10x Genomics (NASDAQ:TXG) Trading Up 11.6% – What’s Next?

Shares of 10x Genomics, Inc. (NASDAQ:TXG) were up 11.6% on Friday . The company traded as high as $15.84 and last traded at $15.83. Approximately 1,111,755 shares traded hands during mid-day trading, an increase of 2% from the average daily volume of 1,086,528 shares. The stock had previously closed at $14.19.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TXG. Citigroup decreased their price target on shares of 10x Genomics from $35.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. UBS Group lowered their target price on 10x Genomics from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. The Goldman Sachs Group cut their price target on 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a report on Wednesday, October 30th. Canaccord Genuity Group lowered their price objective on shares of 10x Genomics from $32.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. cut their target price on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $25.14.

10x Genomics Stock Up 11.6 %

The business has a fifty day moving average of $15.11 and a 200 day moving average of $18.27. The firm has a market cap of $1.92 billion, a P/E ratio of -10.35 and a beta of 1.84.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.04. The company had revenue of $151.65 million during 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%. The firm’s revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.51) EPS. On average, sell-side analysts expect that 10x Genomics, Inc. will post -1.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. KBC Group NV increased its stake in 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 last quarter. Allspring Global Investments Holdings LLC increased its position in shares of 10x Genomics by 134.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,637 shares of the company’s stock valued at $32,000 after acquiring an additional 939 shares during the last quarter. First Horizon Advisors Inc. increased 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 valued at $66,000 after acquiring an additional 1,012 shares during the last quarter. Blue Trust Inc. raised its holdings in 10x Genomics by 136.5% during the third quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock worth $40,000 after acquiring an additional 1,025 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in 10x Genomics by 451.8% during the third 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. 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.