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

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

TXG has been the topic of several other reports. Morgan Stanley cut their target price on 10x Genomics from $26.00 to $18.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Barclays reaffirmed an "overweight" rating and set a $13.00 price target (up from $12.00) on shares of 10x Genomics in a research report on Tuesday, June 24th. Stephens reaffirmed an "overweight" rating and set a $14.00 price target on shares of 10x Genomics in a research report on Thursday, May 15th. Wall Street Zen downgraded 10x Genomics from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. Finally, UBS Group cut their price target on 10x Genomics from $14.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, 10x Genomics currently has an average rating of "Hold" and a consensus target price of $14.13.

10x Genomics Stock Up 1.4%

10x Genomics stock opened at $12.80 on Friday. The business has a fifty day moving average of $10.22 and a two-hundred day moving average of $11.03. The firm has a market cap of $1.58 billion, a P/E ratio of -9.85 and a beta of 2.03. 10x Genomics has a twelve month low of $6.78 and a twelve month high of $24.76.

10x Genomics (NASDAQ:TXG - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.36) earnings per share for the quarter, topping analysts' consensus estimates of ($0.45) by $0.09. The company had revenue of $154.88 million during the quarter, compared to analyst estimates of $131.91 million. 10x Genomics had a negative return on equity of 23.22% and a negative net margin of 25.14%. 10x Genomics's revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.50) earnings per share. Equities analysts expect that 10x Genomics will post -1.43 earnings per share for the current year.

Insider Transactions at 10x Genomics

In related news, insider Benjamin J. Hindson sold 7,485 shares of 10x Genomics stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total value of $62,125.50. Following the completion of the sale, the insider owned 448,374 shares in the company, valued at approximately $3,721,504.20. This trade represents a 1.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Serge Saxonov sold 9,343 shares of 10x Genomics stock in a transaction that occurred on 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 sale, the chief executive officer owned 1,083,625 shares of the company's stock, valued at $8,994,087.50. This trade represents a 0.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,872 shares of company stock worth $173,238 in the last 90 days. Insiders own 9.39% of the company's stock.

Institutional Trading of 10x Genomics

Institutional investors have recently added to or reduced their stakes in the stock. Diversified Trust Co grew its stake in shares of 10x Genomics by 16.6% in the second quarter. Diversified Trust Co now owns 66,741 shares of the company's stock worth $773,000 after acquiring an additional 9,505 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of 10x Genomics by 209.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 96,001 shares of the company's stock worth $1,112,000 after acquiring an additional 64,940 shares in the last quarter. Pallas Capital Advisors LLC grew its stake in shares of 10x Genomics by 138.8% in the second quarter. Pallas Capital Advisors LLC now owns 56,776 shares of the company's stock worth $657,000 after acquiring an additional 32,996 shares in the last quarter. Kera Capital Partners Inc. acquired a new position in shares of 10x Genomics in the second quarter worth $359,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of 10x Genomics by 163.5% in the first quarter. Goldman Sachs Group Inc. now owns 645,366 shares of the company's stock worth $5,634,000 after acquiring an additional 400,430 shares in the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.