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

10x Genomics (NASDAQ:TXG) was downgraded by stock analysts at Leerink Partners from an “outperform” rating to a “market perform” rating in a research note issued on Thursday, MarketBeat.com 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 would indicate a potential downside of 2.52% from the stock’s previous close.

A number of other equities analysts have also issued reports on TXG. Morgan Stanley cut their target price on 10x Genomics from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. UBS Group dropped their target price 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. Citigroup dropped their target price on 10x Genomics from $35.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Barclays lowered their price target on 10x Genomics from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Finally, The Goldman Sachs Group lowered their target price on 10x Genomics from $16.00 to $14.00 and set a “sell” rating on the stock in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.57.

10x Genomics Trading Up 3.1 %

Shares of TXG stock opened at $12.31 on Thursday. The firm has a 50-day moving average price of $14.68 and a 200 day moving average price of $17.37. 10x Genomics has a twelve month low of $10.80 and a twelve month high of $51.22. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -8.05 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 analysts’ consensus estimates 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, research analysts predict that 10x Genomics will post -1.43 earnings per share for the current year.

Hedge Funds Weigh In On 10x Genomics

A number of institutional investors and hedge funds have recently bought and sold shares of TXG. FMR LLC increased its holdings in 10x Genomics by 0.6% in the fourth quarter. FMR LLC now owns 13,454,434 shares of the company’s stock valued at $193,206,000 after purchasing an additional 86,455 shares during the last quarter. ARK Investment Management LLC increased its holdings in shares of 10x Genomics by 11.1% in the fourth quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock worth $171,517,000 after acquiring an additional 1,193,712 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of 10x Genomics by 3.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,373,212 shares of the company’s stock worth $143,907,000 after acquiring an additional 230,145 shares in the last quarter. RA Capital Management L.P. bought a new stake in shares of 10x Genomics in the fourth quarter worth about $47,092,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of 10x Genomics during the fourth quarter worth about $26,308,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.