10x Genomics (NASDAQ:TXG) Given Sell (E+) Rating at Weiss Ratings

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

A number of other analysts have also recently issued reports on the company. Stifel Nicolaus decreased their target price on 10x Genomics from $21.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Canaccord Genuity Group decreased their target price on 10x Genomics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Morgan Stanley decreased their target price on 10x Genomics from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, February 14th. UBS Group decreased their target price on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Finally, Leerink Partnrs cut 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, 10x Genomics currently has an average rating of “Hold” and a consensus target price of $20.21.

10x Genomics Price Performance

NASDAQ TXG opened at $11.70 on Friday. 10x Genomics has a 12 month low of $9.27 and a 12 month high of $42.85. The company has a 50-day moving average of $13.62 and a 200-day moving average of $16.35. The company 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 posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.40) EPS 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%. As a group, equities research analysts anticipate that 10x Genomics will post -1.43 EPS for the current year.

Insider Activity

In other 10x Genomics news, Director Alan Mateo bought 40,000 shares of 10x Genomics stock in a transaction dated Friday, February 21st. The stock was bought at an average cost of $11.14 per share, for a total transaction of $445,600.00. Following the purchase, the director now owns 61,691 shares in the company, valued at $687,237.74. This represents a 184.41 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Benjamin J. Hindson sold 4,573 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $11.07, for a total value of $50,623.11. Following the transaction, 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. Company insiders own 10.03% of the company’s stock.

Hedge Funds Weigh In On 10x Genomics

A number of hedge funds have recently added to or reduced their stakes in TXG. RA Capital Management L.P. acquired a new position in 10x Genomics in the fourth quarter worth $47,092,000. Assenagon Asset Management S.A. acquired a new position in 10x Genomics in the fourth quarter worth $26,308,000. Point72 Asset Management L.P. acquired a new position in 10x Genomics in the third quarter worth $27,778,000. D. E. Shaw & Co. Inc. acquired a new position in 10x Genomics in the fourth quarter worth $17,499,000. Finally, ARK Investment Management LLC boosted its holdings in 10x Genomics by 11.1% in the fourth quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock worth $171,517,000 after purchasing an additional 1,193,712 shares during the period. Institutional investors and hedge funds 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.