10x Genomics (NASDAQ:TXG) Shares Gap Down to $37.37

10x Genomics, Inc. (NASDAQ:TXG - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $37.37, but opened at $35.33. 10x Genomics shares last traded at $35.56, with a volume of 47,155 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Guggenheim assumed coverage on shares of 10x Genomics in a report on Thursday, December 14th. They issued a "buy" rating and a $60.00 price target for the company. Stifel Nicolaus reduced their price objective on shares of 10x Genomics from $68.00 to $63.00 and set a "buy" rating for the company in a research note on Friday, February 16th. Bank of America raised shares of 10x Genomics from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $36.00 to $54.00 in a research note on Tuesday, December 12th. Barclays dropped their target price on 10x Genomics from $55.00 to $45.00 and set an "overweight" rating on the stock in a report on Wednesday. Finally, Wolfe Research assumed coverage on 10x Genomics in a report on Wednesday, December 13th. They issued an "outperform" rating and a $55.00 target price on the stock. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, 10x Genomics currently has a consensus rating of "Moderate Buy" and an average target price of $60.88.

10x Genomics Stock Down 5.5 %

The company has a market capitalization of $4.21 billion, a P/E ratio of -16.27 and a beta of 1.90. The firm has a 50-day moving average price of $41.75 and a two-hundred day moving average price of $43.40.

10x Genomics (NASDAQ:TXG - Get Free Report) last issued its earnings results on Thursday, February 15th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.05). The firm had revenue of $183.98 million during the quarter, compared to the consensus estimate of $182.73 million. 10x Genomics had a negative return on equity of 28.82% and a negative net margin of 41.17%. The firm's revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period last year, the business earned ($0.15) earnings per share. On average, analysts predict that 10x Genomics, Inc. will post -1.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other 10x Genomics news, insider Benjamin J. Hindson sold 2,613 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $46.34, for a total transaction of $121,086.42. Following the completion of the transaction, the insider now directly owns 283,059 shares in the company, valued at $13,116,954.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Serge Saxonov sold 4,000 shares of the firm's stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $45.24, for a total value of $180,960.00. Following the completion of the sale, the chief executive officer now directly owns 856,381 shares in the company, valued at $38,742,676.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Benjamin J. Hindson sold 2,613 shares of the firm's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total value of $121,086.42. Following the completion of the sale, the insider now owns 283,059 shares of the company's stock, valued at $13,116,954.06. The disclosure for this sale can be found here. Insiders sold 16,959 shares of company stock worth $773,766 over the last three months. 10.65% of the stock is currently owned by corporate insiders.

Institutional Trading of 10x Genomics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its position in 10x Genomics by 56.4% in the 3rd quarter. FMR LLC now owns 12,666,998 shares of the company's stock valued at $522,514,000 after buying an additional 4,565,400 shares during the last quarter. BlackRock Inc. increased its holdings in shares of 10x Genomics by 14.2% during the 1st quarter. BlackRock Inc. now owns 9,156,992 shares of the company's stock worth $696,572,000 after acquiring an additional 1,138,358 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of 10x Genomics by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 9,011,332 shares of the company's stock worth $504,274,000 after acquiring an additional 107,815 shares during the last quarter. Sands Capital Management LLC increased its holdings in shares of 10x Genomics by 10.2% during the 2nd quarter. Sands Capital Management LLC now owns 4,120,269 shares of the company's stock worth $230,076,000 after acquiring an additional 382,501 shares during the last quarter. Finally, ARK Investment Management LLC increased its holdings in shares of 10x Genomics by 35.0% during the 4th quarter. ARK Investment Management LLC now owns 4,041,287 shares of the company's stock worth $226,150,000 after acquiring an additional 1,047,827 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

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.