10x Genomics (NASDAQ:TXG) Rating Lowered to “Market Perform” at Leerink Partners

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

Several other equities analysts have also recently issued reports on TXG. UBS Group reduced their target price on 10x Genomics from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Barclays reduced their price objective on shares of 10x Genomics from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Monday. Citigroup dropped their target price on shares of 10x Genomics from $35.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. JPMorgan Chase & Co. cut their target price on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of 10x Genomics in a research note on Saturday, February 1st. 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 given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.14.

10x Genomics Stock Up 1.5 %

Shares of 10x Genomics stock opened at $12.00 on Thursday. The company’s fifty day simple moving average is $14.82 and its two-hundred day simple moving average is $17.47. 10x Genomics has a 12-month low of $11.55 and a 12-month high of $51.22. The firm has a market cap of $1.45 billion, a PE ratio of -7.84 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last posted 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%. As a group, sell-side analysts expect that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On 10x Genomics

A number of institutional investors have recently modified their holdings of TXG. KBC Group NV boosted its stake in 10x Genomics by 38.8% in the 3rd quarter. KBC Group NV now owns 3,225 shares of the company’s stock worth $73,000 after purchasing an additional 902 shares in the last quarter. Atria Wealth Solutions Inc. raised its holdings in 10x Genomics by 9.6% in the fourth quarter. Atria Wealth Solutions Inc. now owns 10,788 shares of the company’s stock worth $155,000 after buying an additional 943 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in 10x Genomics by 53.3% in the third quarter. First Horizon Advisors Inc. now owns 2,910 shares of the company’s stock worth $66,000 after buying an additional 1,012 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of 10x Genomics by 136.5% in the third quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock worth $40,000 after buying an additional 1,025 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of 10x Genomics by 451.8% during the third quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock valued at $35,000 after buying an additional 1,265 shares during the last quarter. 84.68% of the stock is 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.