10x Genomics (NASDAQ:TXG) Shares Down 5.8%

10x Genomics, Inc. (NASDAQ:TXG)’s share price fell 5.8% during trading on Wednesday . The stock traded as low as $20.06 and last traded at $20.08. 792,972 shares were traded during mid-day trading, a decline of 51% from the average session volume of 1,612,750 shares. The stock had previously closed at $21.31.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Leerink Partners started coverage on 10x Genomics in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price target on the stock. Stifel Nicolaus lowered their target price on shares of 10x Genomics from $53.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, July 16th. Leerink Partnrs raised shares of 10x Genomics to a “strong-buy” rating in a research note on Tuesday, September 3rd. Bank of America dropped their price objective on 10x Genomics from $36.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, July 18th. Finally, Stephens restated an “overweight” rating and set a $30.00 price target on shares of 10x Genomics in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $31.60.

10x Genomics Stock Down 5.5 %

The firm has a market cap of $2.43 billion, a P/E ratio of -8.95 and a beta of 1.85. The business’s 50 day moving average is $21.57 and its 200-day moving average is $24.29.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, beating 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 analyst estimates of $150.90 million. As a group, equities analysts predict that 10x Genomics, Inc. will post -1.32 earnings per share for the current year.

Insider Buying and Selling

In other 10x Genomics news, CEO Serge Saxonov sold 6,749 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $152,054.97. Following the transaction, the chief executive officer now owns 882,467 shares of the company’s stock, valued at $19,881,981.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Serge Saxonov sold 6,749 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $152,054.97. Following the transaction, the chief executive officer now directly owns 882,467 shares of the company’s stock, valued at $19,881,981.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Justin J. Mcanear sold 2,961 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $66,711.33. Following the transaction, the chief financial officer now directly owns 143,242 shares in the company, valued at approximately $3,227,242.26. The disclosure for this sale can be found here. Insiders have sold 14,061 shares of company stock worth $316,794 over the last ninety days. 10.03% of the stock is owned by insiders.

Institutional Investors Weigh In On 10x Genomics

Institutional investors and hedge funds have recently bought and sold shares of the business. US Bancorp DE increased its holdings in shares of 10x Genomics by 19.4% in the 4th quarter. US Bancorp DE now owns 15,212 shares of the company’s stock valued at $851,000 after purchasing an additional 2,469 shares during the period. Treasurer of the State of North Carolina lifted its position in 10x Genomics by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 40,717 shares of the company’s stock worth $2,279,000 after buying an additional 400 shares in the last quarter. NEOS Investment Management LLC acquired a new stake in shares of 10x Genomics during the 4th quarter valued at $396,000. Armistice Capital LLC purchased a new position in shares of 10x Genomics during the 4th quarter valued at $5,148,000. Finally, RTW Investments LP increased its stake in shares of 10x Genomics by 2.0% in the fourth quarter. RTW Investments LP now owns 1,549,951 shares of the company’s stock worth $86,735,000 after acquiring an additional 29,995 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

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.