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

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

A number of other brokerages have also issued reports on TXG. UBS Group cut their target price on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Morgan Stanley cut their target price on 10x Genomics from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. JPMorgan Chase & Co. cut their target price on 10x Genomics from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Barclays cut their target price on 10x Genomics from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Finally, Canaccord Genuity Group cut their target price on 10x Genomics from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.57.

10x Genomics Stock Performance

TXG opened at $11.56 on Wednesday. 10x Genomics has a one year low of $10.80 and a one year high of $48.42. The stock has a market capitalization of $1.40 billion, a PE ratio of -7.61 and a beta of 1.85. The business’s 50 day moving average price is $14.37 and its 200 day moving average price is $17.15.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.08). 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. As a group, equities research analysts forecast that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. KBC Group NV raised its holdings in 10x Genomics by 38.8% during the third quarter. KBC Group NV now owns 3,225 shares of the company’s stock worth $73,000 after purchasing an additional 902 shares in the last quarter. Atria Wealth Solutions Inc. increased its holdings in 10x Genomics by 9.6% in the fourth quarter. Atria Wealth Solutions Inc. now owns 10,788 shares of the company’s stock valued at $155,000 after buying an additional 943 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in 10x Genomics by 53.3% in the third quarter. First Horizon Advisors Inc. now owns 2,910 shares of the company’s stock valued at $66,000 after buying an additional 1,012 shares in the last quarter. Blue Trust Inc. increased its holdings in 10x Genomics by 136.5% in the third 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 in the last quarter. Finally, Sound Income Strategies LLC increased its holdings in 10x Genomics by 65.2% in the fourth quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock valued at $48,000 after buying an additional 1,330 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

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.