10x Genomics (NASDAQ:TXG) Trading 11.6% Higher – Should You Buy?

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on TXG shares. Citigroup decreased their target price on 10x Genomics from $35.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Canaccord Genuity Group decreased their price objective on shares of 10x Genomics from $32.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Barclays lowered their target price on shares of 10x Genomics from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. The Goldman Sachs Group reduced 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 report on Wednesday, October 30th. Finally, Stephens restated an “overweight” rating and issued a $30.00 price objective on shares of 10x Genomics in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.14.

10x Genomics Trading Up 9.9 %

The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -10.20 and a beta of 1.84. The stock’s 50 day moving average price is $15.12 and its 200 day moving average price is $18.23.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Lecap Asset Management Ltd. bought a new stake in shares of 10x Genomics in the 3rd quarter valued at about $877,000. Geode Capital Management LLC increased its position in 10x Genomics by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company’s stock worth $41,009,000 after buying an additional 42,777 shares during the last quarter. Marshall Wace LLP bought a new stake in 10x Genomics in the second quarter valued at approximately $689,000. Point72 Asset Management L.P. acquired a new stake in shares of 10x Genomics in the third quarter valued at approximately $27,778,000. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of 10x Genomics by 10,124.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 44,785 shares of the company’s stock worth $871,000 after acquiring an additional 44,347 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.