10x Genomics (NASDAQ:TXG) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of 10x Genomics (NASDAQ:TXG - Free Report) from a hold rating to a buy rating in a report issued on Thursday morning.

Other equities research analysts have also issued reports about the company. Stifel Nicolaus lowered their price objective on 10x Genomics from $21.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Stephens reaffirmed an "overweight" rating and issued a $14.00 price objective on shares of 10x Genomics in a research note on Thursday, May 15th. Leerink Partnrs lowered 10x Genomics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 13th. The Goldman Sachs Group lowered their price objective on 10x Genomics from $7.50 to $6.50 and set a "sell" rating for the company in a research note on Monday, May 12th. Finally, Citigroup lowered their price objective on 10x Genomics from $20.00 to $15.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $15.81.

10x Genomics Stock Performance

Shares of NASDAQ:TXG traded up $0.41 during midday trading on Thursday, reaching $8.58. 1,012,570 shares of the company's stock traded hands, compared to its average volume of 2,384,687. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -5.65 and a beta of 1.94. 10x Genomics has a one year low of $6.78 and a one year high of $24.76. The stock has a 50 day moving average of $8.54 and a 200 day moving average of $11.97.

10x Genomics (NASDAQ:TXG - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.36) earnings per share for the quarter, beating analysts' consensus estimates of ($0.45) by $0.09. 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. The company had revenue of $154.88 million for the quarter, compared to the consensus estimate of $131.91 million. During the same quarter in the prior year, the company earned ($0.50) earnings per share. 10x Genomics's revenue was down 2.3% on a year-over-year basis. Sell-side analysts predict that 10x Genomics will post -1.43 EPS for the current fiscal year.

Institutional Investors Weigh In On 10x Genomics

Institutional investors and hedge funds have recently bought and sold shares of the company. Signaturefd LLC raised its position in 10x Genomics by 424.6% during the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company's stock valued at $26,000 after purchasing an additional 1,452 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of 10x Genomics in the 4th quarter valued at $32,000. Blue Trust Inc. increased its holdings in shares of 10x Genomics by 73.1% in the 4th quarter. Blue Trust Inc. now owns 3,075 shares of the company's stock valued at $44,000 after acquiring an additional 1,299 shares during the period. Sound Income Strategies LLC increased its holdings in shares of 10x Genomics by 65.2% in the 4th quarter. Sound Income Strategies LLC now owns 3,370 shares of the company's stock valued at $48,000 after acquiring an additional 1,330 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of 10x Genomics in the 4th quarter valued at $52,000. 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.