10x Genomics, Inc. (NASDAQ:TXG) Short Interest Update

10x Genomics, Inc. (NASDAQ:TXG) saw a large increase in short interest in February. As of February 15th, there was short interest totalling 11,320,000 shares, an increase of 34.4% from the January 31st total of 8,420,000 shares. Based on an average trading volume of 2,280,000 shares, the days-to-cover ratio is presently 5.0 days.

Insider Buying and Selling at 10x Genomics

In related news, Director Alan Mateo acquired 40,000 shares of the stock in a transaction dated Friday, February 21st. The stock was acquired at an average cost of $11.14 per share, with a total value of $445,600.00. Following the completion of the transaction, the director now owns 61,691 shares in the company, valued at $687,237.74. This represents a 184.41 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Serge Saxonov sold 5,092 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $56,368.44. Following the transaction, the chief executive officer now directly owns 879,482 shares of the company’s stock, valued at approximately $9,735,865.74. This represents 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 currently owned by corporate insiders.

Institutional Trading of 10x Genomics

Institutional investors have recently bought and sold shares of the company. Creative Planning acquired a new position in shares of 10x Genomics during the 3rd quarter worth $214,000. International Assets Investment Management LLC acquired a new stake in 10x Genomics in the 3rd quarter valued at about $438,000. Wealth Enhancement Advisory Services LLC grew its stake in 10x Genomics by 84.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 23,952 shares of the company’s stock valued at $541,000 after acquiring an additional 10,935 shares during the last quarter. ARK Investment Management LLC grew its stake in 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 acquiring an additional 1,436,582 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in 10x Genomics in the 3rd quarter valued at about $35,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TXG has been the subject of a number of research analyst reports. Canaccord Genuity Group lowered their price target on 10x Genomics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Morgan Stanley lowered their price target on 10x Genomics from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Stifel Nicolaus reduced their price objective on 10x Genomics from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of 10x Genomics in a research note on Wednesday, February 19th. Finally, Leerink Partners cut 10x Genomics from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $25.00 to $12.00 in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, 10x Genomics has a consensus rating of “Hold” and a consensus target price of $20.21.

10x Genomics Stock Up 3.9 %

Shares of NASDAQ:TXG opened at $10.93 on Thursday. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -7.19 and a beta of 1.85. The firm’s 50-day simple moving average is $13.75 and its 200-day simple moving average is $16.55. 10x Genomics has a fifty-two week low of $9.27 and a fifty-two week high of $44.21.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates 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%. On average, research analysts forecast that 10x Genomics will post -1.43 EPS for the current year.

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.