Weiss Ratings Reaffirms Sell (E+) Rating for 10x Genomics (NASDAQ:TXG)

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

Several other equities research analysts also recently weighed in on TXG. Morgan Stanley dropped their target price on shares of 10x Genomics from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Leerink Partnrs downgraded shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 13th. UBS Group lowered their price objective 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 $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Finally, Stifel Nicolaus lowered their price objective on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.57.

10x Genomics Price Performance

10x Genomics stock opened at $11.56 on Wednesday. The firm’s fifty day moving average price is $14.37 and its 200 day moving average price is $17.15. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -7.61 and a beta of 1.85. 10x Genomics has a 12-month low of $10.80 and a 12-month high of $48.42.

10x Genomics (NASDAQ:TXG) last released its earnings results 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 return on equity of 25.40% and a negative net margin of 29.90%. Analysts forecast that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in 10x Genomics in the 3rd quarter valued at $35,000. Blue Trust Inc. grew its stake in 10x Genomics by 136.5% in the 3rd quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock valued at $40,000 after buying an additional 1,025 shares during the last quarter. Signaturefd LLC grew its stake in 10x Genomics by 424.6% in the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock valued at $26,000 after buying an additional 1,452 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in 10x Genomics in the 4th quarter worth $32,000. Finally, Venturi Wealth Management LLC grew its position in 10x Genomics by 1,108.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,442 shares of the company’s stock worth $55,000 after purchasing an additional 2,240 shares during 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.