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

10x Genomics (NASDAQ:TXG) had its price target cut by UBS Group from $20.00 to $14.00 in a report issued on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Leerink Partners cut 10x Genomics from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $25.00 to $12.00 in a report on Thursday. JPMorgan Chase & Co. dropped their price objective on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley decreased their target price on 10x Genomics from $30.00 to $28.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Barclays lowered their target price on 10x Genomics from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday. Finally, The Goldman Sachs Group cut their target price 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, 10x Genomics has an average rating of “Hold” and a consensus price target of $20.71.

10x Genomics Price Performance

Shares of TXG opened at $11.94 on Thursday. The stock’s fifty day moving average is $14.75 and its 200-day moving average is $17.43. 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 earnings results on Wednesday, February 12th. The company reported ($0.40) 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%. Research analysts anticipate that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On 10x Genomics

Large investors have recently made changes to their positions in the business. FMR LLC boosted its holdings in shares of 10x Genomics by 0.6% during the fourth quarter. FMR LLC now owns 13,454,434 shares of the company’s stock worth $193,206,000 after purchasing an additional 86,455 shares during the period. ARK Investment Management LLC lifted its position in 10x Genomics by 11.1% in the 4th quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock worth $171,517,000 after buying an additional 1,193,712 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of 10x Genomics by 3.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,373,212 shares of the company’s stock valued at $143,907,000 after buying an additional 230,145 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of 10x Genomics during the 4th quarter valued at $26,308,000. Finally, Geode Capital Management LLC grew its holdings in shares of 10x Genomics by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company’s stock valued at $41,009,000 after acquiring an additional 42,777 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.