10x Genomics (NASDAQ:TXG) Trading 5.2% Higher – Here’s What Happened

10x Genomics, Inc. (NASDAQ:TXG)’s share price traded up 5.2% during trading on Tuesday . The company traded as high as $20.87 and last traded at $20.87. 276,748 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 1,610,372 shares. The stock had previously closed at $19.83.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wolfe Research restated a “peer perform” rating on shares of 10x Genomics in a research report on Thursday, June 27th. Jefferies Financial Group upgraded 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Monday, July 22nd. UBS Group cut their price objective on 10x Genomics from $30.00 to $25.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft cut 10x Genomics from a “buy” rating to a “hold” rating and dropped their price target for the stock from $55.00 to $25.00 in a research report on Wednesday, July 10th. Finally, Guggenheim reiterated a “neutral” rating on shares of 10x Genomics in a research report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $31.60.

10x Genomics Trading Up 2.5 %

The company has a fifty day simple moving average of $21.57 and a 200-day simple moving average of $23.80. The company has a market capitalization of $2.42 billion, a PE ratio of -9.23 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.15. 10x Genomics had a negative return on equity of 28.23% and a negative net margin of 37.90%. The business had revenue of $153.10 million for the quarter, compared to analyst estimates of $150.90 million. On average, equities analysts predict that 10x Genomics, Inc. will post -1.32 EPS for the current fiscal year.

Insider Activity

In other news, insider Benjamin J. Hindson sold 4,351 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $98,028.03. Following the transaction, the insider now owns 345,704 shares of the company’s stock, valued at $7,788,711.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Serge Saxonov sold 6,749 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $152,054.97. Following the transaction, the chief executive officer now owns 882,467 shares of the company’s stock, valued at approximately $19,881,981.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benjamin J. Hindson sold 4,351 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $98,028.03. Following the transaction, the insider now directly owns 345,704 shares in the company, valued at approximately $7,788,711.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,061 shares of company stock valued at $316,794 in the last quarter. Insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

A number of hedge funds have recently bought and sold shares of the stock. Venrock Management VI LLC purchased a new position in shares of 10x Genomics in the 4th quarter valued at about $117,894,000. Sumitomo Mitsui Trust Holdings Inc. lifted its position in 10x Genomics by 58.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,621,778 shares of the company’s stock worth $135,925,000 after acquiring an additional 1,338,248 shares during the period. Vanguard Group Inc. lifted its position in 10x Genomics by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,101,536 shares of the company’s stock worth $341,581,000 after acquiring an additional 90,204 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of 10x Genomics by 264.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 319,287 shares of the company’s stock valued at $11,983,000 after buying an additional 231,697 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of 10x Genomics by 604.9% in the 2nd quarter. SG Americas Securities LLC now owns 101,344 shares of the company’s stock valued at $1,971,000 after buying an additional 86,967 shares during the period. 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.