts anticipate 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 have recently made changes to their positions in TXG. Signaturefd LLC boosted its position in 10x Genomics by 424.6% during the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company's stock valued at $26,000 after purchasing an additional 1,452 shares during the period. Capital Performance Advisors LLP acquired a new position in 10x Genomics during the 3rd quarter valued at approximately $35,000. GAMMA Investing LLC boosted its position in 10x Genomics by 451.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,545 shares of the company's stock valued at $35,000 after purchasing an additional 1,265 shares during the period. Blue Trust Inc. boosted its position in 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 period. Finally, Sound Income Strategies LLC boosted its position in 10x Genomics by 65.2% during the 4th quarter. Sound Income Strategies LLC now owns 3,370 shares of the company's stock valued at $48,000 after purchasing an additional 1,330 shares during the period. 84.68% of the stock is currently owned by 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.