10x Genomics’ (TXG) Sell (E+) Rating Reiterated at Weiss Ratings

Weiss Ratings reaffirmed their sell (e+) rating on shares of 10x Genomics (NASDAQ:TXGFree Report) in a report released on Saturday,Weiss Ratings reports.

TXG has been the subject of several other reports. Canaccord Genuity Group lowered their price objective on shares of 10x Genomics from $32.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 10th. The Goldman Sachs Group reduced their target price on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating on the stock in a research report on Wednesday, October 30th. UBS Group lowered their price target on shares of 10x Genomics from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. JPMorgan Chase & Co. cut their price objective on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Finally, Citigroup lowered their target price on shares of 10x Genomics from $35.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.86.

Read Our Latest Stock Report on 10x Genomics

10x Genomics Stock Performance

NASDAQ TXG opened at $15.08 on Friday. The company has a market capitalization of $1.83 billion, a P/E ratio of -9.86 and a beta of 1.83. 10x Genomics has a 52-week low of $12.95 and a 52-week high of $51.22. The company has a fifty day moving average of $14.96 and a 200-day moving average of $17.95.

10x Genomics (NASDAQ:TXGGet Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. The company had revenue of $151.65 million during the quarter, compared to analysts’ expectations of $158.84 million. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. The firm’s revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.51) EPS. As a group, analysts forecast that 10x Genomics will post -1.43 EPS for the current fiscal year.

Institutional Investors Weigh In On 10x Genomics

Several hedge funds and other institutional investors have recently modified their holdings of the business. State of New Jersey Common Pension Fund D grew its holdings in 10x Genomics by 41.7% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 84,118 shares of the company’s stock worth $1,636,000 after acquiring an additional 24,761 shares in the last quarter. Federated Hermes Inc. bought a new position in 10x Genomics in the second quarter worth approximately $136,000. Renaissance Technologies LLC lifted its holdings in 10x Genomics by 301.1% during the second quarter. Renaissance Technologies LLC now owns 210,200 shares of the company’s stock worth $4,088,000 after buying an additional 157,800 shares during the period. Hsbc Holdings PLC purchased a new stake in 10x Genomics during the second quarter worth $1,797,000. Finally, Benjamin F. Edwards & Company Inc. boosted its position in 10x Genomics by 10,124.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 44,785 shares of the company’s stock valued at $871,000 after acquiring an additional 44,347 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

10x Genomics Company Profile

(Get Free Report)

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.

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Analyst Recommendations for 10x Genomics (NASDAQ:TXG)

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