10x Genomics (NASDAQ:TXG) Trading Up 6.4% – Still a Buy?

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TXG. Citigroup cut shares of 10x Genomics from a “buy” rating to a “cautious” rating in a report on Thursday, December 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a research report on Monday, December 22nd. Stifel Nicolaus increased their price objective on 10x Genomics from $15.00 to $20.00 and gave the company a “buy” rating in a report on Friday. TD Cowen boosted their target price on 10x Genomics from $18.00 to $19.00 and gave the stock a “hold” rating in a research note on Friday. Finally, JPMorgan Chase & Co. upped their target price on 10x Genomics from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, November 7th. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.68.

10x Genomics Trading Up 2.8%

The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of -53.20 and a beta of 2.24. The firm has a 50-day moving average of $18.68 and a 200-day moving average of $15.65.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Thursday, February 12th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The company had revenue of $166.03 million during the quarter, compared to analysts’ expectations of $160.35 million. 10x Genomics had a negative return on equity of 6.99% and a negative net margin of 6.77%.The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.40) EPS. On average, equities research analysts anticipate that 10x Genomics will post -1.43 EPS for the current year.

Insider Buying and Selling

In other 10x Genomics news, CEO Serge Saxonov sold 13,261 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $19.00, for a total transaction of $251,959.00. Following the completion of the transaction, the chief executive officer directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Benjamin J. Hindson sold 8,283 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $19.00, for a total transaction of $157,377.00. Following the completion of the sale, the insider owned 432,605 shares in the company, valued at $8,219,495. The trade was a 1.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 33,432 shares of company stock worth $635,208. 10.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On 10x Genomics

Several hedge funds have recently modified their holdings of the company. Foundations Investment Advisors LLC acquired a new position in shares of 10x Genomics during the 3rd quarter worth about $665,000. Jump Financial LLC lifted its position in shares of 10x Genomics by 130.2% in the second quarter. Jump Financial LLC now owns 1,041,051 shares of the company’s stock valued at $12,055,000 after acquiring an additional 588,769 shares in the last quarter. AlphaQuest LLC boosted its stake in shares of 10x Genomics by 234.3% in the third quarter. AlphaQuest LLC now owns 133,419 shares of the company’s stock worth $1,560,000 after acquiring an additional 93,514 shares during the last quarter. Friedenthal Financial purchased a new stake in shares of 10x Genomics during the third quarter worth approximately $924,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in 10x Genomics in the 3rd quarter valued at $1,179,000. 84.68% of the stock is owned by hedge funds and other 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.