10x Genomics, Inc. (NASDAQ:TXG) Director Alan Mateo Acquires 40,000 Shares

10x Genomics, Inc. (NASDAQ:TXG) Director Alan Mateo acquired 40,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was purchased at an average cost of $11.14 per share, with a total value of $445,600.00. Following the completion of the acquisition, the director now directly owns 61,691 shares of the company’s stock, valued at approximately $687,237.74. This trade represents a 184.41 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

10x Genomics Stock Down 1.6 %

Shares of TXG stock traded down $0.18 during trading hours on Tuesday, hitting $11.11. 3,650,293 shares of the company were exchanged, compared to its average volume of 2,617,122. The firm has a fifty day moving average of $14.23 and a 200 day moving average of $17.02. 10x Genomics, Inc. has a 1 year low of $10.63 and a 1 year high of $48.42. The firm has a market cap of $1.36 billion, a PE ratio of -7.31 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.08). 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. Analysts expect that 10x Genomics, Inc. will post -1.43 earnings per share for the current year.

Institutional Investors Weigh In On 10x Genomics

Institutional investors have recently added to or reduced their stakes in the company. Creative Planning purchased a new stake in shares of 10x Genomics during the 3rd quarter worth about $214,000. Blue Trust Inc. lifted its position in 10x Genomics by 136.5% during the third quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock valued at $40,000 after buying an additional 1,025 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in 10x Genomics by 2,280.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 38,963 shares of the company’s stock worth $880,000 after buying an additional 37,326 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of 10x Genomics in the third quarter worth $438,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of 10x Genomics by 84.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 23,952 shares of the company’s stock valued at $541,000 after acquiring an additional 10,935 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TXG shares. The Goldman Sachs Group reduced their price target on 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a report on Wednesday, October 30th. UBS Group lowered their target price on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Morgan Stanley decreased their price objective on shares of 10x Genomics from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Stifel Nicolaus cut their target price on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Leerink Partners lowered shares of 10x Genomics from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $25.00 to $12.00 in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $20.57.

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.