Canaccord Genuity Group Cuts 10x Genomics (NASDAQ:TXG) Price Target to $18.00

10x Genomics (NASDAQ:TXG) had its price target reduced by analysts at Canaccord Genuity Group from $20.00 to $18.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 50.75% from the company’s current price.

A number of other research firms have also recently weighed in on TXG. JPMorgan Chase & Co. lowered their price target on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday. Barclays lowered their target price on shares of 10x Genomics from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a research report on Saturday, February 1st. Citigroup dropped their target price on 10x Genomics from $23.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Stifel Nicolaus lowered their price target on 10x Genomics from $21.00 to $18.00 and set a “buy” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.71.

10x Genomics Trading Down 0.5 %

Shares of TXG traded down $0.06 during mid-day trading on Thursday, hitting $11.94. The company’s stock had a trading volume of 5,937,482 shares, compared to its average volume of 2,453,139. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -7.80 and a beta of 1.85. The company’s 50-day moving average is $14.82 and its 200-day moving average is $17.47. 10x Genomics has a 52-week low of $10.80 and a 52-week high of $51.22.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, sell-side analysts predict that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. KBC Group NV grew 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. grew its holdings in 10x Genomics by 9.6% during the fourth quarter. Atria Wealth Solutions Inc. now owns 10,788 shares of the company’s stock worth $155,000 after acquiring an additional 943 shares during the period. First Horizon Advisors Inc. raised its position in 10x Genomics by 53.3% during 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 in the last quarter. Blue Trust Inc. lifted its holdings in 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 acquiring an additional 1,025 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in 10x Genomics by 451.8% in the third quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock valued at $35,000 after acquiring an additional 1,265 shares during the period. Hedge funds and other institutional investors 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.