10x Genomics, Inc. (NASDAQ:TXG - Get Free Report)'s share price gapped down before the market opened on Thursday . The stock had previously closed at $8.03, but opened at $7.74. 10x Genomics shares last traded at $7.41, with a volume of 474,637 shares traded.
Analyst Ratings Changes
A number of research firms recently issued reports on TXG. Leerink Partners lowered 10x Genomics from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $25.00 to $12.00 in a report on Thursday, February 13th. Citigroup decreased their price target on shares of 10x Genomics from $20.00 to $15.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. Stifel Nicolaus dropped their price objective on shares of 10x Genomics from $21.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Barclays decreased their price objective on shares of 10x Genomics from $15.00 to $12.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Finally, JPMorgan Chase & Co. dropped their target price on 10x Genomics from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $19.79.
Get Our Latest Analysis on 10x Genomics
10x Genomics Stock Down 5.0 %
The firm has a 50-day moving average of $10.06 and a two-hundred day moving average of $13.72. The stock has a market capitalization of $932.55 million, a price-to-earnings ratio of -5.03 and a beta of 2.01.
10x Genomics (NASDAQ:TXG - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) EPS 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%. As a group, sell-side analysts predict that 10x Genomics, Inc. will post -1.43 EPS for the current year.
Insider Activity at 10x Genomics
In related news, CEO Serge Saxonov sold 5,092 shares of the firm's stock in a transaction that occurred on 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 directly owns 879,482 shares of the company's stock, valued at approximately $9,735,865.74. This trade represents a 0.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alan Mateo bought 40,000 shares of the firm's stock in a transaction on Friday, February 21st. The shares were bought at an average cost of $11.14 per share, with a total value of $445,600.00. Following the transaction, the director now directly owns 61,691 shares of the company's stock, valued at approximately $687,237.74. This trade represents a 184.41 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 10.03% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. RA Capital Management L.P. acquired a new stake in shares of 10x Genomics in the fourth quarter valued at about $47,092,000. Assenagon Asset Management S.A. acquired a new stake in 10x Genomics in the 4th quarter valued at approximately $26,308,000. D. E. Shaw & Co. Inc. bought a new position in 10x Genomics in the 4th quarter worth approximately $17,499,000. ARK Investment Management LLC lifted its holdings in shares of 10x Genomics by 11.1% during the fourth quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company's stock worth $171,517,000 after buying an additional 1,193,712 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of 10x Genomics by 291.2% in the fourth quarter. Two Sigma Investments LP now owns 1,319,487 shares of the company's stock valued at $18,948,000 after acquiring an additional 982,203 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.
About 10x Genomics
(
Get Free Report)
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.
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