UBS Group Cuts 10x Genomics (NASDAQ:TXG) Price Target to $14.00

10x Genomics (NASDAQ:TXG) had its target price cut by stock analysts at UBS Group from $20.00 to $14.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price objective would suggest a potential upside of 19.44% from the stock’s previous close.

Several other equities analysts also recently issued reports on TXG. Barclays dropped their price target on shares of 10x Genomics from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday. JPMorgan Chase & Co. dropped their price target on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. The Goldman Sachs Group dropped their price target on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a research note on Wednesday, October 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a research note on Saturday, February 1st. Finally, Citigroup dropped their target price 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $21.21.

10x Genomics Trading Down 2.3 %

NASDAQ:TXG traded down $0.28 on Thursday, hitting $11.72. The company had a trading volume of 1,314,605 shares, compared to its average volume of 2,286,820. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of -7.68 and a beta of 1.85. The firm has a 50 day moving average of $14.82 and a two-hundred day moving average of $17.47. 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 net margin of 28.93% and a negative return on equity of 25.07%. As a group, equities analysts forecast that 10x Genomics will post -1.43 EPS for the current year.

Institutional Investors Weigh In On 10x Genomics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC increased its stake in 10x Genomics by 0.6% in the fourth quarter. FMR LLC now owns 13,454,434 shares of the company’s stock valued at $193,206,000 after purchasing an additional 86,455 shares in the last quarter. ARK Investment Management LLC increased its stake in 10x Genomics by 11.1% in the fourth quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock valued at $171,517,000 after purchasing an additional 1,193,712 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of 10x Genomics by 3.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,373,212 shares of the company’s stock worth $143,907,000 after acquiring an additional 230,145 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of 10x Genomics during the fourth quarter worth about $26,308,000. Finally, Geode Capital Management LLC increased its position in shares of 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 acquiring an additional 42,777 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

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.