10x Genomics, Inc. (NASDAQ:TXG) Short Interest Update

10x Genomics, Inc. (NASDAQ:TXG - Get Free Report) was the recipient of a significant growth in short interest in February. As of February 28th, there was short interest totalling 13,770,000 shares, a growth of 21.6% from the February 13th total of 11,320,000 shares. Based on an average trading volume of 2,480,000 shares, the days-to-cover ratio is presently 5.6 days. Approximately 12.6% of the shares of the stock are short sold.

Insider Buying and Selling at 10x Genomics

In related news, 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 transaction, the chief executive officer now owns 879,482 shares in the company, valued at $9,735,865.74. This trade represents a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benjamin J. Hindson sold 4,573 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $50,623.11. Following the transaction, the insider now owns 335,324 shares in the company, valued at approximately $3,712,036.68. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.03% of the company's stock.

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Institutional Trading of 10x Genomics

A number of institutional investors have recently modified their holdings of the company. Signaturefd LLC raised its holdings in 10x Genomics by 424.6% in the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company's stock worth $26,000 after purchasing an additional 1,452 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of 10x Genomics during the 4th quarter worth approximately $32,000. Blue Trust Inc. raised its position in shares of 10x Genomics by 73.1% in the 4th quarter. Blue Trust Inc. now owns 3,075 shares of the company's stock worth $44,000 after acquiring an additional 1,299 shares in the last quarter. Sound Income Strategies LLC lifted its stake in shares of 10x Genomics by 65.2% in the 4th quarter. Sound Income Strategies LLC now owns 3,370 shares of the company's stock valued at $48,000 after purchasing an additional 1,330 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of 10x Genomics during the fourth quarter valued at approximately $52,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TXG. Morgan Stanley decreased their price objective on 10x Genomics from $28.00 to $26.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Citigroup cut their price target on 10x Genomics from $20.00 to $15.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Weiss Ratings reiterated a "sell (e+)" rating on shares of 10x Genomics in a report on Friday, March 7th. Leerink Partnrs downgraded 10x Genomics from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 13th. Finally, Stifel Nicolaus lowered their target price on shares of 10x Genomics from $21.00 to $18.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, 10x Genomics has an average rating of "Hold" and an average price target of $20.21.

10x Genomics Stock Performance

10x Genomics stock traded up $0.44 during mid-day trading on Friday, reaching $10.39. The company's stock had a trading volume of 3,433,644 shares, compared to its average volume of 2,005,230. 10x Genomics has a 12-month low of $9.27 and a 12-month high of $38.49. The company has a market capitalization of $1.27 billion, a P/E ratio of -6.84 and a beta of 1.93. The firm's fifty day moving average price is $12.68 and its two-hundred day moving average price is $15.53.

10x Genomics (NASDAQ:TXG - Get Free Report) last released 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 net margin of 29.90% and a negative return on equity of 25.40%. On average, research analysts predict that 10x Genomics will post -1.43 EPS for the current fiscal year.

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.