JPMorgan Chase & Co. Issues Pessimistic Forecast for 10x Genomics (NASDAQ:TXG) Stock Price

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 note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 2.52% from the company’s previous close.

Several other brokerages also recently commented on TXG. Stifel Nicolaus lowered their price target on 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday. UBS Group lowered their price target on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday. Citigroup lowered their price target on 10x Genomics from $35.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. 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. Finally, Barclays lowered 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 note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, 10x Genomics presently has an average rating of “Hold” and an average price target of $20.57.

10x Genomics Stock Performance

NASDAQ:TXG opened at $12.31 on Thursday. The stock’s 50 day moving average price is $14.68 and its 200 day moving average price is $17.37. 10x Genomics has a 52 week low of $10.80 and a 52 week high of $51.22. The company has a market capitalization of $1.49 billion, a P/E ratio of -8.05 and a beta of 1.85.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC lifted its holdings in shares of 10x Genomics by 424.6% during the fourth quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock valued at $26,000 after acquiring an additional 1,452 shares during the period. Capital Performance Advisors LLP bought a new position in shares of 10x Genomics during the third quarter valued at $35,000. GAMMA Investing LLC lifted 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 acquiring an additional 1,265 shares during the period. Blue Trust Inc. lifted its holdings in shares of 10x Genomics by 136.5% during the third quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock valued at $40,000 after acquiring an additional 1,025 shares during the period. Finally, Sound Income Strategies LLC lifted its holdings 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 acquiring an additional 1,330 shares during the period. 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.