10x Genomics (NASDAQ:TXG) Trading 6.6% Higher

10x Genomics, Inc. (NASDAQ:TXG) traded up 6.6% on Wednesday . The company traded as high as $23.52 and last traded at $22.83. 832,167 shares changed hands during trading, a decline of 49% from the average session volume of 1,623,577 shares. The stock had previously closed at $21.41.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group decreased their price objective on 10x Genomics from $26.00 to $16.00 and set a “sell” rating for the company in a research note on Tuesday, July 9th. Stephens restated an “overweight” rating and set a $30.00 price objective on shares of 10x Genomics in a research note on Wednesday, September 4th. Morgan Stanley decreased their price objective on 10x Genomics from $50.00 to $46.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. Bank of America decreased their price objective on 10x Genomics from $36.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, July 18th. Finally, Leerink Partners began coverage on 10x Genomics in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.60.

10x Genomics Stock Up 3.1 %

The firm has a 50 day moving average price of $20.65 and a 200-day moving average price of $25.54.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.15. 10x Genomics had a negative return on equity of 28.23% and a negative net margin of 37.90%. The firm had revenue of $153.10 million during the quarter, compared to analysts’ expectations of $150.90 million. As a group, research analysts anticipate that 10x Genomics, Inc. will post -1.32 EPS for the current year.

Insider Transactions at 10x Genomics

In other news, CEO Serge Saxonov sold 6,749 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $152,054.97. Following the completion of the transaction, the chief executive officer now directly owns 882,467 shares in the company, valued at $19,881,981.51. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Benjamin J. Hindson sold 4,351 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $98,028.03. Following the sale, the insider now directly owns 345,704 shares of the company’s stock, valued at $7,788,711.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Serge Saxonov sold 6,749 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $152,054.97. Following the sale, the chief executive officer now directly owns 882,467 shares in the company, valued at $19,881,981.51. The disclosure for this sale can be found here. Insiders sold a total of 14,061 shares of company stock worth $316,794 over the last three months. 10.03% of the stock is currently owned by insiders.

Institutional Trading of 10x Genomics

Several institutional investors have recently bought and sold shares of TXG. ARK Investment Management LLC grew its holdings in 10x Genomics by 48.2% in the second quarter. ARK Investment Management LLC now owns 9,313,763 shares of the company’s stock valued at $181,153,000 after purchasing an additional 3,029,951 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in 10x Genomics by 69.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,143,067 shares of the company’s stock valued at $119,483,000 after purchasing an additional 2,521,289 shares during the period. Venrock Management VI LLC acquired a new stake in shares of 10x Genomics in the fourth quarter worth approximately $117,894,000. Nikko Asset Management Americas Inc. boosted its stake in shares of 10x Genomics by 58.6% in the first quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock worth $135,780,000 after acquiring an additional 1,338,248 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of 10x Genomics in the fourth quarter worth approximately $36,262,000. 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.