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

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

A number of other research firms also recently issued reports on TXG. Canaccord Genuity Group dropped their price target on 10x Genomics from $32.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. JPMorgan Chase & Co. dropped their target price on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. UBS Group reduced their price target on 10x Genomics from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Stephens reiterated an “overweight” rating and set a $30.00 price target on shares of 10x Genomics in a research report on Thursday, October 10th. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $23.86.

10x Genomics Stock Performance

Shares of TXG stock opened at $14.45 on Friday. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of -9.44 and a beta of 1.85. 10x Genomics has a fifty-two week low of $12.95 and a fifty-two week high of $51.22. The stock’s 50-day simple moving average is $15.14 and its 200-day simple moving average is $17.72.

Hedge Funds Weigh In On 10x Genomics

Several institutional investors and hedge funds have recently made changes to their positions in TXG. Marshall Wace LLP acquired a new stake in 10x Genomics during the 2nd quarter worth about $689,000. Handelsbanken Fonder AB boosted its stake in shares of 10x Genomics by 17.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 28,200 shares of the company’s stock worth $637,000 after buying an additional 4,100 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of 10x Genomics by 451.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock worth $35,000 after buying an additional 1,265 shares during the last quarter. CWM LLC boosted its stake in shares of 10x Genomics by 444.5% in the 3rd quarter. CWM LLC now owns 22,810 shares of the company’s stock worth $515,000 after buying an additional 18,621 shares during the last quarter. Finally, Sound Income Strategies LLC bought a new stake in shares of 10x Genomics in the 3rd quarter worth approximately $46,000. Institutional investors and hedge funds 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.