Affymetrix Shares Decline on Downgrade from JP Morgan

Jan 04, 2011

NEW YORK (GenomeWeb News) – Shares of microarray firm Affymetrix tumbled about 7 percent after investment firm JP Morgan downgraded the company to "underweight" from "neutral."

In mid-afternoon trading, shares of the Santa Clara, Calif., firm's stock were down to $4.71 from $5.05 at the close of the market on Monday. More than 1.3 million shares had been traded, up from an average daily volume of less than 900,000 shares during the past three months.

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