Barclays Cuts 10x Genomics (NASDAQ:TXG) Price Target to $18.00

10x Genomics (NASDAQ:TXG - Free Report) had its target price reduced by Barclays from $19.00 to $18.00 in a research note published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms have also recently issued reports on TXG. JPMorgan Chase & Co. reduced their price objective on 10x Genomics from $20.00 to $14.00 and set a "neutral" rating for the company in a research report on Wednesday, October 30th. The Goldman Sachs Group lowered their price target on 10x Genomics from $16.00 to $14.00 and set a "sell" rating for the company in a research note on Wednesday, October 30th. UBS Group cut their price objective on shares of 10x Genomics from $25.00 to $20.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 30th. Morgan Stanley reduced their target price on shares of 10x Genomics from $30.00 to $28.00 and set an "overweight" rating for the company in a research note on Monday, January 13th. Finally, Citigroup dropped their price target on shares of 10x Genomics from $35.00 to $23.00 and set a "buy" rating on the stock in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, 10x Genomics has an average rating of "Hold" and a consensus target price of $20.86.

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10x Genomics Stock Down 1.9 %

Shares of TXG traded down $0.23 during mid-day trading on Monday, reaching $11.77. The company's stock had a trading volume of 4,465,673 shares, compared to its average volume of 2,395,150. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -7.82 and a beta of 1.85. The business has a fifty day moving average of $14.82 and a 200 day moving average of $17.47. 10x Genomics has a 1 year low of $10.80 and a 1 year high of $51.22.

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%. On average, analysts predict that 10x Genomics will post -1.43 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake in shares of 10x Genomics by 355.0% in the third quarter. JPMorgan Chase & Co. now owns 355,488 shares of the company's stock valued at $8,027,000 after buying an additional 277,355 shares during the period. Lecap Asset Management Ltd. acquired a new position in 10x Genomics in the 3rd quarter valued at approximately $877,000. Geode Capital Management LLC lifted its position 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 worth $41,009,000 after acquiring an additional 42,777 shares during the period. SG Americas Securities LLC lifted its position in shares of 10x Genomics by 209.8% in the 4th quarter. SG Americas Securities LLC now owns 73,046 shares of the company's stock worth $1,049,000 after acquiring an additional 49,468 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of 10x Genomics during the 3rd quarter worth approximately $27,778,000. 84.68% of the stock is 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.