10x Genomics (NASDAQ:TXG) Stock Rating Lowered by Leerink Partners

10x Genomics (NASDAQ:TXG) was downgraded by equities researchers at Leerink Partners from an “outperform” rating to a “market perform” rating in a research note issued to investors on Thursday, MarketBeat reports. They currently have a $12.00 price objective on the stock, down from their previous price objective of $25.00. Leerink Partners’ price target points to a potential downside of 2.52% from the company’s previous close.

Other research analysts have also recently issued reports about the company. The Goldman Sachs Group reduced their price target on 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a research report on Wednesday, October 30th. Citigroup reduced their price target on 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 price objective on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. UBS Group cut their price objective on 10x Genomics from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Finally, Barclays cut their price objective on 10x Genomics from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, 10x Genomics presently has a consensus rating of “Hold” and a consensus price target of $20.57.

10x Genomics Stock Performance

NASDAQ:TXG opened at $12.31 on Thursday. The company has a market cap of $1.49 billion, a PE ratio of -8.05 and a beta of 1.85. 10x Genomics has a 52-week low of $10.80 and a 52-week high of $51.22. The stock has a 50-day simple moving average of $14.68 and a 200 day simple moving average of $17.37.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) EPS 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%. On average, research analysts predict that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On 10x Genomics

A number of hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV increased its stake in 10x Genomics by 38.8% during the 3rd quarter. KBC Group NV now owns 3,225 shares of the company’s stock worth $73,000 after acquiring an additional 902 shares during the period. Atria Wealth Solutions Inc. increased its stake in shares of 10x Genomics by 9.6% in the 4th quarter. Atria Wealth Solutions Inc. now owns 10,788 shares of the company’s stock valued at $155,000 after purchasing an additional 943 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of 10x Genomics by 53.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,910 shares of the company’s stock valued at $66,000 after purchasing an additional 1,012 shares during the last quarter. Blue Trust Inc. increased its stake in shares of 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, GAMMA Investing LLC increased its stake in shares of 10x Genomics by 451.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock valued at $35,000 after purchasing an additional 1,265 shares during the last quarter. 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.