10x Genomics’ (TXG) “Sell (E+)” Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their sell (e+) rating on shares of 10x Genomics (NASDAQ:TXG) in a research report report published on Saturday morning,Weiss Ratings reports.

Several other brokerages have also recently issued reports on TXG. Citigroup dropped their price objective on 10x Genomics from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. UBS Group lowered their price objective on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. JPMorgan Chase & Co. dropped their target price on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Barclays lowered their target price on 10x Genomics from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Finally, Stifel Nicolaus cut their price target on 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.21.

10x Genomics Stock Performance

TXG stock opened at $10.39 on Friday. 10x Genomics has a 12 month low of $9.27 and a 12 month high of $38.49. The stock has a market cap of $1.27 billion, a PE ratio of -6.84 and a beta of 1.93. The company has a 50-day moving average price of $12.57 and a 200 day moving average price of $15.38.

10x Genomics (NASDAQ:TXG) last released its earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.08). 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. Sell-side analysts forecast that 10x Genomics will post -1.43 EPS for the current year.

Insiders Place Their Bets

In other 10x Genomics news, CEO Serge Saxonov sold 5,092 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $56,368.44. Following the transaction, the chief executive officer now directly owns 879,482 shares of the company’s stock, valued at $9,735,865.74. This trade represents a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alan Mateo purchased 40,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was bought at an average cost of $11.14 per share, for a total transaction of $445,600.00. Following the completion of the purchase, the director now directly owns 61,691 shares in the company, valued at $687,237.74. This represents a 184.41 % increase in their position. The disclosure for this purchase can be found here. 10.03% of the stock is owned by insiders.

Institutional Investors Weigh In On 10x Genomics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its holdings in 10x Genomics by 0.6% in the 4th quarter. FMR LLC now owns 13,454,434 shares of the company’s stock valued at $193,206,000 after purchasing an additional 86,455 shares during the last quarter. ARK Investment Management LLC grew its position in 10x Genomics by 11.1% in the 4th quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock valued at $171,517,000 after acquiring an additional 1,193,712 shares in the last quarter. RA Capital Management L.P. acquired a new stake in shares of 10x Genomics during the fourth quarter worth about $47,092,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of 10x Genomics by 10.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,116,573 shares of the company’s stock valued at $30,394,000 after purchasing an additional 193,588 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in 10x Genomics in the 4th quarter valued at approximately $26,308,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.