10x Genomics (NASDAQ:TXG) Shares Up 8.3% - Still a Buy?

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TXG shares. UBS Group decreased their price objective on 10x Genomics from $20.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Canaccord Genuity Group decreased their price target on shares of 10x Genomics from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Leerink Partners lowered shares of 10x Genomics from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $25.00 to $12.00 in a research report on Thursday, February 13th. Stifel Nicolaus decreased their target price on shares of 10x Genomics from $21.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Finally, Leerink Partnrs downgraded 10x Genomics from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, 10x Genomics presently has an average rating of "Hold" and a consensus price target of $20.57.

10x Genomics Price Performance

The stock has a market cap of $1.46 billion, a PE ratio of -7.89 and a beta of 1.85. The stock has a 50-day simple moving average of $14.52 and a 200-day simple moving average of $17.22.

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 for the quarter, missing the consensus estimate 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, equities research analysts anticipate that 10x Genomics, Inc. will post -1.43 EPS for the current year.

Institutional Investors Weigh In On 10x Genomics

Several large investors have recently made changes to their positions in TXG. KBC Group NV boosted its position in 10x Genomics by 38.8% during the 3rd quarter. KBC Group NV now owns 3,225 shares of the company's stock worth $73,000 after purchasing an additional 902 shares during the period. Atria Wealth Solutions Inc. boosted its position in shares of 10x Genomics by 9.6% in the fourth quarter. Atria Wealth Solutions Inc. now owns 10,788 shares of the company's stock worth $155,000 after buying an additional 943 shares during the period. First Horizon Advisors Inc. boosted its position in shares of 10x Genomics by 53.3% in the third quarter. First Horizon Advisors Inc. now owns 2,910 shares of the company's stock worth $66,000 after buying an additional 1,012 shares during the period. Blue Trust Inc. grew its stake in shares of 10x Genomics by 136.5% in the third quarter. Blue Trust Inc. now owns 1,776 shares of the company's stock valued at $40,000 after buying an additional 1,025 shares in the last quarter. Finally, Sound Income Strategies LLC raised its holdings in shares of 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 buying an additional 1,330 shares during the period. Institutional investors and hedge funds 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.