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

Weiss Ratings reaffirmed their sell (e+) rating on shares of 10x Genomics (NASDAQ:TXG - Free Report) in a research report report published on Friday morning,Weiss Ratings reports.

A number of other equities analysts have also recently weighed in on the company. Citigroup dropped their price target on 10x Genomics from $20.00 to $15.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Morgan Stanley decreased their target price on shares of 10x Genomics from $26.00 to $18.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Barclays restated an "overweight" rating and set a $13.00 price target (up previously from $12.00) on shares of 10x Genomics in a report on Tuesday, June 24th. The Goldman Sachs Group reduced their price target on shares of 10x Genomics from $7.50 to $6.50 and set a "sell" rating for the company in a research report on Monday, May 12th. Finally, Bank of America lifted their price objective on shares of 10x Genomics from $12.00 to $13.00 and gave the stock a "neutral" rating in a research report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $14.96.

10x Genomics Stock Up 4.1%

NASDAQ:TXG traded up $0.48 during trading hours on Friday, reaching $12.06. 3,510,369 shares of the company's stock were exchanged, compared to its average volume of 2,704,300. The company has a market capitalization of $1.48 billion, a P/E ratio of -9.28 and a beta of 2.03. 10x Genomics has a 12 month low of $6.78 and a 12 month high of $24.76. The business's 50-day simple moving average is $9.53 and its two-hundred day simple moving average is $11.16.

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

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, 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 directly owned 331,588 shares of the company's stock, valued at $2,752,180.40. This represents a 1.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Benjamin J. Hindson sold 7,485 shares of 10x Genomics stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total value of $62,125.50. Following the sale, the insider owned 448,374 shares of the company's stock, valued at approximately $3,721,504.20. This represents a 1.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,872 shares of company stock worth $173,238 over the last 90 days. 10.03% of the stock is currently owned by corporate insiders.

Institutional Trading of 10x Genomics

Several large investors have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of 10x Genomics by 235.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,103,768 shares of the company's stock valued at $62,016,000 after acquiring an additional 4,987,195 shares in the last quarter. Millennium Management LLC grew its holdings in 10x Genomics by 434.5% during the first quarter. Millennium Management LLC now owns 5,377,492 shares of the company's stock valued at $46,946,000 after purchasing an additional 4,371,327 shares during the last quarter. RA Capital Management L.P. acquired a new position in 10x Genomics during the fourth quarter valued at approximately $47,092,000. D. E. Shaw & Co. Inc. acquired a new position in 10x Genomics during the fourth quarter valued at approximately $17,499,000. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of 10x Genomics by 3,619.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,166,723 shares of the company's stock valued at $10,185,000 after purchasing an additional 1,135,356 shares during the period. 84.68% of the stock is 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.