10x Genomics (NASDAQ:TXG) Trading Down 4%

10x Genomics, Inc. (NASDAQ:TXG)’s share price was down 4% on Monday . The company traded as low as $21.46 and last traded at $21.47. Approximately 141,491 shares changed hands during trading, a decline of 91% from the average daily volume of 1,625,669 shares. The stock had previously closed at $22.37.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TXG. Morgan Stanley dropped their target price on 10x Genomics from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Barclays reduced their target price on shares of 10x Genomics from $36.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, June 28th. JPMorgan Chase & Co. lowered shares of 10x Genomics from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $40.00 to $20.00 in a research note on Thursday, July 18th. The Goldman Sachs Group reduced their price objective on shares of 10x Genomics from $26.00 to $16.00 and set a “sell” rating for the company in a research report on Tuesday, July 9th. Finally, Leerink Partnrs upgraded 10x Genomics to a “strong-buy” rating in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.60.

10x Genomics Price Performance

The stock has a market capitalization of $2.62 billion, a PE ratio of -10.03 and a beta of 1.85. The company has a 50-day moving average of $20.53 and a two-hundred day moving average of $25.89.

10x Genomics (NASDAQ:TXG) last released its earnings results 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. The business had revenue of $153.10 million for the quarter, compared to analysts’ expectations of $150.90 million. 10x Genomics had a negative net margin of 37.90% and a negative return on equity of 28.23%. On average, research analysts forecast that 10x Genomics, Inc. will post -1.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Benjamin J. Hindson sold 4,351 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $98,028.03. Following the completion of the sale, the insider now owns 345,704 shares of the company’s stock, valued at approximately $7,788,711.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other 10x Genomics news, insider Benjamin J. Hindson sold 4,351 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $98,028.03. Following the transaction, the insider now directly owns 345,704 shares of the company’s stock, valued at $7,788,711.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Justin J. Mcanear sold 2,961 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $66,711.33. Following the completion of the sale, the chief financial officer now owns 143,242 shares of the company’s stock, valued at approximately $3,227,242.26. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,061 shares of company stock valued at $316,794. 10.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its stake in shares of 10x Genomics by 113.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock valued at $26,000 after purchasing an additional 371 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in 10x Genomics by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 40,717 shares of the company’s stock worth $2,279,000 after buying an additional 400 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of 10x Genomics by 74.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock valued at $37,000 after acquiring an additional 808 shares during the last quarter. Covestor Ltd raised 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 valued at $39,000 after acquiring an additional 873 shares in the last quarter. Finally, Mirador Capital Partners LP lifted its stake in 10x Genomics by 3.4% during the first quarter. Mirador Capital Partners LP now owns 28,825 shares of the company’s stock worth $1,082,000 after purchasing an additional 940 shares during the last quarter. Institutional investors and hedge funds 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.