Short Interest in 10x Genomics, Inc. (NASDAQ:TXG) Expands By 34.4%

10x Genomics, Inc. (NASDAQ:TXG) saw a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 11,320,000 shares, an increase of 34.4% from the January 31st total of 8,420,000 shares. Based on an average daily volume of 2,280,000 shares, the short-interest ratio is presently 5.0 days.

10x Genomics Stock Down 7.9 %

10x Genomics stock opened at $9.85 on Tuesday. 10x Genomics has a 52-week low of $9.77 and a 52-week high of $45.60. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -6.48 and a beta of 1.85. The company has a fifty day simple moving average of $13.90 and a 200-day simple moving average of $16.67.

10x Genomics (NASDAQ:TXG) last released its earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) 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%. On average, research analysts anticipate that 10x Genomics will post -1.43 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on TXG. Morgan Stanley decreased their price objective on shares of 10x Genomics from $28.00 to $26.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. JPMorgan Chase & Co. decreased their target price on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. UBS Group decreased their target price on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of 10x Genomics in a research note on Wednesday, February 19th. Finally, Canaccord Genuity Group decreased their target price on shares of 10x Genomics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, 10x Genomics has an average rating of “Hold” and a consensus target price of $20.57.

Insiders Place Their Bets

In other 10x Genomics news, Director Alan Mateo acquired 40,000 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was acquired at an average cost of $11.14 per share, for a total transaction of $445,600.00. Following the purchase, the director now owns 61,691 shares in the company, valued at approximately $687,237.74. The trade was a 184.41 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Serge Saxonov sold 5,092 shares of 10x Genomics stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $56,368.44. Following the sale, the chief executive officer now owns 879,482 shares of the company’s stock, valued at approximately $9,735,865.74. The trade was a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.03% of the stock is owned by insiders.

Institutional Investors Weigh In On 10x Genomics

A number of large investors have recently modified their holdings of TXG. JPMorgan Chase & Co. grew its holdings in shares of 10x Genomics by 355.0% in the third quarter. JPMorgan Chase & Co. now owns 355,488 shares of the company’s stock valued at $8,027,000 after purchasing an additional 277,355 shares during the period. Entropy Technologies LP grew its holdings in shares of 10x Genomics by 285.6% in the fourth quarter. Entropy Technologies LP now owns 37,595 shares of the company’s stock valued at $540,000 after purchasing an additional 27,844 shares during the period. Geode Capital Management LLC grew its holdings in shares of 10x Genomics by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company’s stock valued at $41,009,000 after purchasing an additional 42,777 shares during the period. SG Americas Securities LLC grew its holdings in shares of 10x Genomics by 209.8% in the fourth quarter. SG Americas Securities LLC now owns 73,046 shares of the company’s stock valued at $1,049,000 after purchasing an additional 49,468 shares during the period. Finally, Alberta Investment Management Corp purchased a new stake in shares of 10x Genomics in the fourth quarter valued at about $3,206,000. Hedge funds and other 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.