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

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

TXG has been the topic of a number of other research reports. Leerink Partners cut shares of 10x Genomics from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $25.00 to $12.00 in a research report on Thursday, February 13th. Morgan Stanley decreased their price objective on shares of 10x Genomics from $28.00 to $26.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. Stifel Nicolaus reduced 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. Barclays dropped their price objective 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, JPMorgan Chase & Co. reduced their target price on 10x Genomics from $14.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $19.79.

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10x Genomics Price Performance

Shares of 10x Genomics stock traded up $0.31 during trading hours on Tuesday, reaching $8.01. The company's stock had a trading volume of 3,349,046 shares, compared to its average volume of 2,169,291. The firm has a 50 day moving average price of $10.44 and a 200-day moving average price of $13.90. The stock has a market cap of $979.64 million, a P/E ratio of -5.27 and a beta of 2.01. 10x Genomics has a one year low of $6.78 and a one year high of $34.67.

10x Genomics (NASDAQ:TXG - Get Free Report) last issued its quarterly earnings data 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%. As a group, sell-side analysts forecast that 10x Genomics will post -1.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Benjamin J. Hindson sold 4,573 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $11.07, for a total transaction of $50,623.11. Following the transaction, the insider now directly owns 335,324 shares of the company's stock, valued at approximately $3,712,036.68. This represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Serge Saxonov sold 5,092 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $56,368.44. Following the completion of the sale, the chief executive officer now directly owns 879,482 shares of the company's stock, valued at $9,735,865.74. The trade was a 0.58 % decrease in their position. The disclosure for this sale can be found here. 10.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On 10x Genomics

Several institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in 10x Genomics by 355.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 355,488 shares of the company's stock worth $8,027,000 after purchasing an additional 277,355 shares in the last quarter. Entropy Technologies LP lifted its stake in shares of 10x Genomics by 285.6% during the fourth quarter. Entropy Technologies LP now owns 37,595 shares of the company's stock worth $540,000 after buying an additional 27,844 shares during the period. Geode Capital Management LLC grew its holdings in shares of 10x Genomics by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company's stock valued at $41,009,000 after buying an additional 42,777 shares during the last quarter. SG Americas Securities LLC increased its position in shares of 10x Genomics by 209.8% in the 4th quarter. SG Americas Securities LLC now owns 73,046 shares of the company's stock valued at $1,049,000 after acquiring an additional 49,468 shares during the period. Finally, Alberta Investment Management Corp purchased a new position in 10x Genomics in the 4th quarter worth $3,206,000. 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.