10x Genomics (NASDAQ:TXG) Shares Up 7% – Still a Buy?

10x Genomics, Inc. (NASDAQ:TXG) traded up 7% on Wednesday . The company traded as high as $7.70 and last traded at $7.64. 580,407 shares changed hands 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

A number of equities research analysts have recently weighed in on the company. Barclays dropped their price objective on 10x Genomics from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. UBS Group cut their price target on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Morgan Stanley reduced their target price on shares of 10x Genomics from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, February 14th. JPMorgan Chase & Co. lowered their target price on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Finally, Stifel Nicolaus lowered their price target on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.21.

10x Genomics Price Performance

The stock has a 50-day moving average price of $10.96 and a 200-day moving average price of $14.29. The firm has a market capitalization of $944.54 million, a PE ratio of -5.10 and a beta of 2.01.

10x Genomics (NASDAQ:TXG) last released its earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share 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, equities research analysts predict that 10x Genomics, Inc. will post -1.43 earnings per share for the current fiscal year.

Insider Transactions at 10x Genomics

In related news, CEO Serge Saxonov sold 5,092 shares of 10x Genomics stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $11.07, for a total value of $56,368.44. Following the sale, the chief executive officer now directly owns 879,482 shares in the company, valued at $9,735,865.74. This trade represents a 0.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Benjamin J. Hindson sold 4,573 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $50,623.11. Following the completion of the sale, the insider now owns 335,324 shares in the company, valued at $3,712,036.68. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders own 10.03% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. RA Capital Management L.P. bought a new position in 10x Genomics during the 4th quarter valued at $47,092,000. Assenagon Asset Management S.A. purchased a new stake in shares of 10x Genomics during the fourth quarter valued at $26,308,000. D. E. Shaw & Co. Inc. purchased a new position in 10x Genomics in the 4th quarter worth about $17,499,000. ARK Investment Management LLC increased its position in shares of 10x Genomics by 11.1% in the fourth quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock worth $171,517,000 after acquiring an additional 1,193,712 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in 10x Genomics by 291.2% during the fourth quarter. Two Sigma Investments LP now owns 1,319,487 shares of the company’s stock valued at $18,948,000 after buying an additional 982,203 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

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.