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

Shares of 10x Genomics, Inc. (NASDAQ:TXG) traded up 6.4% on Tuesday . The stock traded as high as $19.27 and last traded at $19.26. 975,585 shares were traded during trading, a decline of 40% from the average session volume of 1,638,354 shares. The stock had previously closed at $18.11.

Wall Street Analysts Forecast Growth

TXG has been the topic of a number of recent research reports. Bank of America reduced their price target on shares of 10x Genomics from $36.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, July 18th. TD Cowen downgraded shares of 10x Genomics from a “buy” rating to a “hold” rating and reduced their price target for the stock from $57.00 to $32.00 in a research report on Wednesday, May 1st. JPMorgan Chase & Co. downgraded shares of 10x Genomics from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $40.00 to $20.00 in a research report on Thursday, July 18th. Barclays reduced their price target on shares of 10x Genomics from $36.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, June 28th. Finally, Guggenheim restated a “neutral” rating on shares of 10x Genomics in a research report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $36.29.

10x Genomics Price Performance

The stock’s fifty day moving average price is $20.31 and its 200-day moving average price is $32.25. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of -8.93 and a beta of 1.84.

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

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, insider Benjamin J. Hindson sold 4,087 shares of the company’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 $99,314.10. Following the transaction, the insider now owns 350,055 shares in the company, valued at approximately $8,506,336.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other 10x Genomics news, CEO Serge Saxonov sold 4,877 shares of the business’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 $118,511.10. Following the completion of the sale, the chief executive officer now directly owns 889,641 shares of the company’s stock, valued at $21,618,276.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benjamin J. Hindson sold 4,087 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 transaction of $99,314.10. Following the sale, the insider now directly owns 350,055 shares of the company’s stock, valued at $8,506,336.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,900 shares of company stock worth $289,170. 10.03% of the stock is currently owned by company insiders.

Institutional Trading of 10x Genomics

Large investors have recently modified their holdings of the company. UMB Bank n.a. raised its stake 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 purchasing an additional 266 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of 10x Genomics by 23.4% in the 4th 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 in the last quarter. AIA Group Ltd raised its stake in shares of 10x Genomics by 0.9% in the 4th 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 in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of 10x Genomics by 113.5% in the 1st 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 in the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in shares of 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 valued at $2,279,000 after buying an additional 400 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

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.