10x Genomics (NASDAQ:TXG) Trading Up 4.3% – Here’s What Happened

10x Genomics, Inc. (NASDAQ:TXG)’s share price shot up 4.3% on Monday . The company traded as high as $14.67 and last traded at $14.65. 898,547 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 1,746,921 shares. The stock had previously closed at $14.04.

Analyst Ratings Changes

TXG has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their price target on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Stephens reiterated an “overweight” rating and issued a $30.00 target price on shares of 10x Genomics in a report on Thursday, October 10th. Leerink Partnrs upgraded 10x Genomics to a “strong-buy” rating in a report on Tuesday, September 3rd. Barclays dropped their price objective on shares of 10x Genomics from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Finally, The Goldman Sachs Group dropped their price target on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, 10x Genomics has a consensus rating of “Moderate Buy” and an average price target of $25.14.

10x Genomics Price Performance

The stock has a market cap of $1.79 billion, a PE ratio of -9.64 and a beta of 1.84. The business has a fifty day moving average of $15.29 and a 200-day moving average of $18.66.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.04. 10x Genomics had a negative return on equity of 25.07% and a negative net margin of 28.93%. The business had revenue of $151.65 million during the quarter, compared to analysts’ expectations of $158.84 million. During the same period in the prior year, the business earned ($0.51) EPS. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, equities research analysts predict that 10x Genomics, Inc. will post -1.4 EPS for the current year.

Institutional Trading of 10x Genomics

A number of institutional investors have recently made changes to their positions in the business. ARK Investment Management LLC raised its position in shares of 10x Genomics by 15.4% in the 3rd quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company’s stock valued at $242,743,000 after purchasing an additional 1,436,582 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in 10x Genomics during the 3rd quarter valued at approximately $27,778,000. Deerfield Management Company L.P. Series C purchased a new position in shares of 10x Genomics in the second quarter worth $11,612,000. FMR LLC lifted its stake in shares of 10x Genomics by 2.7% during the third quarter. FMR LLC now owns 13,367,979 shares of the company’s stock worth $301,849,000 after buying an additional 357,470 shares during the period. Finally, Algert Global LLC grew its holdings in shares of 10x Genomics by 214.5% during the third quarter. Algert Global LLC now owns 370,958 shares of the company’s stock valued at $8,376,000 after buying an additional 252,994 shares during the last quarter. Institutional investors and hedge funds 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.