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

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

Several other equities research analysts have also recently issued reports on TXG. Barclays cut their price objective 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. JPMorgan Chase & Co. lowered their target price on shares of 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 lowered their target price on shares of 10x Genomics from $20.00 to $15.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. Leerink Partners lowered shares of 10x Genomics from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $25.00 to $12.00 in a research note on Thursday, February 13th. Finally, Stifel Nicolaus lowered their target price on shares of 10x Genomics from $21.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, 10x Genomics currently has a consensus rating of "Hold" and a consensus target price of $16.42.

10x Genomics Stock Performance

Shares of NASDAQ TXG traded down $0.32 during mid-day trading on Friday, reaching $8.81. The company's stock had a trading volume of 586,018 shares, compared to its average volume of 2,344,403. The stock has a 50-day moving average of $8.83 and a two-hundred day moving average of $12.45. The stock has a market capitalization of $1.08 billion, a P/E ratio of -5.75 and a beta of 1.94. 10x Genomics has a 1-year low of $6.78 and a 1-year high of $27.49.

10x Genomics (NASDAQ:TXG - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.09. 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. The firm had revenue of $154.88 million during the quarter, compared to analysts' expectations of $131.91 million. During the same period last year, the business earned ($0.50) earnings per share. 10x Genomics's revenue was down 2.3% compared to the same quarter last year. Analysts predict that 10x Genomics will post -1.43 EPS for the current fiscal year.

Insider Buying and Selling

In other 10x Genomics news, CEO Serge Saxonov sold 5,092 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $56,368.44. Following the sale, the chief executive officer now owns 879,482 shares of the company's stock, valued at approximately $9,735,865.74. This trade represents a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alan Mateo acquired 40,000 shares of the business's stock in a transaction on Friday, February 21st. The shares were bought at an average cost of $11.14 per share, for a total transaction of $445,600.00. Following the acquisition, the director now owns 61,691 shares of the company's stock, valued at $687,237.74. This represents a 184.41% increase in their position. The disclosure for this purchase can be found here. 9.39% of the stock is owned by insiders.

Hedge Funds Weigh In On 10x Genomics

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in 10x Genomics by 355.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 355,488 shares of the company's stock valued at $8,027,000 after buying an additional 277,355 shares during the period. Entropy Technologies LP boosted its position in shares of 10x Genomics by 285.6% during the 4th quarter. Entropy Technologies LP now owns 37,595 shares of the company's stock worth $540,000 after purchasing an additional 27,844 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of 10x Genomics by 209.8% during the 4th quarter. SG Americas Securities LLC now owns 73,046 shares of the company's stock worth $1,049,000 after purchasing an additional 49,468 shares in the last quarter. Alberta Investment Management Corp purchased a new stake in shares of 10x Genomics during the 4th quarter worth $3,206,000. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in shares of 10x Genomics during the 4th quarter worth $326,000. 84.68% of the stock is owned by institutional investors and hedge funds.

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.