10x Genomics (NASDAQ:TXG) Given Sell (E+) Rating at Weiss Ratings

10x Genomics (NASDAQ:TXG - Get Free Report)'s stock had its "sell (e+)" rating reiterated by analysts at Weiss Ratings in a research report issued on Friday,Weiss Ratings reports.

A number of other equities research analysts have also recently weighed in on TXG. Stephens reaffirmed an "overweight" rating and issued a $14.00 price objective on shares of 10x Genomics in a research note on Thursday, May 15th. JPMorgan Chase & Co. dropped their price objective on 10x Genomics from $12.00 to $9.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. 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. Wall Street Zen raised 10x Genomics from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Finally, Canaccord Genuity Group dropped their price objective on 10x Genomics from $18.00 to $15.00 and set a "buy" rating for the company in a research note on Monday, May 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $14.96.

10x Genomics Stock Up 0.3%

NASDAQ:TXG opened at $11.73 on Friday. 10x Genomics has a 52 week low of $6.78 and a 52 week high of $24.76. The company has a market capitalization of $1.44 billion, a P/E ratio of -9.02 and a beta of 1.99. The stock's fifty day moving average is $9.37 and its two-hundred day moving average is $11.23.

10x Genomics (NASDAQ:TXG - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.36) EPS for the quarter, beating analysts' consensus estimates of ($0.45) by $0.09. 10x Genomics had a negative return on equity of 23.22% and a negative net margin of 25.14%. The company had revenue of $154.88 million for the quarter, compared to the consensus estimate of $131.91 million. During the same quarter in the previous year, the business earned ($0.50) earnings per share. The company's revenue for the quarter was down 2.3% on a year-over-year basis. Sell-side analysts anticipate that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Insider Transactions at 10x Genomics

In other news, insider Benjamin J. Hindson sold 7,485 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $8.30, for a total transaction of $62,125.50. Following the completion of the transaction, the insider now directly owns 448,374 shares of the company's stock, valued at approximately $3,721,504.20. This represents a 1.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Adam Taich sold 4,044 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $8.30, for a total value of $33,565.20. Following the transaction, the chief financial officer now directly owns 331,588 shares of the company's stock, valued at approximately $2,752,180.40. This represents a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,872 shares of company stock valued at $173,238. 9.39% of the stock is currently owned by corporate insiders.

Institutional Trading of 10x Genomics

Several institutional investors and hedge funds have recently made changes to their positions in TXG. Signaturefd LLC lifted its holdings in shares of 10x Genomics by 424.6% in the 4th 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. GAMMA Investing LLC lifted its holdings in shares of 10x Genomics by 81.8% in the 1st 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. GF Fund Management CO. LTD. purchased a new stake in shares of 10x Genomics in the 4th quarter valued at about $32,000. Whittier Trust Co. purchased a new stake in shares of 10x Genomics in the 1st quarter valued at about $41,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of 10x Genomics by 153.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,150 shares of the company's stock valued at $45,000 after purchasing an additional 3,119 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

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.

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