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

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

10x Genomics Stock Performance

Shares of 10x Genomics stock traded up $0.56 on Wednesday, reaching $11.08. 1,769,536 shares of the stock were exchanged, compared to its average volume of 2,697,161. The firm has a market cap of $1.36 billion, a PE ratio of -7.28 and a beta of 1.85. The firm’s 50 day moving average is $13.82 and its 200-day moving average is $16.59. 10x Genomics has a one year low of $9.27 and a one year high of $44.21.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.08). 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. On average, equities research analysts expect that 10x Genomics will post -1.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TXG. JPMorgan Chase & Co. lowered their price target on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Barclays reduced their target price on 10x Genomics from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. UBS Group lowered their target price on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Morgan Stanley reduced their price target on shares of 10x Genomics from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Finally, Leerink Partners cut shares of 10x Genomics from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $25.00 to $12.00 in a research report 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 assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $20.21.

Insider Buying and Selling at 10x Genomics

In other news, CEO Serge Saxonov sold 5,092 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $56,368.44. Following the sale, the chief executive officer now directly owns 879,482 shares of the company’s stock, valued at $9,735,865.74. This represents a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alan Mateo bought 40,000 shares of the stock in a transaction dated Friday, February 21st. The stock was purchased at an average cost of $11.14 per share, with a total value of $445,600.00. Following the completion of the purchase, the director now directly owns 61,691 shares in the company, valued at approximately $687,237.74. This trade represents a 184.41 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 10.03% of the company’s stock.

Hedge Funds Weigh In On 10x Genomics

Several hedge funds and other institutional investors have recently bought and sold shares of TXG. Capital Performance Advisors LLP bought a new position in shares of 10x Genomics during the 3rd quarter worth about $35,000. Signaturefd LLC raised its stake in 10x Genomics by 424.6% during the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock worth $26,000 after buying an additional 1,452 shares during the period. GF Fund Management CO. LTD. bought a new position in 10x Genomics in the fourth quarter worth approximately $32,000. Venturi Wealth Management LLC grew its stake in 10x Genomics by 1,108.9% in the third quarter. Venturi Wealth Management LLC now owns 2,442 shares of the company’s stock valued at $55,000 after acquiring an additional 2,240 shares during the period. Finally, First Horizon Advisors Inc. increased its holdings in shares of 10x Genomics by 53.3% during the third quarter. First Horizon Advisors Inc. now owns 2,910 shares of the company’s stock valued at $66,000 after acquiring an additional 1,012 shares in 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.