10x Genomics (NASDAQ:TXG) Trading Up 4.9% – Time to Buy?

10x Genomics, Inc. (NASDAQ:TXG) shot up 4.9% during trading on Tuesday . The stock traded as high as $10.16 and last traded at $10.33. 1,564,471 shares changed hands during trading, a decline of 40% from the average session volume of 2,623,672 shares. The stock had previously closed at $9.85.

Analysts Set New Price Targets

Several research firms have recently commented on TXG. Canaccord Genuity Group decreased their price objective on 10x Genomics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Leerink Partners downgraded 10x Genomics from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $25.00 to $12.00 in a report on Thursday, February 13th. JPMorgan Chase & Co. decreased their price objective on 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Leerink Partnrs downgraded 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 13th. Finally, Stifel Nicolaus decreased their price target on 10x Genomics from $21.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, 10x Genomics currently has a consensus rating of “Hold” and a consensus price target of $20.21.

10x Genomics Stock Performance

The company has a market cap of $1.29 billion, a P/E ratio of -6.92 and a beta of 1.85. The firm has a 50 day moving average price of $13.90 and a two-hundred day moving average price of $16.67.

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 the consensus estimate 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%. On average, sell-side analysts predict that 10x Genomics, Inc. will post -1.43 EPS for the current fiscal year.

Insider Transactions at 10x Genomics

In other 10x Genomics news, insider Benjamin J. Hindson sold 4,573 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $50,623.11. Following the completion of the transaction, the insider now owns 335,324 shares in the company, valued at $3,712,036.68. This trade represents a 1.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Serge Saxonov sold 5,092 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $56,368.44. Following the completion of the transaction, the chief executive officer now owns 879,482 shares of the company’s stock, valued at approximately $9,735,865.74. This represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. 10.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TXG. FMR LLC boosted its position in shares of 10x Genomics by 0.6% during the 4th quarter. FMR LLC now owns 13,454,434 shares of the company’s stock valued at $193,206,000 after acquiring an additional 86,455 shares during the last quarter. ARK Investment Management LLC boosted its position in shares of 10x Genomics by 11.1% during the 4th quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock valued at $171,517,000 after acquiring an additional 1,193,712 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of 10x Genomics by 3.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,373,212 shares of the company’s stock valued at $143,907,000 after acquiring an additional 230,145 shares during the last quarter. RA Capital Management L.P. bought a new stake in shares of 10x Genomics during the 4th quarter valued at about $47,092,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of 10x Genomics by 10.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,116,573 shares of the company’s stock valued at $30,394,000 after acquiring an additional 193,588 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

10x Genomics Company Profile

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.