10x Genomics (NASDAQ:TXG) Shares Gap Up - Here's What Happened

10x Genomics, Inc. (NASDAQ:TXG - Get Free Report)'s share price gapped up before the market opened on Monday . The stock had previously closed at $15.58, but opened at $16.40. 10x Genomics shares last traded at $16.79, with a volume of 634,919 shares trading hands.

Analysts Set New Price Targets

TXG has been the topic of several recent research reports. Morgan Stanley reduced their price target on 10x Genomics from $30.00 to $28.00 and set an "overweight" rating on the stock in a research note on Monday. JPMorgan Chase & Co. decreased their target price on 10x Genomics from $20.00 to $14.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 30th. Stephens restated an "overweight" rating and set a $30.00 price target on shares of 10x Genomics in a report on Thursday, October 10th. Canaccord Genuity Group decreased their price target on 10x Genomics from $32.00 to $20.00 and set a "buy" rating for the company in a research note on Thursday, October 10th. Finally, Barclays decreased their target price on 10x Genomics from $21.00 to $19.00 and set an "overweight" rating for the company in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $23.86.

10x Genomics Trading Up 0.8 %

The firm's fifty day moving average price is $15.08 and its 200-day moving average price is $18.08. The company has a market cap of $1.90 billion, a P/E ratio of -10.27 and a beta of 1.83.

10x Genomics (NASDAQ:TXG - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.34) by $0.04. The company had revenue of $151.65 million for the quarter, compared to analyst estimates of $158.84 million. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. 10x Genomics's quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.51) earnings per share. As a group, research analysts forecast that 10x Genomics, Inc. will post -1.4 earnings per share for the current fiscal year.

Institutional Trading of 10x Genomics

Several hedge funds and other institutional investors have recently modified their holdings of 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 valued at $35,000 after purchasing an additional 1,265 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of 10x Genomics during the 3rd quarter valued at $35,000. Blue Trust Inc. lifted 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 acquiring an additional 1,025 shares during the period. Sound Income Strategies LLC acquired a new position in shares of 10x Genomics during the 3rd quarter valued at $46,000. Finally, Venturi Wealth Management LLC raised its holdings in 10x Genomics by 1,108.9% during the third quarter. Venturi Wealth Management LLC now owns 2,442 shares of the company's stock worth $55,000 after buying an additional 2,240 shares during the last quarter. Institutional investors own 84.68% of the company's stock.

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.