10x Genomics, Inc. (NASDAQ:TXG) Short Interest Up 21.6% in February

10x Genomics, Inc. (NASDAQ:TXG) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 13,770,000 shares, an increase of 21.6% from the February 13th total of 11,320,000 shares. Approximately 12.6% of the company’s shares are sold short. Based on an average daily trading volume, of 2,480,000 shares, the days-to-cover ratio is presently 5.6 days.

Insider Buying and Selling at 10x Genomics

In other news, Director Alan Mateo acquired 40,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were purchased at an average price of $11.14 per share, for a total transaction of $445,600.00. Following the acquisition, the director now owns 61,691 shares of the company’s stock, valued at $687,237.74. This represents a 184.41 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Serge Saxonov sold 5,092 shares of the 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 in the company, valued at approximately $9,735,865.74. The trade was a 0.58 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its position in 10x Genomics by 19.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 28,497 shares of the company’s stock valued at $409,000 after purchasing an additional 4,545 shares during the last quarter. Mackenzie Financial Corp increased its position in 10x Genomics by 69.1% in the 4th quarter. Mackenzie Financial Corp now owns 53,390 shares of the company’s stock valued at $767,000 after acquiring an additional 21,817 shares during the period. GF Fund Management CO. LTD. purchased a new stake in 10x Genomics during the 4th quarter valued at approximately $32,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in 10x Genomics by 10.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,116,573 shares of the company’s stock worth $30,394,000 after acquiring an additional 193,588 shares during the period. Finally, Voloridge Investment Management LLC grew its stake in shares of 10x Genomics by 12.1% in the 4th quarter. Voloridge Investment Management LLC now owns 1,585,965 shares of the company’s stock valued at $22,774,000 after purchasing an additional 171,161 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

10x Genomics Trading Down 2.1 %

Shares of NASDAQ TXG traded down $0.23 during mid-day trading on Tuesday, reaching $10.53. The company had a trading volume of 294,220 shares, compared to its average volume of 1,967,329. The firm has a 50 day simple moving average of $13.11 and a two-hundred day simple moving average of $15.84. 10x Genomics has a 52-week low of $9.27 and a 52-week high of $39.30. The stock has a market cap of $1.29 billion, a P/E ratio of -6.95 and a beta of 1.93.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data 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 expect that 10x Genomics will post -1.43 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. UBS Group cut their target price on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. JPMorgan Chase & Co. reduced their price objective on 10x Genomics from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Barclays decreased their target price on 10x Genomics from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Canaccord Genuity Group cut their price target on 10x Genomics from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Citigroup decreased their price objective on 10x Genomics from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. One 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $20.21.

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.