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

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

TXG has been the subject of several other research reports. 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 report on Friday, May 9th. Morgan Stanley reduced their price target on shares of 10x Genomics from $26.00 to $18.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Wall Street Zen lowered shares of 10x Genomics from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. 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, Barclays restated an "overweight" rating and set a $13.00 price target (up previously from $12.00) on shares of 10x Genomics in a research report on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $14.13.

10x Genomics Stock Performance

Shares of 10x Genomics stock traded up $0.08 during trading hours on Friday, reaching $12.45. The company's stock had a trading volume of 2,083,346 shares, compared to its average volume of 2,716,413. The stock's fifty day simple moving average is $10.54 and its two-hundred day simple moving average is $11.02. The company has a market capitalization of $1.53 billion, a P/E ratio of -9.58 and a beta of 2.03. 10x Genomics has a one year low of $6.78 and a one year high of $24.76.

10x Genomics (NASDAQ:TXG - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate 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 net margin of 25.14% and a negative return on equity of 23.22%. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.50) earnings per share. As a group, research analysts forecast that 10x Genomics will post -1.43 earnings per share for the current year.

Insiders Place Their Bets

In other 10x Genomics news, CEO Serge Saxonov sold 9,343 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total transaction of $77,546.90. Following the completion of the transaction, the chief executive officer owned 1,083,625 shares in the company, valued at $8,994,087.50. This trade represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Benjamin J. Hindson sold 7,485 shares of the 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 owned 448,374 shares of the company's stock, valued at $3,721,504.20. This represents a 1.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,872 shares of company stock worth $173,238 over the last quarter. 9.39% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On 10x Genomics

A number of large investors have recently modified their holdings of the company. Signaturefd LLC boosted its position in shares of 10x Genomics by 424.6% in the fourth quarter. Signaturefd LLC now owns 1,794 shares of the company's stock valued at $26,000 after acquiring an additional 1,452 shares during the period. GAMMA Investing LLC boosted its position in shares of 10x Genomics by 81.8% in 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. Xponance Inc. boosted its position in shares of 10x Genomics by 17.4% in the first quarter. Xponance Inc. now owns 12,010 shares of the company's stock valued at $105,000 after acquiring an additional 1,778 shares during the period. GF Fund Management CO. LTD. bought a new position in shares of 10x Genomics in the fourth quarter valued at approximately $32,000. Finally, AlphaQuest LLC boosted its position in shares of 10x Genomics by 8.3% in the first quarter. AlphaQuest LLC now owns 29,459 shares of the company's stock valued at $257,000 after acquiring an additional 2,258 shares during the period. 84.68% of the stock is currently 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.