10x Genomics (NASDAQ:TXG) Shares Gap Up – Here’s What Happened

10x Genomics, Inc. (NASDAQ:TXG)’s share price gapped up before the market opened on Monday . The stock had previously closed at $8.30, but opened at $8.48. 10x Genomics shares last traded at $8.48, with a volume of 221,658 shares.

Analyst Ratings Changes

TXG has been the topic of several analyst reports. Morgan Stanley dropped their price target on shares of 10x Genomics from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. JPMorgan Chase & Co. dropped their target price on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Leerink Partners lowered shares of 10x Genomics from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $25.00 to $12.00 in a research report on Thursday, February 13th. UBS Group dropped their target price on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Finally, Barclays dropped their target price on shares of 10x Genomics from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. One equities research 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, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.79.

10x Genomics Stock Down 1.2 %

The stock has a market capitalization of $1.02 billion, a PE ratio of -5.51 and a beta of 2.01. The stock has a fifty day moving average of $9.34 and a 200-day moving average of $12.95.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates 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%. Equities research analysts expect that 10x Genomics, Inc. will post -1.43 EPS for the current year.

Insider Transactions at 10x Genomics

In other 10x Genomics news, insider Benjamin J. Hindson sold 4,573 shares of 10x Genomics 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 $50,623.11. Following the sale, the insider now owns 335,324 shares of the company’s stock, valued at approximately $3,712,036.68. The trade was a 1.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $56,368.44. Following the completion of the sale, the chief executive officer now directly owns 879,482 shares in the company, valued at $9,735,865.74. This represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

A number of institutional investors have recently added to or reduced their stakes in TXG. RA Capital Management L.P. purchased a new stake in 10x Genomics in the 4th quarter valued at approximately $47,092,000. Assenagon Asset Management S.A. purchased a new stake in 10x Genomics in the 4th quarter valued at approximately $26,308,000. D. E. Shaw & Co. Inc. purchased a new stake in 10x Genomics in the 4th quarter valued at approximately $17,499,000. ARK Investment Management LLC boosted its holdings in 10x Genomics by 11.1% in the 4th quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock valued at $171,517,000 after purchasing an additional 1,193,712 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in shares of 10x Genomics by 291.2% during the 4th quarter. Two Sigma Investments LP now owns 1,319,487 shares of the company’s stock worth $18,948,000 after acquiring an additional 982,203 shares in 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.