10x Genomics (NASDAQ:TXG) Trading 6.6% Higher

10x Genomics, Inc. (NASDAQ:TXG)’s stock price traded up 6.6% during mid-day trading on Wednesday . The company traded as high as $23.52 and last traded at $22.83. 832,167 shares changed hands during trading, a decline of 49% from the average session volume of 1,623,577 shares. The stock had previously closed at $21.41.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wolfe Research reiterated a “peer perform” rating on shares of 10x Genomics in a research note on Thursday, June 27th. Barclays lowered their price target on 10x Genomics from $36.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, June 28th. JPMorgan Chase & Co. cut 10x Genomics from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $40.00 to $20.00 in a report on Thursday, July 18th. Morgan Stanley lowered their price target on 10x Genomics from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Finally, The Goldman Sachs Group lowered their price target on 10x Genomics from $26.00 to $16.00 and set a “sell” rating on the stock in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $31.60.

10x Genomics Trading Up 3.1 %

The company has a fifty day moving average price of $20.65 and a 200-day moving average price of $25.54.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $150.90 million. As a group, equities research analysts predict that 10x Genomics, Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Activity at 10x Genomics

In related news, CEO Serge Saxonov sold 6,749 shares of the stock in a transaction 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 sale, the chief executive officer now owns 882,467 shares in the company, valued at approximately $19,881,981.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other 10x Genomics news, CFO Justin J. Mcanear sold 2,961 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 $66,711.33. Following the transaction, the chief financial officer now owns 143,242 shares of the company’s stock, valued at approximately $3,227,242.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Serge Saxonov sold 6,749 shares of the company’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 $152,054.97. Following the completion of the transaction, the chief executive officer now directly owns 882,467 shares in the company, valued at approximately $19,881,981.51. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,061 shares of company stock worth $316,794. Company insiders own 10.03% of the company’s stock.

Hedge Funds Weigh In On 10x Genomics

Several hedge funds have recently bought and sold shares of TXG. Allspring Global Investments Holdings LLC grew its position in shares of 10x Genomics by 113.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock worth $26,000 after buying an additional 371 shares in the last quarter. First Horizon Advisors Inc. grew its position in shares of 10x Genomics by 74.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock worth $37,000 after buying an additional 808 shares in the last quarter. Covestor Ltd grew its position in shares of 10x Genomics by 501.7% during the 1st quarter. Covestor Ltd now owns 1,047 shares of the company’s stock worth $39,000 after buying an additional 873 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of 10x Genomics during the 1st quarter worth $71,000. Finally, Federated Hermes Inc. bought a new position in shares of 10x Genomics during the 2nd quarter worth $136,000. Institutional investors 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.