10x Genomics, Inc. (NASDAQ:TXG) Short Interest Up 21.6% in February

10x Genomics, Inc. (NASDAQ:TXG) was the target of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 13,770,000 shares, a growth of 21.6% from the February 13th total of 11,320,000 shares. Approximately 12.6% of the shares of the company are sold short. Based on an average daily volume of 2,480,000 shares, the days-to-cover ratio is currently 5.6 days.

10x Genomics Price Performance

Shares of NASDAQ:TXG opened at $10.51 on Wednesday. The company has a market capitalization of $1.29 billion, a PE ratio of -6.91 and a beta of 1.93. The business has a fifty day moving average price of $13.01 and a two-hundred day moving average price of $15.75. 10x Genomics has a 1 year low of $9.27 and a 1 year high of $39.30.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.08). 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. Sell-side analysts anticipate that 10x Genomics will post -1.43 earnings per share for the current year.

Wall Street Analyst Weigh In

TXG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on 10x Genomics from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Leerink Partnrs cut 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 13th. UBS Group reduced their target price on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Citigroup dropped their price target on 10x Genomics from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Finally, Morgan Stanley dropped their price target on 10x Genomics from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.21.

Insider Buying and Selling at 10x Genomics

In other news, Director Alan Mateo bought 40,000 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was bought at an average price of $11.14 per share, with a total value of $445,600.00. Following the completion of the acquisition, the director now owns 61,691 shares of the company’s stock, valued at $687,237.74. This represents a 184.41 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Serge Saxonov sold 5,092 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $11.07, for a total value of $56,368.44. Following the completion of the transaction, the chief executive officer now directly owns 879,482 shares of the company’s stock, valued at approximately $9,735,865.74. This trade represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders own 10.03% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Signaturefd LLC lifted its holdings in 10x Genomics by 424.6% during the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock worth $26,000 after purchasing an additional 1,452 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of 10x Genomics during the 4th quarter valued at about $32,000. First Horizon Advisors Inc. raised its holdings in shares of 10x Genomics by 53.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 2,910 shares of the company’s stock valued at $66,000 after buying an additional 1,012 shares in the last quarter. Blue Trust Inc. grew its position in 10x Genomics by 73.1% during the 4th quarter. Blue Trust Inc. now owns 3,075 shares of the company’s stock worth $44,000 after acquiring an additional 1,299 shares during the last quarter. Finally, KBC Group NV grew its position in 10x Genomics by 38.8% during the 3rd quarter. KBC Group NV now owns 3,225 shares of the company’s stock worth $73,000 after acquiring an additional 902 shares during the last quarter. 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.