10x Genomics (NASDAQ:TXG) Price Target Cut to $12.00 by Analysts at JPMorgan Chase & Co.

10x Genomics (NASDAQ:TXG) had its target price decreased by stock analysts at JPMorgan Chase & Co. from $14.00 to $12.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 6.58% from the stock’s previous close.

Several other brokerages have also recently issued reports on TXG. Barclays reduced their price objective on 10x Genomics from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday. Stifel Nicolaus cut their price objective on 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday. 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. UBS Group lowered their price objective on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Citigroup dropped their price objective on 10x Genomics from $35.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, 10x Genomics currently has a consensus rating of “Hold” and an average price target of $21.07.

10x Genomics Price Performance

Shares of TXG stock traded down $0.74 during midday trading on Thursday, reaching $11.26. 2,338,384 shares of the company traded hands, compared to its average volume of 2,325,155. 10x Genomics has a 1-year low of $10.80 and a 1-year high of $51.22. The firm’s 50 day simple moving average is $14.82 and its two-hundred day simple moving average is $17.47. The firm has a market cap of $1.36 billion, a PE ratio of -7.38 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last posted its 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, research analysts anticipate that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Institutional Trading of 10x Genomics

Large investors have recently made changes to their positions in the business. KBC Group NV lifted 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 buying an additional 902 shares in the last quarter. Atria Wealth Solutions Inc. raised its stake in shares of 10x Genomics by 9.6% in 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 last quarter. First Horizon Advisors Inc. lifted its position in shares of 10x Genomics by 53.3% during the third 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. grew its stake in shares of 10x Genomics by 136.5% during the third quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock valued at $40,000 after purchasing an additional 1,025 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings 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 valued at $35,000 after purchasing an additional 1,265 shares in the last quarter. 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.