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

10x Genomics (NASDAQ:TXG) was downgraded by analysts at Leerink Partners from an “outperform” rating to a “market perform” rating in a report released on Thursday,Briefing.com Automated Import reports. They currently have a $12.00 price objective on the stock, down from their previous price objective of $25.00.

TXG has been the subject of several other research reports. Citigroup cut their price objective on 10x Genomics from $35.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. cut their price target on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. UBS Group lowered their price objective on shares of 10x Genomics from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley dropped their price objective on shares of 10x Genomics from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a report on Saturday, February 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $22.14.

10x Genomics Stock Performance

TXG opened at $12.00 on Thursday. The company’s 50-day simple moving average is $14.82 and its two-hundred day simple moving average is $17.47. The stock has a market capitalization of $1.45 billion, a P/E ratio of -7.84 and a beta of 1.85. 10x Genomics has a 52-week low of $11.55 and a 52-week high of $51.22.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data 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%. Research analysts forecast that 10x Genomics will post -1.43 EPS for the current fiscal year.

Institutional Investors Weigh In On 10x Genomics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Signaturefd LLC grew its position in shares of 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 purchasing an additional 1,452 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in 10x Genomics in the 3rd quarter worth approximately $35,000. GAMMA Investing LLC boosted its stake in 10x Genomics by 451.8% in 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. grew its holdings in 10x Genomics by 136.5% during the 3rd quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock valued at $40,000 after buying an additional 1,025 shares in the last quarter. Finally, Sound Income Strategies LLC raised its position in shares of 10x Genomics by 65.2% during the fourth quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock valued at $48,000 after buying an additional 1,330 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

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.