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

Weiss Ratings restated their sell (e+) rating on shares of 10x Genomics (NASDAQ:TXG) in a research report released on Friday,Weiss Ratings reports.

A number of other brokerages have also recently commented on TXG. Leerink Partners cut shares of 10x Genomics from an “outperform” rating to a “market perform” rating and cut their target price for the company from $25.00 to $12.00 in a report on Thursday, February 13th. Stifel Nicolaus cut their target price on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. UBS Group cut their target price on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Barclays cut their target price on shares of 10x Genomics from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. cut 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, 10x Genomics presently has an average rating of “Hold” and a consensus price target of $20.21.

10x Genomics Trading Up 2.0 %

TXG stock opened at $11.70 on Friday. 10x Genomics has a twelve month low of $9.27 and a twelve month high of $42.85. The company’s 50 day moving average is $13.62 and its two-hundred day moving average is $16.35. The stock has a market cap of $1.43 billion, a P/E ratio of -7.70 and a beta of 1.93.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.40) earnings per share 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, equities research analysts predict that 10x Genomics will post -1.43 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Benjamin J. Hindson sold 4,573 shares of the business’s 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 sale, the insider now directly owns 335,324 shares in the company, valued at $3,712,036.68. The trade was a 1.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alan Mateo acquired 40,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was acquired at an average price of $11.14 per share, for a total transaction of $445,600.00. Following the completion of the transaction, the director now directly owns 61,691 shares in the company, valued at approximately $687,237.74. This represents a 184.41 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Mackenzie Financial Corp boosted its position in shares of 10x Genomics by 69.1% in the 4th quarter. Mackenzie Financial Corp now owns 53,390 shares of the company’s stock worth $767,000 after buying an additional 21,817 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in 10x Genomics in the 4th quarter valued at about $32,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in 10x Genomics by 10.1% in the 4th 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 last quarter. Voloridge Investment Management LLC raised its stake in 10x Genomics by 12.1% in the 4th quarter. Voloridge Investment Management LLC now owns 1,585,965 shares of the company’s stock valued at $22,774,000 after purchasing an additional 171,161 shares during the last quarter. Finally, Twinbeech Capital LP acquired a new position in 10x Genomics in the 4th quarter valued at about $180,000. 84.68% of the stock is currently 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.