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

Weiss Ratings reissued their sell (e+) rating on shares of 10x Genomics (NASDAQ:TXG) in a report issued on Thursday,Weiss Ratings reports.

A number of other equities analysts have also issued reports on the company. Canaccord Genuity Group set a $16.00 price target on 10x Genomics in a research note on Monday. Barclays reissued an “overweight” rating and set a $15.00 price objective (up from $13.00) on shares of 10x Genomics in a research note on Friday, August 8th. Wall Street Zen raised 10x Genomics from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Morgan Stanley reduced their price objective on 10x Genomics from $18.00 to $17.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, The Goldman Sachs Group reduced their price objective on 10x Genomics from $7.50 to $6.50 and set a “sell” rating for the company in a research note on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, 10x Genomics has a consensus rating of “Hold” and an average target price of $13.54.

10x Genomics Stock Performance

Shares of NASDAQ TXG opened at $13.24 on Thursday. The stock has a fifty day moving average price of $12.21 and a two-hundred day moving average price of $10.73. The firm has a market cap of $1.63 billion, a P/E ratio of -18.91 and a beta of 2.03. 10x Genomics has a 1 year low of $6.78 and a 1 year high of $24.76.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.63. The firm had revenue of $172.91 million during the quarter, compared to analyst estimates of $139.36 million. 10x Genomics had a negative return on equity of 12.88% and a negative net margin of 13.13%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period last year, the company posted ($0.32) EPS. On average, research analysts predict that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Insider Activity at 10x Genomics

In related news, insider Benjamin J. Hindson sold 7,485 shares of the business’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 $62,125.50. Following the transaction, the insider directly owned 448,374 shares in the company, valued at $3,721,504.20. The trade was a 1.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Serge Saxonov sold 9,343 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total value of $77,546.90. Following the transaction, the chief executive officer owned 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. Insiders have sold 20,872 shares of company stock worth $173,238 over the last three months. Company insiders own 9.39% of the company’s stock.

Institutional Trading of 10x Genomics

Several institutional investors have recently bought and sold shares of TXG. ARK Investment Management LLC boosted its holdings in shares of 10x Genomics by 8.1% in the 2nd quarter. ARK Investment Management LLC now owns 13,892,103 shares of the company’s stock worth $160,871,000 after acquiring an additional 1,046,390 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of 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 acquiring an additional 184,537 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of 10x Genomics by 235.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,103,768 shares of the company’s stock worth $62,016,000 after acquiring an additional 4,987,195 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of 10x Genomics by 12.2% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,017,963 shares of the company’s stock worth $69,688,000 after acquiring an additional 654,597 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings 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 acquiring an additional 4,371,327 shares in 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.