10x Genomics (NASDAQ:TXG) Shares Up 4.9% – Time to Buy?

10x Genomics, Inc. (NASDAQ:TXG) shares traded up 4.9% during mid-day trading on Tuesday . The company traded as high as $10.16 and last traded at $10.33. 1,564,471 shares were traded during trading, a decline of 40% from the average session volume of 2,623,672 shares. The stock had previously closed at $9.85.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Canaccord Genuity Group decreased their price objective on 10x Genomics from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Citigroup decreased their price objective on 10x Genomics from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday. Weiss Ratings reissued a “sell (e+)” rating on shares of 10x Genomics in a report on Wednesday, February 19th. Stifel Nicolaus decreased their price objective on 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Morgan Stanley decreased their price objective on 10x Genomics from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, 10x Genomics has an average rating of “Hold” and an average price target of $20.21.

10x Genomics Stock Performance

The stock has a market capitalization of $1.29 billion, a P/E ratio of -6.92 and a beta of 1.85. The stock has a 50-day moving average price of $13.90 and a two-hundred day moving average price of $16.67.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data 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%. Equities analysts anticipate that 10x Genomics, Inc. will post -1.43 earnings per share for the current fiscal year.

Insider Activity at 10x Genomics

In other 10x Genomics news, insider Benjamin J. Hindson sold 4,573 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $50,623.11. Following the sale, the insider now directly owns 335,324 shares of the company’s stock, valued at approximately $3,712,036.68. The trade was a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Serge Saxonov sold 5,092 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $56,368.44. Following the completion of the sale, the chief executive officer now directly owns 879,482 shares in the company, valued at $9,735,865.74. This trade represents a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.03% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TXG. Signaturefd LLC raised its stake in shares of 10x Genomics by 424.6% in the fourth quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock worth $26,000 after purchasing an additional 1,452 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of 10x Genomics in the fourth quarter worth $32,000. Capital Performance Advisors LLP purchased a new position in shares of 10x Genomics in the third quarter worth $35,000. Blue Trust Inc. raised its stake in shares of 10x Genomics by 73.1% in the fourth quarter. Blue Trust Inc. now owns 3,075 shares of the company’s stock worth $44,000 after purchasing an additional 1,299 shares during the last quarter. Finally, Sound Income Strategies LLC raised its stake in shares of 10x Genomics by 65.2% in the fourth quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock worth $48,000 after purchasing an additional 1,330 shares during the last quarter. 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.