10x Genomics (NASDAQ:TXG) Stock Price Up 8.3% – Should You Buy?

10x Genomics, Inc. (NASDAQ:TXG) shares traded up 8.3% on Friday . The stock traded as high as $13.07 and last traded at $12.93. Approximately 1,251,023 shares changed hands during trading, a decline of 48% from the average daily volume of 2,408,836 shares. The stock had previously closed at $11.94.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TXG. Weiss Ratings restated a “sell (e+)” rating on shares of 10x Genomics in a research report on Saturday, February 1st. Leerink Partners lowered 10x Genomics from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $25.00 to $12.00 in a report on Thursday. JPMorgan Chase & Co. cut their price target on 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday. Stifel Nicolaus lowered their price objective on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Citigroup cut their price objective on shares of 10x Genomics from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.57.

10x Genomics Stock Up 3.1 %

The business has a fifty day moving average of $14.68 and a two-hundred day moving average of $17.35.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results 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%. Analysts expect that 10x Genomics, Inc. will post -1.43 earnings per share for the current year.

Institutional Trading of 10x Genomics

Several institutional investors and hedge funds have recently modified their holdings of TXG. RA Capital Management L.P. acquired a new stake in 10x Genomics during the 4th quarter valued at $47,092,000. Assenagon Asset Management S.A. purchased a new stake in shares of 10x Genomics in the fourth quarter valued at $26,308,000. ARK Investment Management LLC boosted its stake in shares of 10x Genomics by 15.4% during the third quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company’s stock valued at $242,743,000 after acquiring an additional 1,436,582 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in 10x Genomics during the 3rd quarter worth about $27,778,000. Finally, SVB Wealth LLC acquired a new position in 10x Genomics in the 4th quarter valued at about $7,505,000. 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.