10x Genomics (NASDAQ:TXG) Price Target Cut to $12.00 by Analysts at JPMorgan Chase & Co.

10x Genomics (NASDAQ:TXG) had its price target lowered by research analysts at JPMorgan Chase & Co. from $14.00 to $12.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 6.58% from the stock’s previous close.

TXG has been the topic of a number of other reports. The Goldman Sachs Group cut their price target on 10x Genomics from $16.00 to $14.00 and set a “sell” rating on the stock in a report on Wednesday, October 30th. Morgan Stanley reduced their target price on shares of 10x Genomics from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Monday, January 13th. UBS Group 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 Thursday. Stifel Nicolaus lowered their target price on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Leerink Partners downgraded shares of 10x Genomics from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $25.00 to $12.00 in a research note on Thursday. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, 10x Genomics presently has an average rating of “Hold” and a consensus price target of $21.07.

10x Genomics Price Performance

Shares of TXG stock traded down $0.74 during mid-day trading on Thursday, hitting $11.26. The stock had a trading volume of 2,338,384 shares, compared to its average volume of 2,325,155. 10x Genomics has a 12-month low of $10.80 and a 12-month high of $51.22. The firm’s 50-day moving average is $14.82 and its two-hundred day moving average is $17.47. The firm has a market capitalization of $1.36 billion, a P/E ratio of -7.38 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.08). 10x Genomics had a negative return on equity of 25.07% and a negative net margin of 28.93%. Analysts expect that 10x Genomics will post -1.43 EPS for the current year.

Institutional Trading of 10x Genomics

Several institutional investors and hedge funds have recently bought and sold shares of TXG. Signaturefd LLC boosted its stake in 10x Genomics by 424.6% during the fourth quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock worth $26,000 after buying an additional 1,452 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of 10x Genomics in the 3rd quarter worth approximately $35,000. GAMMA Investing LLC boosted its position 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 period. Blue Trust Inc. increased its holdings in 10x Genomics by 136.5% in the 3rd quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock valued at $40,000 after purchasing an additional 1,025 shares during the last quarter. Finally, Sound Income Strategies LLC raised its position in 10x Genomics by 65.2% in the fourth quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock valued at $48,000 after purchasing an additional 1,330 shares during the period. 84.68% of the stock is currently owned by hedge funds and other 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.