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

10x Genomics (NASDAQ:TXG) had its price objective cut by equities researchers at Morgan Stanley from $28.00 to $26.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 117.68% from the company’s previous close.

A number of other analysts also recently weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of 10x Genomics in a report on Saturday, February 1st. Leerink Partners downgraded 10x Genomics from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $25.00 to $12.00 in a report on Thursday. UBS Group decreased their price target on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday. Stifel Nicolaus decreased their price target on 10x Genomics from $21.00 to $18.00 and set a “buy” rating for the company in a report on Thursday. Finally, Barclays decreased their price target on 10x Genomics from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $20.57.

10x Genomics Stock Performance

NASDAQ:TXG opened at $11.94 on Friday. The company has a market cap of $1.45 billion, a P/E ratio of -7.81 and a beta of 1.85. 10x Genomics has a 52-week low of $10.80 and a 52-week high of $51.22. The stock’s 50-day simple moving average is $14.75 and its 200 day simple moving average is $17.43.

10x Genomics (NASDAQ:TXG) last posted 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, equities analysts predict that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On 10x Genomics

Several large investors have recently added to or reduced their stakes in TXG. Signaturefd LLC lifted its position in 10x Genomics by 424.6% in the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock valued at $26,000 after acquiring an additional 1,452 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of 10x Genomics during the 3rd quarter worth approximately $35,000. GAMMA Investing LLC increased its stake in shares of 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. increased its stake 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 worth $40,000 after purchasing an additional 1,025 shares during the last quarter. Finally, Sound Income Strategies LLC increased its stake in shares of 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. 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.