10x Genomics (NASDAQ:TXG) Shares Up 3.7%

10x Genomics, Inc. (NASDAQ:TXG)’s stock price shot up 3.7% during trading on Tuesday . The company traded as high as $19.32 and last traded at $19.28. 215,265 shares were traded during mid-day trading, a decline of 86% from the average session volume of 1,518,828 shares. The stock had previously closed at $18.59.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TXG. Bank of America dropped their price objective on shares of 10x Genomics from $45.00 to $36.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Barclays dropped their price objective on shares of 10x Genomics from $36.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, June 28th. Jefferies Financial Group began coverage on shares of 10x Genomics in a research note on Monday, June 3rd. They issued a “hold” rating and a $24.00 price objective for the company. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of 10x Genomics from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Finally, Stifel Nicolaus dropped their price target on shares of 10x Genomics from $63.00 to $53.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, 10x Genomics presently has a consensus rating of “Hold” and an average price target of $45.00.

10x Genomics Trading Down 0.6 %

The company has a market capitalization of $2.23 billion, a PE ratio of -8.41 and a beta of 1.84. The firm’s 50-day simple moving average is $23.08 and its 200-day simple moving average is $36.22.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings data on Tuesday, April 30th. The company reported ($0.50) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.50). The company had revenue of $141.01 million during the quarter, compared to analysts’ expectations of $142.24 million. 10x Genomics had a negative net margin of 42.20% and a negative return on equity of 30.85%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.44) EPS. As a group, analysts anticipate that 10x Genomics, Inc. will post -1.53 EPS for the current year.

Insider Buying and Selling at 10x Genomics

In other news, CEO Serge Saxonov sold 4,877 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total value of $118,511.10. Following the completion of the sale, the chief executive officer now owns 889,641 shares in the company, valued at approximately $21,618,276.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Serge Saxonov sold 4,877 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total value of $118,511.10. Following the completion of the sale, the chief executive officer now owns 889,641 shares in the company, valued at approximately $21,618,276.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Benjamin J. Hindson sold 4,087 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total transaction of $99,314.10. Following the completion of the sale, the insider now owns 350,055 shares of the company’s stock, valued at approximately $8,506,336.50. The disclosure for this sale can be found here. Insiders sold a total of 11,900 shares of company stock valued at $289,170 in the last three months. Company insiders own 10.03% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in shares of 10x Genomics by 113.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock worth $26,000 after acquiring an additional 371 shares in the last quarter. Covestor Ltd raised its stake in shares of 10x Genomics by 501.7% during the 1st quarter. Covestor Ltd now owns 1,047 shares of the company’s stock worth $39,000 after acquiring an additional 873 shares in the last quarter. UMB Bank n.a. raised its stake in shares of 10x Genomics by 51.6% during the 4th quarter. UMB Bank n.a. now owns 782 shares of the company’s stock worth $44,000 after acquiring an additional 266 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of 10x Genomics during the 4th quarter worth approximately $66,000. Finally, Headlands Technologies LLC bought a new position in shares of 10x Genomics during the 1st quarter worth approximately $71,000. Institutional investors 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.