10x Genomics, Inc. (NASDAQ:TXG) Sees Significant Decline in Short Interest

10x Genomics, Inc. (NASDAQ:TXG) was the target of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 7,810,000 shares, a decline of 12.6% from the August 31st total of 8,940,000 shares. Based on an average daily trading volume, of 1,850,000 shares, the days-to-cover ratio is presently 4.2 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TXG shares. The Goldman Sachs Group reduced their price objective on shares of 10x Genomics from $26.00 to $16.00 and set a “sell” rating for the company in a research report on Tuesday, July 9th. Leerink Partners started coverage on 10x Genomics in a report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price objective on the stock. UBS Group reduced their target price on 10x Genomics from $30.00 to $25.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Guggenheim reaffirmed a “neutral” rating on shares of 10x Genomics in a research note on Tuesday, June 25th. Finally, Canaccord Genuity Group cut their price target on shares of 10x Genomics from $50.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, 10x Genomics presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.60.

10x Genomics Trading Up 1.7 %

Shares of TXG opened at $22.67 on Friday. 10x Genomics has a twelve month low of $15.28 and a twelve month high of $57.90. The firm has a market capitalization of $2.73 billion, a P/E ratio of -10.17 and a beta of 1.85. The stock’s fifty day simple moving average is $21.43 and its 200 day simple moving average is $24.59.

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

Insider Transactions at 10x Genomics

In related news, CFO Justin J. Mcanear sold 2,961 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $66,711.33. Following the transaction, the chief financial officer now directly owns 143,242 shares of the company’s stock, valued at approximately $3,227,242.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Justin J. Mcanear sold 2,961 shares of 10x Genomics stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $66,711.33. Following the transaction, the chief financial officer now directly owns 143,242 shares of the company’s stock, valued at approximately $3,227,242.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benjamin J. Hindson sold 4,351 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $98,028.03. Following the completion of the sale, the insider now owns 345,704 shares of the company’s stock, valued at approximately $7,788,711.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,061 shares of company stock worth $316,794. 10.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On 10x Genomics

Several large investors have recently made changes to their positions in the business. Algert Global LLC boosted its position in shares of 10x Genomics by 39.4% in the second quarter. Algert Global LLC now owns 117,964 shares of the company’s stock worth $2,294,000 after buying an additional 33,364 shares during the period. Susquehanna Fundamental Investments LLC boosted its holdings in 10x Genomics by 166.7% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 201,671 shares of the company’s stock worth $3,923,000 after acquiring an additional 126,052 shares during the period. Deerfield Management Company L.P. Series C acquired a new stake in 10x Genomics in the second quarter valued at approximately $11,612,000. AQR Capital Management LLC raised its stake in shares of 10x Genomics by 230.9% during the second quarter. AQR Capital Management LLC now owns 315,180 shares of the company’s stock valued at $6,130,000 after purchasing an additional 219,945 shares during the period. Finally, Squarepoint Ops LLC raised its stake in shares of 10x Genomics by 1.1% during the second quarter. Squarepoint Ops LLC now owns 515,883 shares of the company’s stock valued at $10,034,000 after purchasing an additional 5,720 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.