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10x Genomics (NASDAQ:TXG) Shares Gap Down to $19.88

10x Genomics logo with Medical background

10x Genomics, Inc. (NASDAQ:TXG - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $19.88, but opened at $19.40. 10x Genomics shares last traded at $19.42, with a volume of 77,225 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TXG. UBS Group dropped their price target on 10x Genomics from $52.00 to $30.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 1st. Guggenheim reissued a "neutral" rating on shares of 10x Genomics in a report on Tuesday. The Goldman Sachs Group cut their price target on 10x Genomics from $30.00 to $26.00 and set a "sell" rating for the company in a report on Wednesday, May 1st. Canaccord Genuity Group decreased their price objective on 10x Genomics from $65.00 to $50.00 and set a "buy" rating on the stock in a research note on Monday, April 29th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on 10x Genomics from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $46.62.

Read Our Latest Report on 10x Genomics

10x Genomics Stock Performance

The company has a market capitalization of $2.33 billion, a P/E ratio of -8.78 and a beta of 1.87. The business's fifty day simple moving average is $24.38 and its 200-day simple moving average is $37.68.


10x Genomics (NASDAQ:TXG - Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The company reported ($0.50) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.50). The company had revenue of $141.01 million during the quarter, compared to analysts' expectations of $142.24 million. 10x Genomics had a negative net margin of 42.20% and a negative return on equity of 30.85%. The firm's quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.44) EPS. As a group, analysts forecast that 10x Genomics, Inc. will post -1.53 EPS for the current year.

Insider Buying and Selling at 10x Genomics

In related news, CEO Serge Saxonov sold 4,877 shares of the company's stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $118,511.10. Following the completion of the transaction, the chief executive officer now owns 889,641 shares of the company's stock, valued at approximately $21,618,276.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Serge Saxonov sold 4,877 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $118,511.10. Following the completion of the transaction, the chief executive officer now directly owns 889,641 shares in the company, valued at $21,618,276.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Justin J. Mcanear sold 2,936 shares of the firm's stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $71,344.80. Following the transaction, the chief financial officer now owns 146,203 shares of the company's stock, valued at $3,552,732.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,900 shares of company stock worth $289,170. 10.03% of the stock is currently owned by insiders.

Institutional Trading of 10x Genomics

A number of hedge funds and other institutional investors have recently bought and sold shares of TXG. Allspring Global Investments Holdings LLC increased its position in shares of 10x Genomics by 113.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company's stock worth $26,000 after purchasing an additional 371 shares in the last quarter. Covestor Ltd grew its holdings in shares of 10x Genomics by 501.7% during the first quarter. Covestor Ltd now owns 1,047 shares of the company's stock worth $39,000 after buying an additional 873 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of 10x Genomics by 51.6% during the fourth quarter. UMB Bank n.a. now owns 782 shares of the company's stock worth $44,000 after buying an additional 266 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of 10x Genomics during the fourth quarter worth about $66,000. Finally, Headlands Technologies LLC purchased a new position in shares of 10x Genomics during the first quarter worth about $71,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

About 10x Genomics

(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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