10x Genomics (NASDAQ:TXG) Shares Up 4.9% - Still a Buy?

10x Genomics, Inc. (NASDAQ:TXG - Get Free Report)'s share price shot up 4.9% during trading on Tuesday . The company traded as high as $10.16 and last traded at $10.33. 1,564,471 shares were traded during mid-day trading, a decline of 40% from the average session volume of 2,623,672 shares. The stock had previously closed at $9.85.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TXG. Barclays reduced their target price on 10x Genomics from $19.00 to $18.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. Leerink Partnrs cut 10x Genomics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 13th. Morgan Stanley reduced their target price on 10x Genomics from $28.00 to $26.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. JPMorgan Chase & Co. reduced their target price on 10x Genomics from $14.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of 10x Genomics in a research note on Friday. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, 10x Genomics currently has a consensus rating of "Hold" and a consensus price target of $20.21.

10x Genomics Stock Up 2.0 %

The company has a fifty day simple moving average of $13.68 and a 200 day simple moving average of $16.51. The firm has a market capitalization of $1.43 billion, a P/E ratio of -7.70 and a beta of 1.93.

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10x Genomics (NASDAQ:TXG - Get Free Report) last released its 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, equities analysts expect that 10x Genomics, Inc. will post -1.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Benjamin J. Hindson sold 4,573 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $50,623.11. Following the completion of the transaction, the insider now owns 335,324 shares in the company, valued at $3,712,036.68. The trade was a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Serge Saxonov sold 5,092 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer now owns 879,482 shares of the company's stock, valued at $9,735,865.74. This represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 10.03% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TXG. Signaturefd LLC raised its stake in shares of 10x Genomics by 424.6% in the fourth quarter. Signaturefd LLC now owns 1,794 shares of the company's stock worth $26,000 after purchasing an additional 1,452 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in 10x Genomics during the fourth quarter valued at $32,000. Capital Performance Advisors LLP purchased a new stake in 10x Genomics during the third quarter valued at $35,000. Blue Trust Inc. increased its position in 10x Genomics by 73.1% during the fourth quarter. Blue Trust Inc. now owns 3,075 shares of the company's stock valued at $44,000 after acquiring an additional 1,299 shares during the last quarter. Finally, Sound Income Strategies LLC increased its position in 10x Genomics by 65.2% during the fourth quarter. Sound Income Strategies LLC now owns 3,370 shares of the company's stock valued at $48,000 after acquiring an additional 1,330 shares during the last quarter. 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.