UBS Group Has Lowered Expectations for 10x Genomics (NASDAQ:TXG) Stock Price

10x Genomics (NASDAQ:TXG) had its target price lowered by UBS Group from $20.00 to $14.00 in a report released on Thursday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research analysts have also commented on TXG. JPMorgan Chase & Co. lowered their price objective on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. 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. The Goldman Sachs Group dropped their price objective on 10x Genomics from $16.00 to $14.00 and set a “sell” rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley decreased their target price on 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, Leerink Partners lowered 10x Genomics from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $25.00 to $12.00 in a report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.71.

10x Genomics Price Performance

TXG stock opened at $11.94 on Thursday. The firm has a 50 day moving average of $14.75 and a two-hundred day moving average of $17.43. 10x Genomics has a 12 month low of $10.80 and a 12 month high of $51.22.

10x Genomics (NASDAQ:TXG) last released 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 net margin of 28.93% and a negative return on equity of 25.07%. Research analysts anticipate that 10x Genomics will post -1.43 EPS for the current year.

Institutional Investors Weigh In On 10x Genomics

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in shares of 10x Genomics by 451.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock worth $35,000 after acquiring an additional 1,265 shares during the period. CWM LLC raised its position in 10x Genomics by 444.5% in the third quarter. CWM LLC now owns 22,810 shares of the company’s stock worth $515,000 after purchasing an additional 18,621 shares in the last quarter. Creative Planning bought a new position in 10x Genomics during the third quarter worth about $214,000. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in 10x Genomics by 82.6% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 20,232 shares of the company’s stock valued at $457,000 after purchasing an additional 9,151 shares in the last quarter. Finally, Blue Trust Inc. grew its stake 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 valued at $40,000 after purchasing an additional 1,025 shares during the period. 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.