10x Genomics (NASDAQ:TXG) Downgraded by Leerink Partners to Market Perform

Leerink Partners cut shares of 10x Genomics (NASDAQ:TXG) from an outperform rating to a market perform rating in a research note released on Thursday, MarketBeat.com reports. The firm currently has $12.00 price target on the stock, down from their previous price target of $25.00.

A number of other analysts have also weighed in on the company. Morgan Stanley reduced their target price on 10x Genomics from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. The Goldman Sachs Group reduced their target price on 10x Genomics from $16.00 to $14.00 and set a “sell” rating on the stock in a research note on Wednesday, October 30th. UBS Group dropped their price target on 10x Genomics from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. JPMorgan Chase & Co. decreased their price objective on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Finally, Barclays decreased their price objective on 10x Genomics from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.71.

10x Genomics Stock Performance

NASDAQ: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 fifty-two week low of $10.80 and a fifty-two 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 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 predict that 10x Genomics will post -1.43 earnings per share for the current year.

Hedge Funds Weigh In On 10x Genomics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its stake in shares of 10x Genomics by 355.0% during the third quarter. JPMorgan Chase & Co. now owns 355,488 shares of the company’s stock worth $8,027,000 after acquiring an additional 277,355 shares during the last quarter. Lecap Asset Management Ltd. acquired a new stake in shares of 10x Genomics during the third quarter worth about $877,000. Geode Capital Management LLC lifted its holdings 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 purchasing an additional 42,777 shares during the period. SG Americas Securities LLC lifted its holdings in shares of 10x Genomics by 209.8% during the fourth quarter. SG Americas Securities LLC now owns 73,046 shares of the company’s stock worth $1,049,000 after purchasing an additional 49,468 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of 10x Genomics during the third quarter worth about $27,778,000. Hedge funds and other institutional investors 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.