10x Genomics (NASDAQ:TXG) Reaches New 1-Year High – Here’s What Happened

10x Genomics (NASDAQ:TXG) reached a new 52-week high during trading on Monday . The company traded as high as $26.45 and last traded at $25.6050, with a volume of 2035278 shares. The stock had previously closed at $26.08.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group set a $22.00 target price on shares of 10x Genomics in a report on Friday, February 13th. Leerink Partners dropped their target price on 10x Genomics from $22.00 to $20.00 and set a “market perform” rating for the company in a research report on Tuesday, January 27th. Bank of America set a $21.00 price target on 10x Genomics in a report on Monday, January 12th. Weiss Ratings restated a “sell (d-)” rating on shares of 10x Genomics in a report on Friday, March 27th. Finally, William Blair raised 10x Genomics from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 31st. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $19.46.

10x Genomics Price Performance

The firm has a market cap of $3.22 billion, a price-to-earnings ratio of -72.24 and a beta of 2.17. The firm has a fifty day simple moving average of $20.69 and a two-hundred day simple moving average of $18.09.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.06. The firm had revenue of $166.03 million for the quarter, compared to the consensus estimate of $160.35 million. 10x Genomics had a negative net margin of 6.77% and a negative return on equity of 6.89%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.40) earnings per share. Equities analysts anticipate that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 10x Genomics news, CEO Serge Saxonov sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $24.56, for a total transaction of $122,800.00. Following the completion of the transaction, the chief executive officer directly owned 1,167,273 shares of the company’s stock, valued at approximately $28,668,224.88. This trade represents a 0.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Benjamin J. Hindson sold 7,826 shares of 10x Genomics stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $18.58, for a total transaction of $145,407.08. Following the sale, the insider owned 424,779 shares of the company’s stock, valued at approximately $7,892,393.82. The trade was a 1.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 46,426 shares of company stock valued at $902,695 over the last quarter. 10.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Intech Investment Management LLC grew its position in 10x Genomics by 1.4% during the 4th quarter. Intech Investment Management LLC now owns 40,047 shares of the company’s stock worth $653,000 after purchasing an additional 567 shares during the period. Arizona State Retirement System boosted its stake in shares of 10x Genomics by 3.0% in the third quarter. Arizona State Retirement System now owns 29,586 shares of the company’s stock worth $346,000 after buying an additional 872 shares during the last quarter. Certuity LLC boosted its stake in shares of 10x Genomics by 4.7% in the fourth quarter. Certuity LLC now owns 20,204 shares of the company’s stock worth $330,000 after buying an additional 904 shares during the last quarter. Versant Capital Management Inc grew its holdings in 10x Genomics by 3.3% during the third quarter. Versant Capital Management Inc now owns 29,364 shares of the company’s stock worth $343,000 after acquiring an additional 945 shares during the period. Finally, True Wealth Design LLC grew its holdings in 10x Genomics by 26.4% during the third quarter. True Wealth Design LLC now owns 4,534 shares of the company’s stock worth $53,000 after acquiring an additional 948 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

About 10x Genomics

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.