10x Genomics (NASDAQ:TXG) Price Target Cut to $26.00 by Analysts at Morgan Stanley

10x Genomics (NASDAQ:TXG) had its price objective reduced by Morgan Stanley from $28.00 to $26.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 117.68% from the stock’s current price.

Other analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a report on Saturday, February 1st. Stifel Nicolaus dropped 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. Leerink Partnrs downgraded shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Thursday. JPMorgan Chase & Co. dropped their price objective on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Canaccord Genuity Group dropped their price objective on shares of 10x Genomics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, 10x Genomics has an average rating of “Hold” and an average price target of $20.57.

10x Genomics Price Performance

TXG opened at $11.94 on Friday. The company has a fifty day moving average price of $14.75 and a 200-day moving average price of $17.43. The firm has a market capitalization of $1.45 billion, a P/E ratio of -7.81 and a beta of 1.85. 10x Genomics has a one year low of $10.80 and a one year high of $51.22.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) 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%. On average, analysts expect that 10x Genomics will post -1.43 earnings per share for the current year.

Hedge Funds Weigh In On 10x Genomics

Several hedge funds and other institutional investors have recently modified their holdings of TXG. GAMMA Investing LLC raised its stake in shares of 10x Genomics by 451.8% during the third quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock valued at $35,000 after acquiring an additional 1,265 shares during the last quarter. CWM LLC raised its stake in shares of 10x Genomics by 444.5% during the third quarter. CWM LLC now owns 22,810 shares of the company’s stock valued at $515,000 after acquiring an additional 18,621 shares during the last quarter. Creative Planning bought a new position in shares of 10x Genomics during the third quarter valued at about $214,000. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in shares of 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 acquiring an additional 9,151 shares during the last quarter. Finally, Blue Trust Inc. raised 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 acquiring an additional 1,025 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

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.