10x Genomics (NASDAQ:TXG) Sets New 12-Month Low on Analyst Downgrade

10x Genomics, Inc. (NASDAQ:TXG - Get Free Report) shares reached a new 52-week low during trading on Monday after Morgan Stanley lowered their price target on the stock from $28.00 to $26.00. Morgan Stanley currently has an overweight rating on the stock. 10x Genomics traded as low as $12.37 and last traded at $12.59, with a volume of 1016713 shares changing hands. The stock had previously closed at $14.25.

TXG has been the topic of a number of other reports. UBS Group cut 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 Thursday. Stifel Nicolaus cut their target price on shares of 10x Genomics from $21.00 to $18.00 and set a "buy" rating on the stock in a report on Thursday. Leerink Partnrs downgraded shares of 10x Genomics from a "strong-buy" rating to a "hold" rating in a research note on Thursday. The Goldman Sachs Group decreased their target price on shares of 10x Genomics from $16.00 to $14.00 and set a "sell" rating for the company in a research note on Wednesday, October 30th. Finally, Barclays decreased their target price 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. 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. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $20.57.

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Institutional Investors Weigh In On 10x Genomics

A number of hedge funds and other institutional investors have recently bought and sold shares of TXG. RA Capital Management L.P. acquired a new position in 10x Genomics during the fourth quarter worth about $47,092,000. Jane Street Group LLC grew its position in 10x Genomics by 48.4% during the fourth quarter. Jane Street Group LLC now owns 360,257 shares of the company's stock worth $5,173,000 after buying an additional 117,449 shares during the period. Voleon Capital Management LP acquired a new position in 10x Genomics during the fourth quarter worth $205,000. PDT Partners LLC raised its holdings in 10x Genomics by 176.4% during the fourth quarter. PDT Partners LLC now owns 354,958 shares of the company's stock worth $5,097,000 after purchasing an additional 226,513 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its holdings in 10x Genomics by 140.4% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 151,693 shares of the company's stock worth $2,178,000 after purchasing an additional 88,583 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.

10x Genomics Stock Up 3.1 %

The firm has a fifty day moving average of $14.68 and a 200-day moving average of $17.37. The stock has a market capitalization 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 issued its quarterly earnings data 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 net margin of 28.93% and a negative return on equity of 25.07%. As a group, research analysts forecast that 10x Genomics, Inc. will post -1.43 EPS for the current fiscal year.

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.