10x Genomics (NASDAQ:TXG) Stock Price Up 8.7%

10x Genomics, Inc. (NASDAQ:TXG) was up 8.7% during trading on Tuesday . The stock traded as high as $21.42 and last traded at $21.35. Approximately 694,608 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 1,661,518 shares. The stock had previously closed at $19.65.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TXG. Guggenheim reissued a “neutral” rating on shares of 10x Genomics in a research report on Tuesday, June 25th. The Goldman Sachs Group decreased their price target on shares of 10x Genomics from $26.00 to $16.00 and set a “sell” rating for the company in a research note on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft lowered shares of 10x Genomics from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $55.00 to $25.00 in a research note on Wednesday, July 10th. JPMorgan Chase & Co. cut 10x Genomics from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $40.00 to $20.00 in a research note on Thursday, July 18th. Finally, TD Cowen lowered shares of 10x Genomics from a “buy” rating to a “hold” rating and reduced their price objective for the company from $57.00 to $32.00 in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $31.46.

10x Genomics Trading Up 9.6 %

The business has a 50-day moving average price of $19.46 and a 200 day moving average price of $29.89. The stock has a market capitalization of $2.57 billion, a P/E ratio of -9.40 and a beta of 1.84.

Insider Transactions at 10x Genomics

In related news, insider Benjamin J. Hindson sold 4,087 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total transaction of $99,314.10. Following the sale, the insider now owns 350,055 shares in the company, valued at approximately $8,506,336.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other 10x Genomics news, CEO Serge Saxonov sold 4,877 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total transaction of $118,511.10. Following the transaction, the chief executive officer now owns 889,641 shares of the company’s stock, valued at approximately $21,618,276.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benjamin J. Hindson sold 4,087 shares of 10x Genomics stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total transaction of $99,314.10. Following the transaction, the insider now directly owns 350,055 shares in the company, valued at $8,506,336.50. The disclosure for this sale can be found here. Insiders have sold a total of 11,900 shares of company stock worth $289,170 in the last three months. Insiders own 10.03% of the company’s stock.

Institutional Trading of 10x Genomics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. ARK Investment Management LLC raised its stake in 10x Genomics by 48.2% in the 2nd quarter. ARK Investment Management LLC now owns 9,313,763 shares of the company’s stock worth $181,153,000 after acquiring an additional 3,029,951 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of 10x Genomics by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,101,536 shares of the company’s stock worth $341,581,000 after purchasing an additional 90,204 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in 10x Genomics by 69.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,143,067 shares of the company’s stock valued at $119,483,000 after buying an additional 2,521,289 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in 10x Genomics by 17.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,657,227 shares of the company’s stock worth $137,257,000 after buying an additional 553,053 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its stake in 10x Genomics by 58.6% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock valued at $135,780,000 after acquiring an additional 1,338,248 shares during the period. Hedge funds and other institutional investors 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.