10x Genomics (NASDAQ:TXG) Given "Sell (E+)" Rating at Weiss Ratings

10x Genomics (NASDAQ:TXG - Get Free Report)'s stock had its "sell (e+)" rating reiterated by analysts at Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

Several other equities analysts also recently issued reports on the stock. Canaccord Genuity Group cut their price objective on shares of 10x Genomics from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Leerink Partnrs lowered shares of 10x Genomics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 13th. Citigroup lowered their price target on 10x Genomics from $20.00 to $15.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. Barclays reduced their price objective on 10x Genomics from $19.00 to $18.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Finally, Stifel Nicolaus decreased their price objective on shares of 10x Genomics from $21.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. One equities research 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.com, the stock presently has an average rating of "Hold" and a consensus price target of $20.21.

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10x Genomics Stock Up 2.0 %

NASDAQ:TXG traded up $0.23 during midday trading on Friday, hitting $11.70. The stock had a trading volume of 3,310,367 shares, compared to its average volume of 2,800,215. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -7.70 and a beta of 1.93. 10x Genomics has a one year low of $9.27 and a one year high of $42.85. The stock has a 50-day moving average of $13.62 and a 200 day moving average of $16.40.

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

Insider Activity at 10x Genomics

In other news, insider Benjamin J. Hindson sold 4,573 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $50,623.11. Following the transaction, the insider now owns 335,324 shares in the company, valued at $3,712,036.68. This trade represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Serge Saxonov sold 5,092 shares of 10x Genomics stock in a transaction that occurred 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 in the company, valued at $9,735,865.74. This represents a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On 10x Genomics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. RA Capital Management L.P. purchased a new position in shares of 10x Genomics in the fourth quarter worth about $47,092,000. Assenagon Asset Management S.A. acquired a new stake in 10x Genomics in the 4th quarter valued at about $26,308,000. Point72 Asset Management L.P. purchased a new position in 10x Genomics in the 3rd quarter worth approximately $27,778,000. D. E. Shaw & Co. Inc. acquired a new position in shares of 10x Genomics during the 4th quarter worth approximately $17,499,000. Finally, ARK Investment Management LLC grew its position in shares of 10x Genomics by 11.1% in the fourth quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company's stock valued at $171,517,000 after purchasing an additional 1,193,712 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.