10x Genomics (NASDAQ:TXG) Stock Price Down 5.8%

Shares of 10x Genomics, Inc. (NASDAQ:TXG) fell 5.8% during mid-day trading on Friday . The company traded as low as $21.63 and last traded at $21.80. 218,446 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 1,638,563 shares. The stock had previously closed at $23.14.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TXG. Canaccord Genuity Group dropped their price target on 10x Genomics from $50.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft downgraded shares of 10x Genomics from a “buy” rating to a “hold” rating and cut their price target for the stock from $55.00 to $25.00 in a report on Wednesday, July 10th. Stephens reaffirmed an “overweight” rating and issued a $30.00 price objective on shares of 10x Genomics in a report on Wednesday. Stifel Nicolaus cut their price objective on shares of 10x Genomics from $53.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. Finally, Morgan Stanley decreased their target price on shares of 10x Genomics from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.60.

10x Genomics Trading Down 6.9 %

The company has a market cap of $2.60 billion, a price-to-earnings ratio of -9.66 and a beta of 1.85. The business has a fifty day moving average of $20.19 and a two-hundred day moving average of $26.87.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $150.90 million. On average, research analysts forecast that 10x Genomics, Inc. will post -1.35 EPS for the current fiscal year.

Insider Activity

In related news, CEO Serge Saxonov sold 6,749 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $152,054.97. Following the transaction, the chief executive officer now directly owns 882,467 shares of the company’s stock, valued at approximately $19,881,981.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Serge Saxonov sold 6,749 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $152,054.97. Following the completion of the sale, the chief executive officer now directly owns 882,467 shares in the company, valued at $19,881,981.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Benjamin J. Hindson sold 4,351 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $98,028.03. Following the completion of the transaction, the insider now owns 345,704 shares in the company, valued at approximately $7,788,711.12. The disclosure for this sale can be found here. Insiders have sold a total of 14,061 shares of company stock worth $316,794 over the last 90 days. 10.03% of the stock is currently owned by company insiders.

Institutional Trading of 10x Genomics

A number of hedge funds have recently bought and sold shares of TXG. Venrock Management VI LLC purchased a new stake in shares of 10x Genomics in the fourth quarter valued at approximately $117,894,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of 10x Genomics by 58.6% in 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 last quarter. Vanguard Group Inc. raised its holdings in shares of 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. boosted its position in shares of 10x Genomics by 264.5% during 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 acquiring an additional 231,697 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of 10x Genomics by 604.9% during the 2nd quarter. SG Americas Securities LLC now owns 101,344 shares of the company’s stock valued at $1,971,000 after acquiring an additional 86,967 shares during the last quarter. Institutional investors and hedge funds 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.