10x Genomics (NASDAQ:TXG) Receives “Sell (E+)” Rating from Weiss Ratings

10x Genomics (NASDAQ:TXG)‘s stock had its “sell (e+)” rating restated by stock analysts at Weiss Ratings in a research note issued on Saturday,Weiss Ratings reports.

A number of other research firms have also weighed in on TXG. JPMorgan Chase & Co. dropped their price target on shares of 10x Genomics from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday. UBS Group dropped their target price on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Barclays lowered their price objective on shares of 10x Genomics from $15.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Leerink Partnrs lowered shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 13th. Finally, Citigroup lowered their price objective on shares of 10x Genomics from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $18.62.

10x Genomics Stock Performance

Shares of NASDAQ TXG opened at $8.87 on Friday. The firm’s 50 day moving average price is $8.95 and its 200-day moving average price is $12.54. The company has a market cap of $1.08 billion, a PE ratio of -5.84 and a beta of 1.94. 10x Genomics has a 52-week low of $6.78 and a 52-week high of $28.25.

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 the consensus estimate 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%. On average, analysts forecast that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Alan Mateo bought 40,000 shares of the stock in a transaction that occurred on 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 directly owns 61,691 shares of the company’s stock, valued at approximately $687,237.74. This trade represents a 184.41% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Serge Saxonov sold 5,092 shares of 10x Genomics stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $11.07, for a total transaction of $56,368.44. Following the completion of the sale, the chief executive officer now owns 879,482 shares of the company’s stock, valued at $9,735,865.74. This trade represents a 0.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.39% of the company’s stock.

Institutional Trading of 10x Genomics

A number of institutional investors have recently bought and sold shares of the stock. Chicago Partners Investment Group LLC acquired a new stake in 10x Genomics in the 1st quarter worth approximately $119,000. Charles Schwab Investment Management Inc. boosted its stake in 10x Genomics by 20.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 648,410 shares of the company’s stock worth $5,661,000 after purchasing an additional 108,744 shares in the last quarter. Vanguard Group Inc. boosted its stake in 10x Genomics by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 11,118,086 shares of the company’s stock worth $97,061,000 after purchasing an additional 184,537 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in 10x Genomics by 98.0% in the 1st quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 104,512 shares of the company’s stock worth $912,000 after purchasing an additional 51,725 shares in the last quarter. Finally, ING Groep NV boosted its stake in 10x Genomics by 154.4% in the 1st quarter. ING Groep NV now owns 191,800 shares of the company’s stock worth $1,674,000 after purchasing an additional 116,400 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

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.