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

10x Genomics (NASDAQ:TXG) had its target price decreased by Citigroup from $23.00 to $20.00 in a research note issued to investors on Thursday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on TXG. Stifel Nicolaus decreased their price objective on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating for the company in a report on Thursday. Barclays decreased their price objective on shares of 10x Genomics from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Monday, February 10th. The Goldman Sachs Group reduced their price target on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a report on Wednesday, October 30th. Morgan Stanley reduced their price target on shares of 10x Genomics from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of 10x Genomics in a report on Saturday, February 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $20.57.

10x Genomics Trading Up 3.1 %

10x Genomics stock opened at $12.31 on Thursday. 10x Genomics has a 12-month low of $10.80 and a 12-month high of $51.22. The firm has a 50-day moving average price of $14.68 and a 200-day moving average price of $17.35. The firm has a market capitalization of $1.49 billion, a PE ratio of -8.05 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.40) earnings per share 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 Trading of 10x Genomics

Large investors have recently bought and sold shares of the stock. Signaturefd LLC grew its position in 10x Genomics by 424.6% during the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock worth $26,000 after purchasing an additional 1,452 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in 10x Genomics during the 3rd quarter worth approximately $35,000. GAMMA Investing LLC grew its position in 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 purchasing an additional 1,265 shares during the last quarter. Blue Trust Inc. grew its position in 10x Genomics by 136.5% during the 3rd quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock worth $40,000 after purchasing an additional 1,025 shares during the last quarter. Finally, Sound Income Strategies LLC grew its position in 10x Genomics by 65.2% during the 4th quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock worth $48,000 after purchasing an additional 1,330 shares during the last quarter. 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.