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 reaffirmed by Weiss Ratings in a note issued to investors on Saturday,Weiss Ratings reports.

A number of other brokerages have also recently issued reports on TXG. Leerink Partnrs cut shares of 10x Genomics from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 13th. Morgan Stanley decreased their target price on shares of 10x Genomics from $28.00 to $26.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Canaccord Genuity Group lowered their price objective on shares of 10x Genomics from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Leerink Partners cut 10x Genomics from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $25.00 to $12.00 in a report on Thursday, February 13th. Finally, Citigroup lowered their price target on shares of 10x Genomics from $20.00 to $15.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $20.21.

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10x Genomics Stock Performance

Shares of NASDAQ TXG traded down $0.17 during mid-day trading on Friday, reaching $9.41. The company had a trading volume of 2,952,039 shares, compared to its average volume of 2,029,015. The stock has a market capitalization of $1.15 billion, a PE ratio of -6.19 and a beta of 1.93. 10x Genomics has a twelve month low of $9.27 and a twelve month high of $38.49. The stock's 50 day moving average is $12.35 and its 200-day moving average is $15.26.

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 analysts' consensus estimates 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%. On average, sell-side analysts anticipate that 10x Genomics will post -1.43 EPS for the current year.

Insider Activity

In related news, Director Alan Mateo acquired 40,000 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was purchased at an average cost of $11.14 per share, for a total transaction of $445,600.00. Following the purchase, the director now directly owns 61,691 shares of the company's stock, valued at $687,237.74. This trade represents a 184.41 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Benjamin J. Hindson sold 4,573 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $11.07, for a total value of $50,623.11. Following the completion of the sale, the insider now owns 335,324 shares of the company's stock, valued at approximately $3,712,036.68. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 10.03% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Commerce Bank lifted its position in 10x Genomics by 17.1% in the third quarter. Commerce Bank now owns 13,296 shares of the company's stock valued at $300,000 after buying an additional 1,946 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of 10x Genomics by 53.3% during the third quarter. First Horizon Advisors Inc. now owns 2,910 shares of the company's stock worth $66,000 after purchasing an additional 1,012 shares in the last quarter. Cerity Partners LLC lifted its stake in 10x Genomics by 42.3% during the third quarter. Cerity Partners LLC now owns 36,367 shares of the company's stock worth $821,000 after purchasing an additional 10,815 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in 10x Genomics in the third quarter valued at $204,000. Finally, FMR LLC boosted its holdings 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 acquiring an additional 357,470 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

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.