10x Genomics (NASDAQ:TXG) Shares Gap Up to $16.99

Shares of 10x Genomics, Inc. (NASDAQ:TXG) gapped up prior to trading on Friday . The stock had previously closed at $16.99, but opened at $17.45. 10x Genomics shares last traded at $17.77, with a volume of 72,784 shares traded.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TXG shares. Deutsche Bank Aktiengesellschaft cut shares of 10x Genomics from a “buy” rating to a “hold” rating and dropped their price target for the stock from $55.00 to $25.00 in a research note on Wednesday. The Goldman Sachs Group dropped their price target on shares of 10x Genomics from $26.00 to $16.00 and set a “sell” rating on the stock in a research note on Tuesday. Guggenheim reiterated a “neutral” rating on shares of 10x Genomics in a research note on Tuesday, June 25th. Bank of America lowered their target price on shares of 10x Genomics from $45.00 to $36.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Finally, Barclays lowered their target price on shares of 10x Genomics from $36.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $41.92.

10x Genomics Trading Up 1.1 %

The company has a market capitalization of $2.05 billion, a PE ratio of -7.62 and a beta of 1.84. The firm’s 50-day simple moving average is $21.91 and its 200-day simple moving average is $34.78.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings data on Tuesday, April 30th. The company reported ($0.50) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.50). 10x Genomics had a negative net margin of 42.20% and a negative return on equity of 30.85%. The company had revenue of $141.01 million during the quarter, compared to analysts’ expectations of $142.24 million. During the same period in the previous year, the company earned ($0.44) EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, analysts anticipate that 10x Genomics, Inc. will post -1.53 EPS for the current year.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, CFO Justin J. Mcanear sold 2,936 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total value of $71,344.80. Following the completion of the sale, the chief financial officer now directly owns 146,203 shares in the company, valued at $3,552,732.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other 10x Genomics news, CEO Serge Saxonov sold 4,877 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total value of $118,511.10. Following the completion of the transaction, the chief executive officer now owns 889,641 shares of the company’s stock, valued at $21,618,276.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Justin J. Mcanear sold 2,936 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total transaction of $71,344.80. Following the completion of 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 disclosure for this sale can be found here. Insiders sold a total of 11,900 shares of company stock worth $289,170 over the last three months. Corporate insiders own 10.03% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TXG. UMB Bank n.a. grew its position in 10x Genomics by 51.6% during the fourth quarter. UMB Bank n.a. now owns 782 shares of the company’s stock valued at $44,000 after buying an additional 266 shares during the period. Van ECK Associates Corp grew its position in 10x Genomics by 23.4% during the fourth quarter. Van ECK Associates Corp now owns 1,908 shares of the company’s stock valued at $107,000 after buying an additional 362 shares during the period. AIA Group Ltd grew its position in 10x Genomics by 0.9% during the fourth quarter. AIA Group Ltd now owns 41,369 shares of the company’s stock valued at $2,315,000 after buying an additional 365 shares during the period. Allspring Global Investments Holdings LLC grew its position in 10x Genomics by 113.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock valued at $26,000 after buying an additional 371 shares during the period. Finally, Treasurer of the State of North Carolina grew its position 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 valued at $2,279,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

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.