10x Genomics (NASDAQ:TXG) Stock Price Up 3.7%

10x Genomics, Inc. (NASDAQ:TXG) rose 3.7% on Tuesday . The stock traded as high as $19.32 and last traded at $19.28. Approximately 215,265 shares traded hands during trading, a decline of 86% from the average daily volume of 1,518,828 shares. The stock had previously closed at $18.59.

Analyst Ratings Changes

Several equities analysts have recently commented on TXG shares. Stifel Nicolaus lowered their price objective on 10x Genomics from $63.00 to $53.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. The Goldman Sachs Group reduced their target price on 10x Genomics from $30.00 to $26.00 and set a “sell” rating on the stock in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft reduced their target price on 10x Genomics from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Guggenheim reaffirmed a “neutral” rating on shares of 10x Genomics in a report on Tuesday, June 25th. Finally, Canaccord Genuity Group reduced their target price on 10x Genomics from $65.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, 10x Genomics has an average rating of “Hold” and an average price target of $45.00.

10x Genomics Stock Performance

The business has a fifty day simple moving average of $23.43 and a two-hundred day simple moving average of $36.59.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Tuesday, April 30th. The company reported ($0.50) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.50). The company had revenue of $141.01 million during the quarter, compared to analyst estimates of $142.24 million. 10x Genomics had a negative return on equity of 30.85% and a negative net margin of 42.20%. 10x Genomics’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.44) earnings per share. As a group, equities analysts forecast that 10x Genomics, Inc. will post -1.53 EPS for the current year.

Insider Activity

In related news, CFO Justin J. Mcanear sold 2,936 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $71,344.80. Following the transaction, the chief financial officer now directly owns 146,203 shares of the company’s stock, valued at approximately $3,552,732.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Serge Saxonov sold 4,877 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total transaction of $118,511.10. Following the sale, the chief executive officer now directly owns 889,641 shares of the company’s stock, valued at approximately $21,618,276.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Justin J. Mcanear sold 2,936 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total transaction of $71,344.80. Following the sale, the chief financial officer now directly owns 146,203 shares in the company, valued at $3,552,732.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,900 shares of company stock worth $289,170. Insiders own 10.03% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in 10x Genomics by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,101,536 shares of the company’s stock worth $341,581,000 after purchasing an additional 90,204 shares in the last quarter. ARK Investment Management LLC lifted its stake in 10x Genomics by 35.0% in the 4th quarter. ARK Investment Management LLC now owns 4,041,287 shares of the company’s stock worth $226,150,000 after purchasing an additional 1,047,827 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in 10x Genomics by 17.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,657,227 shares of the company’s stock worth $137,257,000 after purchasing an additional 553,053 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in 10x Genomics by 58.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,621,778 shares of the company’s stock worth $135,925,000 after purchasing an additional 1,338,248 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. increased its holdings in shares of 10x Genomics by 58.6% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock worth $135,780,000 after buying an additional 1,338,248 shares during 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.