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

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

Other equities analysts also recently issued research reports about the stock. Morgan Stanley decreased their target price on shares of 10x Genomics from $28.00 to $26.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. Citigroup lowered their price objective on 10x Genomics from $20.00 to $15.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Leerink Partnrs lowered 10x Genomics from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 13th. 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 report on Thursday, February 13th. Finally, UBS Group reduced their price objective on 10x Genomics from $20.00 to $14.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $19.79.

10x Genomics Stock Down 1.3 %

Shares of NASDAQ TXG traded down $0.11 during midday trading on Thursday, reaching $8.27. The company had a trading volume of 2,785,885 shares, compared to its average volume of 2,271,296. The stock has a market cap of $1.01 billion, a PE ratio of -5.44 and a beta of 2.01. 10x Genomics has a one year low of $6.78 and a one year high of $28.25. The firm's fifty day moving average price is $9.28 and its 200-day moving average price is $12.92.

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%. As a group, equities research analysts expect that 10x Genomics will post -1.43 EPS for the current year.

Insider Activity

In other news, insider Benjamin J. Hindson sold 4,573 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $50,623.11. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Serge Saxonov sold 5,092 shares of the company'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 $56,368.44. Following the completion of the sale, the chief executive officer now directly owns 879,482 shares of the company's stock, valued at $9,735,865.74. This represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders own 10.03% of the company's stock.

Institutional Trading of 10x Genomics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TXG. Signaturefd LLC increased its position in shares of 10x Genomics by 424.6% during the fourth quarter. Signaturefd LLC now owns 1,794 shares of the company's stock worth $26,000 after acquiring an additional 1,452 shares during the period. GF Fund Management CO. LTD. acquired a new position in 10x Genomics during the 4th quarter worth $32,000. Blue Trust Inc. increased its holdings in 10x Genomics by 73.1% during the 4th quarter. Blue Trust Inc. now owns 3,075 shares of the company's stock worth $44,000 after purchasing an additional 1,299 shares during the period. Sound Income Strategies LLC raised its position in 10x Genomics by 65.2% in the 4th quarter. Sound Income Strategies LLC now owns 3,370 shares of the company's stock valued at $48,000 after purchasing an additional 1,330 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of 10x Genomics in the 4th quarter valued at about $52,000. 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.