10x Genomics (NASDAQ:TXG) Stock Price Up 3.5%

Shares of 10x Genomics, Inc. (NASDAQ:TXG) were up 3.5% during mid-day trading on Tuesday . The stock traded as high as $24.76 and last traded at $24.17. Approximately 244,467 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 1,650,879 shares. The stock had previously closed at $23.35.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TXG shares. JPMorgan Chase & Co. lowered shares of 10x Genomics from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $40.00 to $20.00 in a research note on Thursday, July 18th. 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 note on Tuesday, July 9th. Stifel Nicolaus dropped their target price on shares of 10x Genomics from $53.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, July 16th. Jefferies Financial Group upgraded shares of 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Monday, July 22nd. Finally, Wolfe Research reiterated a “peer perform” rating on shares of 10x Genomics in a report on Thursday, June 27th. One equities 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.60.

10x Genomics Price Performance

The stock has a market capitalization of $2.79 billion, a P/E ratio of -10.26 and a beta of 1.85. The company’s 50 day simple moving average is $20.08 and its two-hundred day simple moving average is $27.23.

10x Genomics (NASDAQ:TXG) last posted 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. 10x Genomics had a negative return on equity of 28.23% and a negative net margin of 37.90%. The company had revenue of $153.10 million for the quarter, compared to analyst estimates of $150.90 million. On average, research analysts anticipate that 10x Genomics, Inc. will post -1.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 10x Genomics news, CFO Justin J. Mcanear sold 2,961 shares of the business’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 $66,711.33. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Serge Saxonov sold 6,749 shares of the company’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 sale, the chief executive officer now directly owns 882,467 shares of the company’s stock, valued at approximately $19,881,981.51. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Justin J. Mcanear sold 2,961 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 143,242 shares of the company’s stock, valued at $3,227,242.26. The disclosure for this sale can be found here. In the last three months, insiders sold 14,061 shares of company stock valued at $316,794. 10.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TXG. Van ECK Associates Corp boosted its holdings in 10x Genomics by 23.4% during the fourth quarter. Van ECK Associates Corp now owns 1,908 shares of the company’s stock worth $107,000 after purchasing an additional 362 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in 10x Genomics by 113.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock worth $26,000 after purchasing an additional 371 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in 10x Genomics by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 40,717 shares of the company’s stock worth $2,279,000 after purchasing an additional 400 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in 10x Genomics by 74.1% during the second quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock worth $37,000 after purchasing an additional 808 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in 10x Genomics by 501.7% during the first quarter. Covestor Ltd now owns 1,047 shares of the company’s stock worth $39,000 after purchasing an additional 873 shares during the last quarter. 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.