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 reissued by stock analysts at Weiss Ratings in a report released on Thursday,Weiss Ratings reports.

Other equities research analysts also recently issued reports about the company. Barclays lowered their target price on 10x Genomics from $15.00 to $12.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Stifel Nicolaus lowered 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. Leerink Partners lowered shares of 10x Genomics from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $25.00 to $12.00 in a research note on Thursday, February 13th. Leerink Partnrs cut shares of 10x Genomics from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 13th. Finally, Citigroup dropped their price objective on shares of 10x Genomics from $20.00 to $15.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, 10x Genomics has a consensus rating of "Hold" and an average price target of $19.79.

10x Genomics Price Performance

NASDAQ TXG traded up $0.18 on Thursday, reaching $8.48. The company had a trading volume of 3,178,655 shares, compared to its average volume of 2,266,116. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -5.58 and a beta of 2.01. 10x Genomics has a fifty-two week low of $6.78 and a fifty-two week high of $29.37. The business has a 50 day moving average of $9.47 and a two-hundred day moving average of $13.04.

10x Genomics (NASDAQ:TXG - Get Free Report) last issued its quarterly 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%. As a group, research analysts predict that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 10x Genomics news, insider Benjamin J. Hindson sold 4,573 shares of 10x Genomics stock in a transaction on Monday, February 24th. The shares were 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 $3,712,036.68. The trade was a 1.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan Mateo bought 40,000 shares of the stock in a transaction dated Friday, February 21st. The stock was purchased at an average price of $11.14 per share, with a total value of $445,600.00. Following the acquisition, the director now owns 61,691 shares of the company's stock, valued at $687,237.74. The trade was a 184.41 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 10.03% of the company's stock.

Hedge Funds Weigh In On 10x Genomics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Signaturefd LLC lifted its holdings in 10x Genomics by 424.6% during the fourth quarter. Signaturefd LLC now owns 1,794 shares of the company's stock worth $26,000 after acquiring an additional 1,452 shares during the period. GAMMA Investing LLC increased its position in shares of 10x Genomics by 81.8% during the 1st quarter. GAMMA Investing LLC now owns 3,586 shares of the company's stock valued at $31,000 after purchasing an additional 1,614 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of 10x Genomics during the 4th quarter worth $32,000. Blue Trust Inc. boosted its holdings in shares of 10x Genomics by 73.1% in the 4th quarter. Blue Trust Inc. now owns 3,075 shares of the company's stock worth $44,000 after buying an additional 1,299 shares during the last quarter. Finally, Sound Income Strategies LLC grew its position in 10x Genomics by 65.2% during the fourth quarter. Sound Income Strategies LLC now owns 3,370 shares of the company's stock valued at $48,000 after buying an additional 1,330 shares during the period. Hedge funds and other institutional investors 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.