10x Genomics, Inc. (NASDAQ:TXG - Get Free Report) was up 4.2% during trading on Wednesday . The company traded as high as $9.03 and last traded at $8.96. Approximately 1,267,389 shares changed hands during trading, a decline of 47% from the average daily volume of 2,386,980 shares. The stock had previously closed at $8.59.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on TXG shares. Leerink Partners lowered 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. Canaccord Genuity Group decreased their price objective on 10x Genomics from $18.00 to $15.00 and set a "buy" rating for the company in a research report on Monday, May 12th. JPMorgan Chase & Co. decreased their price objective on 10x Genomics from $12.00 to $9.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Leerink Partnrs downgraded 10x Genomics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 13th. Finally, UBS Group cut their price target on 10x Genomics from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $15.81.
Get Our Latest Stock Report on TXG
10x Genomics Stock Performance
The stock has a 50 day moving average of $8.46 and a two-hundred day moving average of $11.84. The firm has a market capitalization of $1.17 billion, a P/E ratio of -6.24 and a beta of 1.94.
10x Genomics (NASDAQ:TXG - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.36) earnings per share for the quarter, beating analysts' consensus estimates of ($0.45) by $0.09. The business had revenue of $154.88 million for the quarter, compared to the consensus estimate of $131.91 million. 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. The firm's revenue was down 2.3% compared to the same quarter last year. During the same period last year, the business earned ($0.50) EPS. Sell-side analysts predict that 10x Genomics, Inc. will post -1.43 EPS for the current year.
Insider Buying and Selling at 10x Genomics
In other news, CFO Adam Taich sold 4,044 shares of 10x Genomics stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $8.30, for a total transaction of $33,565.20. Following the sale, the chief financial officer now owns 331,588 shares of the company's stock, valued at approximately $2,752,180.40. This trade represents a 1.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Benjamin J. Hindson sold 7,485 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total value of $62,125.50. Following the completion of the sale, the insider now directly owns 448,374 shares in the company, valued at approximately $3,721,504.20. This represents a 1.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,872 shares of company stock valued at $173,238 in the last 90 days. 9.39% of the stock is currently owned by insiders.
Institutional Trading of 10x Genomics
Several institutional investors have recently bought and sold shares of the stock. Signaturefd LLC raised its position in shares of 10x Genomics by 424.6% during the fourth quarter. Signaturefd LLC now owns 1,794 shares of the company's stock worth $26,000 after acquiring an additional 1,452 shares during the last quarter. GAMMA Investing LLC raised its holdings in 10x Genomics by 81.8% during the first quarter. GAMMA Investing LLC now owns 3,586 shares of the company's stock worth $31,000 after acquiring an additional 1,614 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in 10x Genomics during the fourth quarter worth about $32,000. Whittier Trust Co. bought a new stake in 10x Genomics during the first quarter worth about $41,000. Finally, Blue Trust Inc. raised its holdings in 10x Genomics by 73.1% during the fourth quarter. Blue Trust Inc. now owns 3,075 shares of the company's stock worth $44,000 after acquiring an additional 1,299 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.
10x Genomics Company Profile
(
Get Free Report)
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.
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