10x Genomics' (TXG) Sell (E+) Rating Reaffirmed at Weiss Ratings

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

Other analysts also recently issued research reports about the stock. Leerink Partnrs downgraded shares of 10x Genomics from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 13th. Morgan Stanley dropped their price target on shares of 10x Genomics from $28.00 to $26.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. Barclays reduced 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. Leerink Partners lowered shares of 10x Genomics from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $25.00 to $12.00 in a research note on Thursday, February 13th. Finally, 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 note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $17.81.

10x Genomics Trading Up 8.2%

Shares of TXG traded up $0.72 during trading hours on Friday, reaching $9.49. 4,035,743 shares of the company traded hands, compared to its average volume of 2,329,999. The stock's fifty day moving average price is $8.92 and its 200 day moving average price is $12.50. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -6.24 and a beta of 1.94. 10x Genomics has a 12-month low of $6.78 and a 12-month high of $28.25.

10x Genomics (NASDAQ:TXG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.08). 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. On average, research analysts forecast that 10x Genomics will post -1.43 earnings per share for the current year.

Insider Buying and Selling

In other 10x Genomics news, insider Benjamin J. Hindson sold 4,573 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $50,623.11. Following the sale, the insider now directly owns 335,324 shares in the company, valued at $3,712,036.68. This 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 the SEC website. Also, Director Alan Mateo purchased 40,000 shares of 10x Genomics stock in a transaction dated Friday, February 21st. The shares were acquired at an average cost of $11.14 per share, for a total transaction of $445,600.00. Following the transaction, the director now directly owns 61,691 shares of the company's stock, valued at approximately $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 currently owned by corporate insiders.

Institutional Trading of 10x Genomics

Large investors have recently modified their holdings of the stock. RA Capital Management L.P. purchased a new stake in shares of 10x Genomics during the fourth quarter worth approximately $47,092,000. Assenagon Asset Management S.A. purchased a new position in 10x Genomics in the fourth quarter valued at $26,308,000. D. E. Shaw & Co. Inc. acquired a new stake in 10x Genomics in the fourth quarter valued at $17,499,000. ARK Investment Management LLC lifted its holdings in 10x Genomics by 11.1% during the 4th quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company's stock worth $171,517,000 after buying an additional 1,193,712 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of 10x Genomics by 291.2% during the 4th quarter. Two Sigma Investments LP now owns 1,319,487 shares of the company's stock worth $18,948,000 after acquiring an additional 982,203 shares in the last quarter. Hedge funds and other 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.