10x Genomics (NASDAQ:TXG) Trading Up 4.3% - Should You Buy?

Shares of 10x Genomics, Inc. (NASDAQ:TXG - Get Free Report) shot up 4.3% during trading on Monday . The stock traded as high as $14.67 and last traded at $14.65. 898,547 shares changed hands during trading, a decline of 49% from the average session volume of 1,746,921 shares. The stock had previously closed at $14.04.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TXG. Barclays reduced their target price on 10x Genomics from $21.00 to $19.00 and set an "overweight" rating for the company in a report on Friday, November 1st. UBS Group cut their price target on shares of 10x Genomics from $25.00 to $20.00 and set a "neutral" rating on the stock in a report on Wednesday, October 30th. Stephens reaffirmed an "overweight" rating and issued a $30.00 price objective on shares of 10x Genomics in a research note on Thursday, October 10th. Leerink Partners initiated coverage on shares of 10x Genomics in a research note on Tuesday, September 3rd. They set an "outperform" rating and a $35.00 target price on the stock. Finally, The Goldman Sachs Group decreased their target price on 10x Genomics from $16.00 to $14.00 and set a "sell" rating for the company in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.14.

10x Genomics Stock Up 4.9 %

The company's 50-day simple moving average is $15.29 and its 200 day simple moving average is $18.66. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of -9.63 and a beta of 1.84.

10x Genomics (NASDAQ:TXG - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.04. 10x Genomics had a negative return on equity of 25.07% and a negative net margin of 28.93%. The company had revenue of $151.65 million for the quarter, compared to the consensus estimate of $158.84 million. During the same quarter last year, the company posted ($0.51) earnings per share. The company's revenue for the quarter was down 1.3% compared to the same quarter last year. On average, equities analysts expect that 10x Genomics, Inc. will post -1.4 earnings per share for the current fiscal year.

Institutional Trading of 10x Genomics

A number of institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC grew its stake in shares of 10x Genomics by 2.7% in the 3rd quarter. FMR LLC now owns 13,367,979 shares of the company's stock valued at $301,849,000 after purchasing an additional 357,470 shares during the period. ARK Investment Management LLC raised its stake in 10x Genomics by 15.4% during the third quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company's stock worth $242,743,000 after acquiring an additional 1,436,582 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of 10x Genomics by 3.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,373,212 shares of the company's stock valued at $143,907,000 after acquiring an additional 230,145 shares during the period. Geode Capital Management LLC boosted its stake in shares of 10x Genomics by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company's stock valued at $41,009,000 after purchasing an additional 42,777 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of 10x Genomics by 7.1% in the 3rd quarter. State Street Corp now owns 1,750,643 shares of the company's stock valued at $39,530,000 after purchasing an additional 116,534 shares in the last quarter. 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.