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

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

A number of other equities analysts have also weighed in on TXG. Leerink Partners lowered shares of 10x Genomics from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $25.00 to $12.00 in a research report on Thursday, February 13th. Wall Street Zen raised shares of 10x Genomics from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. Stephens reissued an “overweight” rating and issued a $14.00 price objective on shares of 10x Genomics in a research note on Thursday, May 15th. Citigroup reduced their target price on 10x Genomics from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Finally, Canaccord Genuity Group lowered their price target on shares of 10x Genomics from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, 10x Genomics has an average rating of “Hold” and a consensus target price of $15.81.

10x Genomics Trading Down 1.6%

Shares of 10x Genomics stock opened at $10.41 on Wednesday. 10x Genomics has a 12-month low of $6.78 and a 12-month high of $24.76. The company’s fifty day simple moving average is $8.75 and its two-hundred day simple moving average is $11.56. The company has a market cap of $1.28 billion, a P/E ratio of -6.85 and a beta of 1.99.

10x Genomics (NASDAQ:TXG) last released its earnings results on Thursday, May 8th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.09. 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. The firm had revenue of $154.88 million for the quarter, compared to analysts’ expectations of $131.91 million. During the same period in the prior year, the firm posted ($0.50) earnings per share. The company’s quarterly revenue was down 2.3% on a year-over-year basis. Analysts predict that 10x Genomics will post -1.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other 10x Genomics news, insider Benjamin J. Hindson sold 7,485 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $8.30, for a total transaction of $62,125.50. Following the sale, the insider now owns 448,374 shares in the company, valued at approximately $3,721,504.20. This represents a 1.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Serge Saxonov sold 9,343 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $8.30, for a total transaction of $77,546.90. Following the sale, the chief executive officer now directly owns 1,083,625 shares in the company, valued at $8,994,087.50. This represents a 0.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,872 shares of company stock valued at $173,238. 9.39% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TXG. FMR LLC lifted its position in shares of 10x Genomics by 0.6% during the fourth quarter. FMR LLC now owns 13,454,434 shares of the company’s stock worth $193,206,000 after purchasing an additional 86,455 shares in the last quarter. ARK Investment Management LLC increased its stake in shares of 10x Genomics by 7.5% in the first quarter. ARK Investment Management LLC now owns 12,845,713 shares of the company’s stock valued at $112,143,000 after purchasing an additional 901,656 shares during the period. Vanguard Group Inc. increased its holdings in shares of 10x Genomics by 1.7% during the first quarter. Vanguard Group Inc. now owns 11,118,086 shares of the company’s stock valued at $97,061,000 after purchasing an additional 184,537 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of 10x Genomics by 235.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,103,768 shares of the company’s stock valued at $62,016,000 after acquiring an additional 4,987,195 shares during the period. Finally, Millennium Management LLC grew its stake in shares of 10x Genomics by 434.5% in the 1st quarter. Millennium Management LLC now owns 5,377,492 shares of the company’s stock worth $46,946,000 after purchasing an additional 4,371,327 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

10x Genomics Company Profile

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.