10x Genomics (NASDAQ:TXG) Price Target Lowered to $20.00 at Citigroup

10x Genomics (NASDAQ:TXG) had its price objective decreased by stock analysts at Citigroup from $23.00 to $20.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 76.76% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Leerink Partners cut shares of 10x Genomics from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $25.00 to $12.00 in a research note on Thursday. The Goldman Sachs Group dropped their target price on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a report on Wednesday, October 30th. Barclays dropped their target price on shares of 10x Genomics from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Monday. JPMorgan Chase & Co. dropped their target price on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Morgan Stanley dropped their target price on shares of 10x Genomics from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, 10x Genomics currently has an average rating of “Hold” and a consensus target price of $20.86.

10x Genomics Trading Down 5.7 %

Shares of NASDAQ TXG traded down $0.69 during mid-day trading on Thursday, reaching $11.32. The company had a trading volume of 3,501,745 shares, compared to its average volume of 2,366,092. 10x Genomics has a 52-week low of $10.80 and a 52-week high of $51.22. The stock has a market cap of $1.37 billion, a P/E ratio of -7.39 and a beta of 1.85. The firm has a 50 day simple moving average of $14.82 and a two-hundred day simple moving average of $17.47.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.08). 10x Genomics had a negative return on equity of 25.07% and a negative net margin of 28.93%. On average, equities analysts expect that 10x Genomics will post -1.43 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TXG. KBC Group NV boosted its holdings in shares of 10x Genomics by 38.8% in the 3rd quarter. KBC Group NV now owns 3,225 shares of the company’s stock valued at $73,000 after buying an additional 902 shares during the period. Atria Wealth Solutions Inc. raised its position in shares of 10x Genomics by 9.6% during the 4th quarter. Atria Wealth Solutions Inc. now owns 10,788 shares of the company’s stock worth $155,000 after buying an additional 943 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of 10x Genomics by 53.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,910 shares of the company’s stock worth $66,000 after purchasing an additional 1,012 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of 10x Genomics by 136.5% in the 3rd quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock worth $40,000 after purchasing an additional 1,025 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of 10x Genomics by 451.8% in the third quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock worth $35,000 after acquiring an additional 1,265 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.