10x Genomics (NASDAQ:TXG - Get Free Report)'s stock price was up 7.3% on Wednesday after Bank of America raised their price target on the stock from $12.00 to $13.00. Bank of America currently has a neutral rating on the stock. 10x Genomics traded as high as $12.03 and last traded at $11.69. Approximately 4,539,928 shares were traded during mid-day trading, an increase of 74% from the average daily volume of 2,614,062 shares. The stock had previously closed at $10.89.
Other research analysts also recently issued research reports about the company. Stephens reaffirmed an "overweight" rating and set a $14.00 target price on shares of 10x Genomics in a report on Thursday, May 15th. Wall Street Zen upgraded 10x Genomics from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. UBS Group lowered their target price on shares of 10x Genomics from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Canaccord Genuity Group dropped their target price on shares of 10x Genomics from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Finally, Barclays restated an "overweight" rating and issued a $13.00 price target (up from $12.00) on shares of 10x Genomics in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $14.96.
View Our Latest Research Report on TXG
Insider Activity at 10x Genomics
In other news, CEO Serge Saxonov sold 9,343 shares of 10x Genomics stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $8.30, for a total transaction of $77,546.90. Following the transaction, the chief executive officer now directly owns 1,083,625 shares in the company, valued at approximately $8,994,087.50. This trade represents a 0.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Adam Taich sold 4,044 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $8.30, for a total value of $33,565.20. Following the completion of the sale, the chief financial officer now directly owns 331,588 shares in the company, valued at $2,752,180.40. This represents a 1.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,872 shares of company stock worth $173,238 over the last ninety days. 9.39% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of TXG. Signaturefd LLC raised its position in 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 acquiring an additional 1,452 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of 10x Genomics by 81.8% in the 1st quarter. GAMMA Investing LLC now owns 3,586 shares of the company's stock worth $31,000 after purchasing an additional 1,614 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of 10x Genomics in the 4th quarter worth approximately $32,000. Whittier Trust Co. bought a new stake in shares of 10x Genomics in the 1st quarter worth approximately $41,000. Finally, PNC Financial Services Group Inc. lifted its stake in 10x Genomics by 153.6% during the first quarter. PNC Financial Services Group Inc. now owns 5,150 shares of the company's stock valued at $45,000 after purchasing an additional 3,119 shares during the last quarter. Institutional investors own 84.68% of the company's stock.
10x Genomics Price Performance
The stock has a market capitalization of $1.44 billion, a P/E ratio of -9.00 and a beta of 1.99. The stock's fifty day moving average is $9.29 and its two-hundred day moving average is $11.26.
10x Genomics (NASDAQ:TXG - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.09. The business had revenue of $154.88 million during the quarter, compared to analyst estimates of $131.91 million. 10x Genomics had a negative return on equity of 23.22% and a negative net margin of 25.14%. The company's revenue was down 2.3% compared to the same quarter last year. During the same period last year, the company posted ($0.50) EPS. Analysts expect that 10x Genomics will post -1.43 EPS for the current year.
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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