Alan Mateo Buys 40,000 Shares of 10x Genomics, Inc. (NASDAQ:TXG) Stock

10x Genomics, Inc. (NASDAQ:TXG) Director Alan Mateo purchased 40,000 shares of 10x Genomics stock in a transaction on Friday, February 21st. The stock was bought at an average price of $11.14 per share, for a total transaction of $445,600.00. Following the transaction, the director now directly owns 61,691 shares in the company, valued at approximately $687,237.74. The trade was a 184.41 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

10x Genomics Trading Up 4.9 %

Shares of TXG stock opened at $11.65 on Thursday. The firm has a fifty day simple moving average of $14.13 and a two-hundred day simple moving average of $16.92. 10x Genomics, Inc. has a 12 month low of $10.63 and a 12 month high of $48.42. The firm has a market capitalization of $1.42 billion, a PE ratio of -7.66 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.08). 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. On average, equities analysts predict that 10x Genomics, Inc. will post -1.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TXG. RA Capital Management L.P. bought a new stake in 10x Genomics during the fourth quarter worth $47,092,000. Assenagon Asset Management S.A. bought a new stake in shares of 10x Genomics in the 4th quarter worth $26,308,000. ARK Investment Management LLC raised its holdings in shares of 10x Genomics by 15.4% in the third quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company’s stock valued at $242,743,000 after purchasing an additional 1,436,582 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of 10x Genomics during the third quarter valued at about $27,778,000. Finally, D. E. Shaw & Co. Inc. purchased a new position in 10x Genomics during the fourth quarter worth about $17,499,000. Institutional investors own 84.68% of the company’s stock.

Analysts Set New Price Targets

TXG has been the topic of a number of recent analyst reports. Citigroup cut their price objective on 10x Genomics from $23.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Leerink Partnrs downgraded shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 13th. Leerink Partners cut shares of 10x Genomics from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $25.00 to $12.00 in a research report on Thursday, February 13th. JPMorgan Chase & Co. dropped their target price on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.57.

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.