10 times Genomics, Inc. (NASDAQ:TXG) is seeing a significant decrease in short interest

10x Genomics, Inc. (NASDAQ:TXG – Get Free Report ) was the target of a large decline in short interest in September. As of September 15th, there was short interest totaling 7,810,000 shares, a decrease of 12.6% from the August 31st total of 8,940,000 shares. Based on an average daily trading volume of 1,850,000 shares, the days-to-cover ratio is currently 4.2 days.

Analysts on Wall Street are forecasting an increase

A number of equities research analysts have recently commented on TXG shares. Goldman Sachs Group decreased their price objective on shares of 10x Genomics from $26.00 to $16.00 and set a “sell” rating for the company in a research report on Tuesday, July 9th. Leerink Partners started coverage on 10x Genomics in a report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price objective on the stock. UBS Group cut their price target on 10x Genomics from $30.00 to $25.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Guggenheim reaffirmed a “neutral” rating on shares of 10x Genomics in a research note on Tuesday, June 25th. Finally, Canaccord Genuity Group cut their price target on shares of 10x Genomics from $50.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, July 23rd . One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. 10x Genomics currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.60, according to MarketBeat.

Get our latest analysis on TXG

10x genomics trading up 1.7%

Shares of TXG opened at $22.67 on Friday. 10x Genomics has a 12-month low of $15.28 and a 12-month high of $57.90. The firm has a market cap of $2.73 billion, a P/E ratio of -10.17 and a beta of 1.85. The stock’s fifty-day simple moving average is $21.43, and its 200-day simple moving average is $24.59.

10x Genomics (NASDAQ:TXG – Get Your Free Report ) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.15. The company had revenue of $153.10 million for the quarter, compared to the consensus estimate of $150.90 million. 10x Genomics had a negative return on equity of 28.23% and a negative net margin of 37.90%. sell-side analysts forecast that 10x Genomics will post -1.32 earnings per share for the current year.

Insider trading at 10x Genomics

In related news, CFO Justin J. Mcanear sold 2,961 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $66,711.33. Following the transaction, the chief financial officer now directly owns 143,242 shares of the company’s stock, valued at approximately $3,227,242.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Justin J. Mcanear sold 2,961 shares of 10x Genomics stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $66,711.33. Following the transaction, the chief financial officer now directly owns 143,242 shares of the company’s stock, valued at approximately $3,227,242.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this hyperlink. Also, insider Benjamin J. Hindson sold 4,351 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $98,028.03. Following the completion of the sale, the insider now owns 345,704 shares of the company’s stock, valued at approximately $7,788,711.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,061 shares of company stock valued at $316,794. 10.03% of shares are currently owned by insiders.

Institutional investors weigh 10x Genomics

Several large investors have recently made changes to their positions in the business. Algert Global LLC boosted its position in shares of 10x Genomics by 39.4% in the second quarter. Algert Global LLC now owns 117,964 shares of the company’s stock worth $2,294,000 after purchasing an additional 33,364 shares during the period. Susquehanna Fundamental Investments LLC boosted its holdings in Genomics by 10x by 166.7% in the second quarter. Susquehanna Fundamental Investments LLC now owns 201,671 shares of the company’s stock worth $3,923,000 after acquiring an additional 126,052 shares during the period. Deerfield Management Company LP Series C purchased a new stake in 10x Genomics in the second quarter valued at about $11,612,000. AQR Capital Management LLC boosted its stake in 10x Genomics by 230.9% in the second quarter. AQR Capital Management LLC now owns 315,180 shares of the company’s stock valued at $6,130,000 after buying an additional 219,945 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in 10x Genomics by 1.1% during the second quarter. Squarepoint Ops LLC now owns 515,883 shares of the company’s stock valued at $10,034,000 after buying an additional 5,720 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s shares.

10x Genomics Company Profile

(Get a free report)

10x Genomics, Inc, a life science technology company, develops and sells instruments, supplies and software for the analysis of biological systems in the Americas, Europe, the Middle East, Africa, China and Asia Pacific. The company provides chrome tools, chrome connector and chrome controller, microfluidic chips, slides, reagents and other consumable products.

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