Insider Buying: 10x Genomics, Inc. (NASDAQ:TXG) Director Buys 40,000 Shares of Stock

10x Genomics, Inc. (NASDAQ:TXG) Director Alan Mateo purchased 40,000 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was acquired at an average price 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 approximately $687,237.74. This trade represents a 184.41 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

10x Genomics Stock Down 7.5 %

Shares of NASDAQ TXG opened at $10.78 on Friday. The firm has a market cap of $1.32 billion, a PE ratio of -7.09 and a beta of 1.85. 10x Genomics, Inc. has a 12-month low of $10.63 and a 12-month high of $48.42. The company’s fifty day simple moving average is $14.07 and its 200 day simple moving average is $16.87.

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on TXG shares. Morgan Stanley decreased their price target on shares of 10x Genomics from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Leerink Partners cut shares of 10x Genomics from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $25.00 to $12.00 in a research report on Thursday, February 13th. Stifel Nicolaus decreased their price objective on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. UBS Group decreased their price objective on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Finally, Leerink Partnrs cut shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, 10x Genomics presently has a consensus rating of “Hold” and a consensus target price of $20.57.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TXG. RA Capital Management L.P. bought a new position in shares of 10x Genomics in the fourth quarter valued at $47,092,000. Assenagon Asset Management S.A. bought a new position in shares of 10x Genomics in the fourth quarter valued at $26,308,000. ARK Investment Management LLC lifted its stake in shares of 10x Genomics by 15.4% in the third quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company’s stock valued at $242,743,000 after buying an additional 1,436,582 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of 10x Genomics in the third quarter valued at $27,778,000. Finally, D. E. Shaw & Co. Inc. purchased a new stake in shares of 10x Genomics in the fourth quarter valued at about $17,499,000. 84.68% of the stock is owned by institutional investors.

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.