10x Genomics (NASDAQ:TXG) Shares Gap Up – Time to Buy?

10x Genomics, Inc. (NASDAQ:TXG)’s share price gapped up prior to trading on Monday . The stock had previously closed at $8.30, but opened at $8.48. 10x Genomics shares last traded at $8.48, with a volume of 221,658 shares traded.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a research report on Thursday. UBS Group dropped their price target 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. Leerink Partnrs downgraded shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 13th. Morgan Stanley reduced their price objective on 10x Genomics from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. reduced their target price on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $19.79.

10x Genomics Stock Up 0.6 %

The stock has a market capitalization of $1.02 billion, a P/E ratio of -5.49 and a beta of 2.01. The stock’s 50 day moving average price is $9.47 and its 200-day moving average price is $13.04.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate 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%. Analysts anticipate that 10x Genomics, Inc. will post -1.43 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Trading of 10x Genomics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Summit Trail Advisors LLC lifted its position in shares of 10x Genomics by 251.1% during the first quarter. Summit Trail Advisors LLC now owns 36,039 shares of the company’s stock worth $315,000 after purchasing an additional 25,775 shares in the last quarter. Diversified Trust Co lifted its position in shares of 10x Genomics by 60.8% during the 1st quarter. Diversified Trust Co now owns 57,236 shares of the company’s stock worth $500,000 after buying an additional 21,634 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of 10x Genomics by 9.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 31,061 shares of the company’s stock valued at $271,000 after buying an additional 2,564 shares in the last quarter. SG Americas Securities LLC grew its position in shares of 10x Genomics by 12.8% in the 1st quarter. SG Americas Securities LLC now owns 82,406 shares of the company’s stock valued at $719,000 after buying an additional 9,360 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in 10x Genomics by 81.8% in the first quarter. GAMMA Investing LLC now owns 3,586 shares of the company’s stock valued at $31,000 after acquiring an additional 1,614 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.