10x Genomics (NASDAQ:TXG) Shares Up 4.3% – Still a Buy?

10x Genomics, Inc. (NASDAQ:TXG)’s share price was up 4.3% on Monday . The company traded as high as $14.67 and last traded at $14.65. Approximately 898,547 shares were traded during trading, a decline of 49% from the average daily volume of 1,746,921 shares. The stock had previously closed at $14.04.

Analysts Set New Price Targets

Several equities analysts recently commented on TXG shares. UBS Group dropped their target price on 10x Genomics from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. JPMorgan Chase & Co. cut their price objective on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Citigroup lowered their target price 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 cut their price target on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating on the stock in a research note on Wednesday, October 30th. Finally, Stephens reiterated an “overweight” rating and issued a $30.00 price target on shares of 10x Genomics in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.14.

10x Genomics Stock Down 0.4 %

The stock has a market capitalization of $1.78 billion, a PE ratio of -9.59 and a beta of 1.84. The stock’s 50-day moving average is $15.23 and its 200 day moving average is $18.56.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.04. 10x Genomics had a negative return on equity of 25.07% and a negative net margin of 28.93%. The company had revenue of $151.65 million during the quarter, compared to the consensus estimate of $158.84 million. During the same period last year, the business earned ($0.51) EPS. The business’s quarterly revenue was down 1.3% on a year-over-year basis. As a group, equities research analysts forecast that 10x Genomics, Inc. will post -1.4 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in 10x Genomics by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company’s stock valued at $41,009,000 after purchasing an additional 42,777 shares during the period. M&T Bank Corp bought a new stake in shares of 10x Genomics in the third quarter valued at approximately $203,000. Barclays PLC grew its stake in shares of 10x Genomics by 11.7% in the third quarter. Barclays PLC now owns 602,536 shares of the company’s stock worth $13,605,000 after acquiring an additional 63,079 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in 10x Genomics during the third quarter worth $402,000. Finally, XTX Topco Ltd increased its position in 10x Genomics by 241.9% during the third quarter. XTX Topco Ltd now owns 45,008 shares of the company’s stock worth $1,016,000 after acquiring an additional 31,844 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.