10x Genomics’ (TXG) “Sell (E+)” Rating Reiterated at Weiss Ratings

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

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. dropped their target price on 10x Genomics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Citigroup reduced their price objective on 10x Genomics from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Wall Street Zen upgraded 10x Genomics from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. UBS Group cut their price target on 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Finally, The Goldman Sachs Group cut 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, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, 10x Genomics currently has a consensus rating of “Hold” and a consensus target price of $15.81.

10x Genomics Stock Performance

NASDAQ:TXG opened at $8.17 on Friday. The stock has a 50-day simple moving average of $8.54 and a two-hundred day simple moving average of $11.97. 10x Genomics has a 52-week low of $6.78 and a 52-week high of $24.76. The firm has a market capitalization of $1.01 billion, a PE ratio of -5.38 and a beta of 1.94.

10x Genomics (NASDAQ:TXG) last posted 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. The company had revenue of $154.88 million for the quarter, compared to the consensus estimate of $131.91 million. 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.50) earnings per share. Equities analysts forecast that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Institutional Trading of 10x Genomics

A number of large investors have recently modified their holdings of TXG. Barclays PLC increased its position in shares of 10x Genomics by 11.7% during the third quarter. Barclays PLC now owns 602,536 shares of the company’s stock worth $13,605,000 after acquiring an additional 63,079 shares during the period. Nisa Investment Advisors LLC purchased a new stake in shares of 10x Genomics during the fourth quarter worth $237,000. SG Americas Securities LLC increased its position in shares of 10x Genomics by 209.8% during the fourth quarter. SG Americas Securities LLC now owns 73,046 shares of the company’s stock worth $1,049,000 after acquiring an additional 49,468 shares during the period. Blue Trust Inc. increased its position in shares of 10x Genomics by 73.1% during the fourth quarter. Blue Trust Inc. now owns 3,075 shares of the company’s stock worth $44,000 after acquiring an additional 1,299 shares during the period. Finally, KBC Group NV increased its holdings in 10x Genomics by 57.3% in the fourth quarter. KBC Group NV now owns 5,072 shares of the company’s stock valued at $73,000 after buying an additional 1,847 shares during the last quarter. Hedge funds and other 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.