10x Genomics (NASDAQ:TXG) Earns "Sell (E+)" Rating from Weiss Ratings

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

TXG has been the subject of several other research reports. Wall Street Zen upgraded shares of 10x Genomics from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Stifel Nicolaus reduced their price objective on 10x Genomics from $21.00 to $18.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Barclays lowered their price objective on 10x Genomics from $15.00 to $12.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Canaccord Genuity Group cut their target price 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. Finally, Leerink Partnrs downgraded shares of 10x Genomics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $15.81.

10x Genomics Stock Performance

Shares of NASDAQ:TXG traded down $0.01 during midday trading on Wednesday, hitting $10.58. The company's stock had a trading volume of 1,270,470 shares, compared to its average volume of 2,540,887. The stock's 50 day simple moving average is $8.68 and its 200 day simple moving average is $11.59. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -6.96 and a beta of 1.99. 10x Genomics has a fifty-two week low of $6.78 and a fifty-two week high of $24.76.

10x Genomics (NASDAQ:TXG - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.09. 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. The company had revenue of $154.88 million for the quarter, compared to the consensus estimate of $131.91 million. During the same period in the previous year, the business posted ($0.50) EPS. The company's revenue for the quarter was down 2.3% on a year-over-year basis. As a group, analysts anticipate that 10x Genomics will post -1.43 EPS for the current year.

Insider Buying and Selling at 10x Genomics

In other news, CFO Adam Taich sold 4,044 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $8.30, for a total value of $33,565.20. Following the completion of the sale, the chief financial officer now directly owns 331,588 shares in the company, valued at approximately $2,752,180.40. This trade represents a 1.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction, the insider now owns 448,374 shares in the company, valued at approximately $3,721,504.20. This trade represents a 1.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,872 shares of company stock worth $173,238 over the last ninety days. Corporate insiders own 9.39% of the company's stock.

Institutional Trading of 10x Genomics

Several hedge funds have recently modified their holdings of the stock. Signaturefd LLC boosted its position in 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 buying an additional 1,452 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of 10x Genomics by 81.8% during the first quarter. GAMMA Investing LLC now owns 3,586 shares of the company's stock valued at $31,000 after acquiring an additional 1,614 shares during the period. GF Fund Management CO. LTD. acquired a new position in shares of 10x Genomics during the fourth quarter valued at $32,000. Whittier Trust Co. bought a new position in 10x Genomics in the first quarter valued at about $41,000. Finally, PNC Financial Services Group Inc. increased its position in 10x Genomics by 153.6% in the first quarter. PNC Financial Services Group Inc. now owns 5,150 shares of the company's stock worth $45,000 after purchasing an additional 3,119 shares during the period. 84.68% of the stock is owned by 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.