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

Weiss Ratings reiterated their sell (e+) rating on shares of 10x Genomics (NASDAQ:TXG) in a research report released on Wednesday,Weiss Ratings reports.

Other equities research analysts have also recently issued reports about the stock. Barclays reduced their price target on shares of 10x Genomics from $15.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Leerink Partners downgraded 10x Genomics from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $25.00 to $12.00 in a research report on Thursday, February 13th. Wall Street Zen upgraded shares of 10x Genomics from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. Stifel Nicolaus reduced their price objective on 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, Leerink Partnrs downgraded 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $15.81.

10x Genomics Price Performance

TXG stock opened at $10.41 on Wednesday. The business has a 50 day simple moving average of $8.75 and a 200-day simple moving average of $11.56. The firm has a market capitalization of $1.28 billion, a PE ratio of -6.85 and a beta of 1.99. 10x Genomics has a 1 year low of $6.78 and a 1 year high of $24.76.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.09. 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. The company had revenue of $154.88 million during the quarter, compared to analyst estimates of $131.91 million. During the same period in the prior year, the business posted ($0.50) earnings per share. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, equities research analysts expect that 10x Genomics will post -1.43 EPS for the current year.

Insider Activity at 10x Genomics

In related news, CFO Adam Taich sold 4,044 shares of 10x Genomics stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $8.30, for a total transaction of $33,565.20. Following the completion of the transaction, the chief financial officer now owns 331,588 shares in the company, valued at approximately $2,752,180.40. This trade represents a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Serge Saxonov sold 9,343 shares of 10x Genomics stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $8.30, for a total transaction of $77,546.90. Following the sale, the chief executive officer now directly owns 1,083,625 shares of the company’s stock, valued at $8,994,087.50. The trade was a 0.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,872 shares of company stock worth $173,238 in the last 90 days. 9.39% of the stock is owned by company insiders.

Institutional Trading of 10x Genomics

Institutional investors have recently modified their holdings of the stock. Signaturefd LLC raised its position in 10x Genomics by 424.6% in the fourth quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock valued at $26,000 after purchasing an additional 1,452 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of 10x Genomics in the 4th quarter worth $32,000. Blue Trust Inc. grew its holdings in shares of 10x Genomics by 86.5% in the fourth quarter. Blue Trust Inc. now owns 3,312 shares of the company’s stock valued at $48,000 after acquiring an additional 1,536 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of 10x Genomics during the 4th quarter valued at approximately $52,000. Finally, GAMMA Investing LLC lifted its holdings in 10x Genomics by 81.8% during the first quarter. GAMMA Investing LLC now owns 3,586 shares of the company’s stock valued at $31,000 after purchasing an additional 1,614 shares during the last quarter. 84.68% of the stock is currently 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.