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

Weiss Ratings restated their sell (e+) rating on shares of 10x Genomics (NASDAQ:TXG) in a research note issued to investors on Saturday,Weiss Ratings reports.

A number of other research analysts have also weighed in on TXG. JPMorgan Chase & Co. cut their price objective on 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Canaccord Genuity Group cut their price objective on 10x Genomics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Leerink Partnrs lowered 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 13th. UBS Group cut their price objective on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Finally, Citigroup cut their price objective on 10x Genomics from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. One 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. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.21.

10x Genomics Stock Performance

Shares of 10x Genomics stock opened at $10.39 on Friday. The company has a market capitalization of $1.27 billion, a P/E ratio of -6.84 and a beta of 1.93. The company has a fifty day moving average of $12.68 and a 200 day moving average of $15.47. 10x Genomics has a fifty-two week low of $9.27 and a fifty-two week high of $38.49.

10x Genomics (NASDAQ:TXG) last issued its 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 return on equity of 25.40% and a negative net margin of 29.90%. Analysts forecast that 10x Genomics will post -1.43 EPS for the current year.

Insiders Place Their Bets

In other 10x Genomics news, insider Benjamin J. Hindson sold 4,573 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were 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 of the company’s stock, valued at $3,712,036.68. This trade represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alan Mateo acquired 40,000 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was purchased at an average cost of $11.14 per share, with a total value of $445,600.00. Following the purchase, the director now owns 61,691 shares of the company’s stock, valued at $687,237.74. The trade was a 184.41 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 10.03% of the stock is owned by insiders.

Institutional Trading of 10x Genomics

Several institutional investors and hedge funds have recently modified their holdings of TXG. Commerce Bank raised its stake in shares of 10x Genomics by 17.1% during the third quarter. Commerce Bank now owns 13,296 shares of the company’s stock valued at $300,000 after acquiring an additional 1,946 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of 10x Genomics by 53.3% during the third quarter. First Horizon Advisors Inc. now owns 2,910 shares of the company’s stock valued at $66,000 after acquiring an additional 1,012 shares in the last quarter. Cerity Partners LLC raised its stake in shares of 10x Genomics by 42.3% during the third quarter. Cerity Partners LLC now owns 36,367 shares of the company’s stock valued at $821,000 after acquiring an additional 10,815 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of 10x Genomics during the third quarter valued at approximately $204,000. Finally, FMR LLC raised its stake in shares of 10x Genomics by 2.7% during the third quarter. FMR LLC now owns 13,367,979 shares of the company’s stock valued at $301,849,000 after acquiring an additional 357,470 shares in the last quarter. 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.