10x Genomics (NASDAQ:TXG) Shares Down 5.9%

10x Genomics, Inc. (NASDAQ:TXG - Get Free Report) traded down 5.9% during mid-day trading on Tuesday . The stock traded as low as $30.84 and last traded at $30.92. 371,984 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 1,386,820 shares. The stock had previously closed at $32.86.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Stifel Nicolaus reduced their price target on shares of 10x Genomics from $68.00 to $63.00 and set a "buy" rating on the stock in a report on Friday, February 16th. Barclays cut their price objective on shares of 10x Genomics from $55.00 to $45.00 and set an "overweight" rating for the company in a research report on Wednesday, April 10th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $60.88.

10x Genomics Trading Down 6.3 %

The stock has a market capitalization of $3.67 billion, a P/E ratio of -14.26 and a beta of 1.90. The company's 50-day moving average is $41.22 and its two-hundred day moving average is $43.28.

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

Insiders Place Their Bets

In other 10x Genomics news, CEO Serge Saxonov sold 2,821 shares of the business's stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total transaction of $130,725.14. Following the sale, the chief executive officer now directly owns 847,560 shares in the company, valued at approximately $39,275,930.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Justin J. Mcanear sold 1,865 shares of 10x Genomics stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total value of $86,424.10. Following the transaction, the chief financial officer now owns 95,240 shares of the company's stock, valued at approximately $4,413,421.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Serge Saxonov sold 2,821 shares of 10x Genomics stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $46.34, for a total transaction of $130,725.14. Following the completion of the transaction, the chief executive officer now directly owns 847,560 shares in the company, valued at approximately $39,275,930.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,959 shares of company stock worth $592,806. 10.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On 10x Genomics

Several hedge funds have recently made changes to their positions in the business. Indiana Trust & Investment Management CO purchased a new position in shares of 10x Genomics in the third quarter worth approximately $29,000. UMB Bank n.a. increased its position in shares of 10x Genomics by 51.6% in the fourth quarter. UMB Bank n.a. now owns 782 shares of the company's stock worth $44,000 after acquiring an additional 266 shares in the last quarter. Atlas Capital Advisors LLC increased its position in shares of 10x Genomics by 41.7% in the second quarter. Atlas Capital Advisors LLC now owns 935 shares of the company's stock worth $42,000 after acquiring an additional 275 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of 10x Genomics in the fourth quarter worth approximately $66,000. Finally, PNC Financial Services Group Inc. increased its position in shares of 10x Genomics by 17.9% in the second quarter. PNC Financial Services Group Inc. now owns 1,299 shares of the company's stock worth $73,000 after acquiring an additional 197 shares in the last quarter. Institutional investors and hedge funds 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.