10x Genomics (NASDAQ:TXG) Stock Price Up 7% – Time to Buy?

10x Genomics, Inc. (NASDAQ:TXG) traded up 7% during trading on Wednesday . The stock traded as high as $7.70 and last traded at $7.64. 580,407 shares were traded during trading, a decline of 73% from the average session volume of 2,122,295 shares. The stock had previously closed at $7.14.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TXG shares. Citigroup lowered their price objective on shares of 10x Genomics from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Leerink Partners cut shares of 10x Genomics from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $25.00 to $12.00 in a research note on Thursday, February 13th. Barclays reduced their price objective on 10x Genomics from $15.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday. Canaccord Genuity Group lowered their target price on 10x Genomics from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of 10x Genomics in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, 10x Genomics currently has a consensus rating of “Hold” and a consensus price target of $19.79.

10x Genomics Stock Up 4.0 %

The stock has a market cap of $979.64 million, a PE ratio of -5.27 and a beta of 2.01. The firm’s fifty day moving average price is $10.57 and its 200 day moving average price is $14.05.

10x Genomics (NASDAQ:TXG) last announced its quarterly 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, analysts anticipate that 10x Genomics, Inc. will post -1.43 earnings per share for the current fiscal year.

Insider Activity at 10x Genomics

In other 10x Genomics news, Director Alan Mateo purchased 40,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were bought at an average price of $11.14 per share, with a total value of $445,600.00. Following the completion of the purchase, the director now directly owns 61,691 shares in the company, valued at $687,237.74. This trade represents a 184.41 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Serge Saxonov sold 5,092 shares of 10x Genomics stock in a transaction on Monday, February 24th. The stock was sold at an average price of $11.07, for a total transaction of $56,368.44. Following the completion of the transaction, the chief executive officer now directly owns 879,482 shares of the company’s stock, valued at $9,735,865.74. The trade was a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On 10x Genomics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Atria Wealth Solutions Inc. increased its position in shares of 10x Genomics by 9.6% during the 4th quarter. Atria Wealth Solutions Inc. now owns 10,788 shares of the company’s stock valued at $155,000 after purchasing an additional 943 shares during the last quarter. 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. 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. Signaturefd LLC lifted its holdings in shares of 10x Genomics by 424.6% in the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock worth $26,000 after acquiring an additional 1,452 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of 10x Genomics by 57.3% during the 4th quarter. KBC Group NV now owns 5,072 shares of the company’s stock worth $73,000 after purchasing an additional 1,847 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

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.