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

10x Genomics (NASDAQ:TXG)‘s stock had its “sell (e+)” rating reaffirmed by analysts at Weiss Ratings in a research report issued to clients and investors on Thursday,Weiss Ratings reports.

Several other brokerages have also commented on TXG. JPMorgan Chase & Co. cut their price objective on 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Canaccord Genuity Group cut their price target on 10x Genomics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Morgan Stanley dropped their price objective on shares of 10x Genomics from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. UBS Group reduced their target price on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Finally, Stifel Nicolaus cut 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 report on Thursday, February 13th. One 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $19.79.

10x Genomics Stock Performance

TXG opened at $8.31 on Thursday. The company’s 50-day simple moving average is $9.55 and its two-hundred day simple moving average is $13.19. The stock has a market capitalization of $1.02 billion, a P/E ratio of -5.47 and a beta of 2.01. 10x Genomics has a 52-week low of $6.78 and a 52-week high of $29.37.

10x Genomics (NASDAQ:TXG) last issued 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 net margin of 29.90% and a negative return on equity of 25.40%. Research analysts forecast that 10x Genomics will post -1.43 EPS for the current fiscal year.

Insider Activity at 10x Genomics

In related news, CEO Serge Saxonov sold 5,092 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $11.07, for a total value of $56,368.44. Following the sale, the chief executive officer now owns 879,482 shares in the company, valued at approximately $9,735,865.74. The trade was a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alan Mateo acquired 40,000 shares of the company’s stock in a transaction on Friday, February 21st. The stock was acquired at an average cost of $11.14 per share, with a total value of $445,600.00. Following the completion of the purchase, 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. 10.03% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Signaturefd LLC raised its holdings in 10x Genomics by 424.6% during the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock valued at $26,000 after buying an additional 1,452 shares during the period. GF Fund Management CO. LTD. bought a new position in 10x Genomics during the fourth quarter valued at $32,000. Blue Trust Inc. raised its stake in shares of 10x Genomics by 73.1% in the fourth quarter. Blue Trust Inc. now owns 3,075 shares of the company’s stock valued at $44,000 after acquiring an additional 1,299 shares during the period. Sound Income Strategies LLC lifted its holdings in shares of 10x Genomics by 65.2% in the 4th quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock worth $48,000 after acquiring an additional 1,330 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of 10x Genomics during the 4th quarter worth about $52,000. 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.