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 issued on Saturday morning,Weiss Ratings reports.

A number of other equities research analysts also recently issued reports on the company. Morgan Stanley cut their price target on 10x Genomics from $30.00 to $28.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. The Goldman Sachs Group reduced their target price on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. dropped their price target on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. UBS Group reduced their price objective on 10x Genomics from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Finally, Citigroup lowered their target price on 10x Genomics from $35.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.86.

10x Genomics Stock Performance

Shares of TXG traded down $0.01 during mid-day trading on Friday, hitting $15.08. 1,324,480 shares of the company traded hands, compared to its average volume of 1,475,648. 10x Genomics has a 1 year low of $12.95 and a 1 year high of $51.22. The stock has a 50-day moving average price of $14.96 and a two-hundred day moving average price of $17.95. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of -9.86 and a beta of 1.83.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. The business had revenue of $151.65 million during the quarter, compared to analyst estimates of $158.84 million. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.51) EPS. On average, analysts forecast that 10x Genomics will post -1.43 EPS for the current year.

Hedge Funds Weigh In On 10x Genomics

Several institutional investors have recently bought and sold shares of TXG. FMR LLC grew its holdings in 10x Genomics by 2.7% during the 3rd quarter. FMR LLC now owns 13,367,979 shares of the company’s stock valued at $301,849,000 after buying an additional 357,470 shares in the last quarter. ARK Investment Management LLC boosted its position in shares of 10x Genomics by 15.4% during the 3rd quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company’s stock valued at $242,743,000 after acquiring an additional 1,436,582 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of 10x Genomics by 3.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,373,212 shares of the company’s stock valued at $143,907,000 after purchasing an additional 230,145 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in 10x Genomics in the fourth quarter worth $26,308,000. Finally, Geode Capital Management LLC raised its stake in 10x Genomics by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company’s stock valued at $41,009,000 after purchasing an additional 42,777 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

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.