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

10x Genomics (NASDAQ:TXG)‘s stock had its “sell (e+)” rating reaffirmed by investment analysts at Weiss Ratings in a research report issued on Saturday,Weiss Ratings reports.

A number of other analysts have also commented on the stock. Stephens reaffirmed an “overweight” rating and set a $30.00 price objective on shares of 10x Genomics in a research note on Thursday, October 10th. UBS Group lowered their price objective on shares of 10x Genomics from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Canaccord Genuity Group reduced their target price on 10x Genomics from $32.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Citigroup dropped their price target on 10x Genomics from $35.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. decreased their price objective on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.86.

10x Genomics Stock Down 0.1 %

Shares of TXG stock opened at $15.08 on Friday. The stock has a 50-day simple moving average of $14.96 and a 200 day simple moving average of $17.95. The stock has a market capitalization of $1.83 billion, a P/E ratio of -9.86 and a beta of 1.83. 10x Genomics has a fifty-two week low of $12.95 and a fifty-two week high of $51.22.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.04. The company had revenue of $151.65 million during the quarter, compared to analyst estimates of $158.84 million. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.51) EPS. On average, sell-side analysts anticipate that 10x Genomics will post -1.43 earnings per share for the current year.

Institutional Trading of 10x Genomics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC raised its stake in shares of 10x Genomics by 2.7% in the third quarter. FMR LLC now owns 13,367,979 shares of the company’s stock valued at $301,849,000 after purchasing an additional 357,470 shares in the last quarter. ARK Investment Management LLC increased its holdings in 10x Genomics by 15.4% in the 3rd quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company’s stock valued at $242,743,000 after buying an additional 1,436,582 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of 10x Genomics by 3.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,373,212 shares of the company’s stock valued at $143,907,000 after buying an additional 230,145 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of 10x Genomics in the 4th quarter valued at $26,308,000. Finally, Geode Capital Management LLC lifted its holdings in shares of 10x Genomics by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company’s stock worth $41,009,000 after acquiring an additional 42,777 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

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.