10x Genomics (NASDAQ:TXG) Shares Up 5.9% – Still a Buy?

10x Genomics (NASDAQ:TXG)’s share price shot up 5.9% during mid-day trading on Monday . The company traded as high as $23.40 and last traded at $23.3720. 676,008 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 2,561,802 shares. The stock had previously closed at $22.08.

Analyst Ratings Changes

A number of research firms recently issued reports on TXG. Deutsche Bank Aktiengesellschaft set a $17.00 price target on shares of 10x Genomics and gave the company a “hold” rating in a research note on Friday, February 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of 10x Genomics in a research note on Friday, March 27th. UBS Group lifted their price target on shares of 10x Genomics from $14.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. William Blair raised shares of 10x Genomics from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 31st. Finally, Canaccord Genuity Group raised their price objective on 10x Genomics from $22.00 to $32.00 and gave the company a “buy” rating in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.82.

10x Genomics Trading Down 5.5%

The business has a fifty day simple moving average of $21.25 and a two-hundred day simple moving average of $18.61. The company has a market cap of $2.58 billion, a PE ratio of -57.71 and a beta of 2.17.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Thursday, February 12th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. The company had revenue of $166.03 million for the quarter, compared to analyst estimates of $160.35 million. 10x Genomics had a negative return on equity of 6.89% and a negative net margin of 6.77%.The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.40) EPS. Equities analysts expect that 10x Genomics will post -0.82 EPS for the current year.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, insider Benjamin J. Hindson sold 7,826 shares of the firm’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $18.58, for a total value of $145,407.08. Following the transaction, the insider owned 424,779 shares in the company, valued at approximately $7,892,393.82. This trade represents a 1.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Adam Taich sold 8,968 shares of the firm’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $18.58, for a total value of $166,625.44. Following the completion of the transaction, the chief financial officer owned 288,417 shares in the company, valued at $5,358,787.86. The trade was a 3.02% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 46,426 shares of company stock worth $902,695. Corporate insiders own 10.03% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Geneos Wealth Management Inc. acquired a new position in shares of 10x Genomics during the 4th quarter valued at about $38,000. Larson Financial Group LLC boosted its position in shares of 10x Genomics by 164.4% during the 4th quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock valued at $39,000 after acquiring an additional 1,470 shares during the last quarter. True Wealth Design LLC boosted its position in shares of 10x Genomics by 26.4% during the 3rd quarter. True Wealth Design LLC now owns 4,534 shares of the company’s stock valued at $53,000 after acquiring an additional 948 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new position in shares of 10x Genomics during the 3rd quarter valued at about $56,000. Finally, Van ECK Associates Corp boosted its position in shares of 10x Genomics by 85.9% during the 4th quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock valued at $60,000 after acquiring an additional 1,695 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

About 10x Genomics

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.