10x Genomics (NASDAQ:TXG) Price Target Cut to $12.00 by Analysts at JPMorgan Chase & Co.

10x Genomics (NASDAQ:TXG) had its price objective lowered by JPMorgan Chase & Co. from $14.00 to $12.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other research analysts have also issued reports about the company. Barclays reduced their target price on 10x Genomics from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Monday. Citigroup cut their price objective on shares of 10x Genomics from $35.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. UBS Group lowered their target price on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday. Weiss Ratings reissued a “sell (e+)” rating on shares of 10x Genomics in a research report on Saturday, February 1st. Finally, Morgan Stanley decreased 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. One 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $20.71.

10x Genomics Stock Down 0.5 %

Shares of 10x Genomics stock opened at $11.94 on Thursday. The firm’s 50 day moving average price is $14.75 and its 200-day moving average price is $17.43. 10x Genomics has a 52-week low of $10.80 and a 52-week high of $51.22.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings results 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 return on equity of 25.07% and a negative net margin of 28.93%. On average, equities research analysts forecast that 10x Genomics will post -1.43 EPS for the current fiscal year.

Hedge Funds Weigh In On 10x Genomics

Institutional investors have recently modified their holdings of the stock. KBC Group NV raised its holdings in 10x Genomics by 38.8% in the 3rd quarter. KBC Group NV now owns 3,225 shares of the company’s stock worth $73,000 after purchasing an additional 902 shares during the period. Atria Wealth Solutions Inc. increased its position in shares of 10x Genomics by 9.6% in the fourth quarter. Atria Wealth Solutions Inc. now owns 10,788 shares of the company’s stock valued at $155,000 after buying an additional 943 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of 10x Genomics by 53.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 2,910 shares of the company’s stock worth $66,000 after buying an additional 1,012 shares during the period. Blue Trust Inc. lifted its position in shares of 10x Genomics by 136.5% during the 3rd quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock valued at $40,000 after buying an additional 1,025 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in 10x Genomics by 451.8% in the 3rd 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 period. 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.