10x Genomics (NASDAQ:TXG) Trading Up 6.4% – What’s Next?

10x Genomics (NASDAQ:TXG)’s share price traded up 6.4% on Tuesday . The stock traded as high as $19.31 and last traded at $19.28. 778,713 shares traded hands during trading, a decline of 72% from the average session volume of 2,769,455 shares. The stock had previously closed at $18.12.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TXG. Citigroup downgraded 10x Genomics from a “buy” rating to a “cautious” rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. raised their price objective on 10x Genomics from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Canaccord Genuity Group set a $22.00 target price on 10x Genomics in a research report on Friday, February 13th. Deutsche Bank Aktiengesellschaft set a $17.00 price target on shares of 10x Genomics and gave the company a “hold” rating in a research report on Friday, February 13th. Finally, Bank of America set a $21.00 price objective on shares of 10x Genomics in a report on Monday, January 12th. Four investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $17.68.

10x Genomics Stock Performance

The firm has a 50-day moving average of $18.79 and a 200-day moving average of $15.74. The firm has a market capitalization of $2.43 billion, a P/E ratio of -54.83 and a beta of 2.24.

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

Insiders Place Their Bets

In related news, insider Benjamin J. Hindson sold 8,283 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $19.00, for a total transaction of $157,377.00. Following the transaction, the insider owned 432,605 shares in the company, valued at $8,219,495. The trade was a 1.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Serge Saxonov sold 13,261 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $19.00, for a total value of $251,959.00. Following the completion of the sale, the chief executive officer owned 1,021,556 shares of the company’s stock, valued at approximately $19,409,564. This trade represents a 1.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 33,432 shares of company stock valued at $635,208 in the last quarter. Insiders own 9.39% of the company’s stock.

Institutional Trading of 10x Genomics

Large investors have recently bought and sold shares of the company. Royal Bank of Canada raised its position in shares of 10x Genomics by 806.4% in the 1st quarter. Royal Bank of Canada now owns 182,836 shares of the company’s stock worth $1,597,000 after acquiring an additional 162,665 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in 10x Genomics by 163.5% in the first quarter. Goldman Sachs Group Inc. now owns 645,366 shares of the company’s stock worth $5,634,000 after purchasing an additional 400,430 shares during the period. Focus Partners Wealth bought a new position in 10x Genomics in the first quarter worth $92,000. Vanguard Personalized Indexing Management LLC lifted its position in 10x Genomics by 81.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 22,141 shares of the company’s stock valued at $256,000 after buying an additional 9,928 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of 10x Genomics during the 2nd quarter valued at $627,000. 84.68% of the stock is owned by institutional investors.

10x Genomics Company Profile

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.