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

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

Several other equities research analysts have also commented on TXG. Canaccord Genuity Group lowered their price target on shares of 10x Genomics from $32.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. The Goldman Sachs Group reduced their price target on 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lowered their price objective on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. UBS Group dropped their target price on 10x Genomics from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Finally, Citigroup reduced their target price on 10x Genomics from $35.00 to $23.00 and set a “buy” rating for the company in a research note 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $23.86.

10x Genomics Trading Down 0.1 %

TXG opened at $15.08 on Friday. 10x Genomics has a 12-month low of $12.95 and a 12-month high of $51.22. The business’s fifty day simple moving average is $14.96 and its 200-day simple moving average is $17.95. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of -9.86 and a beta of 1.83.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.04. The firm had revenue of $151.65 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned ($0.51) EPS. On average, equities research analysts predict that 10x Genomics will post -1.43 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TXG. JPMorgan Chase & Co. raised its position in shares of 10x Genomics by 355.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 355,488 shares of the company’s stock valued at $8,027,000 after acquiring an additional 277,355 shares in the last quarter. Lecap Asset Management Ltd. bought a new position in shares of 10x Genomics in the 3rd quarter worth about $877,000. Geode Capital Management LLC boosted its stake in 10x Genomics by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company’s stock valued at $41,009,000 after acquiring an additional 42,777 shares during the period. Marshall Wace LLP acquired a new position in 10x Genomics during the 2nd quarter valued at approximately $689,000. Finally, Point72 Asset Management L.P. bought a new position in shares of 10x Genomics during the third quarter worth about $27,778,000. 84.68% of the stock is owned by institutional investors and hedge funds.

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.