Weiss Ratings Reiterates “Sell (E+)” Rating for 10x Genomics (NASDAQ:TXG)

10x Genomics (NASDAQ:TXG)‘s stock had its “sell (e+)” rating reaffirmed by research analysts at Weiss Ratings in a research report issued on Saturday,Weiss Ratings reports.

TXG has been the topic of several other reports. Barclays lowered their target price 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. Leerink Partnrs cut shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 13th. Citigroup dropped their price objective on 10x Genomics from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. UBS Group decreased their target price on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Finally, Canaccord Genuity Group lowered their price target on 10x Genomics from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, 10x Genomics currently has an average rating of “Hold” and a consensus price target of $20.21.

10x Genomics Stock Performance

NASDAQ:TXG opened at $10.39 on Friday. The business’s fifty day moving average is $12.68 and its 200 day moving average is $15.47. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -6.84 and a beta of 1.93. 10x Genomics has a 52-week low of $9.27 and a 52-week high of $38.49.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.08). 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. Equities analysts predict that 10x Genomics will post -1.43 EPS for the current fiscal year.

Insider Activity

In other 10x Genomics news, insider Benjamin J. Hindson sold 4,573 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $50,623.11. Following the completion of the sale, the insider now owns 335,324 shares in the company, valued at approximately $3,712,036.68. The trade was a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Serge Saxonov sold 5,092 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $11.07, for a total transaction of $56,368.44. Following the completion of the transaction, the chief executive officer now owns 879,482 shares in the company, valued at $9,735,865.74. This represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. 10.03% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On 10x Genomics

Hedge funds have recently modified their holdings of the company. Signaturefd LLC grew its stake in shares of 10x Genomics by 424.6% in the fourth quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock worth $26,000 after purchasing an additional 1,452 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in 10x Genomics in the 4th quarter worth approximately $32,000. First Horizon Advisors Inc. grew its position 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 worth $66,000 after buying an additional 1,012 shares during the last quarter. Blue Trust Inc. grew its position in shares of 10x Genomics by 73.1% in the 4th quarter. Blue Trust Inc. now owns 3,075 shares of the company’s stock worth $44,000 after buying an additional 1,299 shares during the last quarter. Finally, Sound Income Strategies LLC increased its stake 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 buying an additional 1,330 shares during the period. Hedge funds and other 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.