10x Genomics (NASDAQ:TXG) Trading 6.4% Higher

10x Genomics, Inc. (NASDAQ:TXG) was up 6.4% during mid-day trading on Tuesday . The company traded as high as $19.27 and last traded at $19.26. Approximately 975,585 shares changed hands during trading, a decline of 40% from the average daily volume of 1,638,354 shares. The stock had previously closed at $18.11.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut shares of 10x Genomics from a “buy” rating to a “hold” rating and decreased their price objective for the company from $55.00 to $25.00 in a report on Wednesday, July 10th. TD Cowen cut 10x Genomics from a “buy” rating to a “hold” rating and lowered their price target for the company from $57.00 to $32.00 in a report on Wednesday, May 1st. Jefferies Financial Group upgraded 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Monday. Barclays reduced their price objective on 10x Genomics from $36.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, June 28th. Finally, Guggenheim reissued a “neutral” rating on shares of 10x Genomics in a research report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.29.

10x Genomics Stock Up 4.7 %

The stock has a market capitalization of $2.26 billion, a PE ratio of -8.64 and a beta of 1.84. The stock’s 50 day moving average price is $20.72 and its 200-day moving average price is $32.66.

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

Insider Buying and Selling

In other news, CEO Serge Saxonov sold 4,877 shares of 10x Genomics stock in a transaction that occurred on 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 owns 889,641 shares in the company, valued at $21,618,276.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Serge Saxonov sold 4,877 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total transaction of $118,511.10. Following the completion of the transaction, the chief executive officer now owns 889,641 shares in the company, valued at $21,618,276.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Benjamin J. Hindson sold 4,087 shares of 10x Genomics stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $99,314.10. Following the completion of the sale, the insider now directly owns 350,055 shares in the company, valued at approximately $8,506,336.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,900 shares of company stock valued at $289,170. Corporate insiders own 10.03% of the company’s stock.

Hedge Funds Weigh In On 10x Genomics

Several institutional investors have recently bought and sold shares of TXG. Allspring Global Investments Holdings LLC raised 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 purchasing an additional 371 shares during the period. UMB Bank n.a. raised its holdings in 10x Genomics by 51.6% during the 4th 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. Covestor Ltd raised its holdings in 10x Genomics by 501.7% during the 1st quarter. Covestor Ltd now owns 1,047 shares of the company’s stock valued at $39,000 after buying an additional 873 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in 10x Genomics during the 4th quarter valued at $66,000. Finally, Headlands Technologies LLC purchased a new position in 10x Genomics during the first quarter worth $71,000. 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.