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

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

Wall Street Analyst Weigh In

Several research firms have recently commented on TXG. Stephens restated an “overweight” rating and set a $30.00 price objective on shares of 10x Genomics in a report on Wednesday, September 4th. JPMorgan Chase & Co. downgraded shares of 10x Genomics from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $40.00 to $20.00 in a report on Thursday, July 18th. Morgan Stanley reduced their price objective on shares of 10x Genomics from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. Canaccord Genuity Group lowered their target price on shares of 10x Genomics from $50.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, July 23rd. Finally, Jefferies Financial Group upgraded 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.60.

Insider Buying and Selling

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

Hedge Funds Weigh In On 10x Genomics

A number of institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its position in 10x Genomics by 113.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock valued at $26,000 after purchasing an additional 371 shares in the last quarter. First Horizon Advisors Inc. grew its position in 10x Genomics by 74.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock worth $37,000 after acquiring an additional 808 shares during the last quarter. Covestor Ltd lifted its position in 10x Genomics by 501.7% in the first quarter. Covestor Ltd now owns 1,047 shares of the company’s stock valued at $39,000 after purchasing an additional 873 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of 10x Genomics in the first quarter worth $71,000. Finally, Federated Hermes Inc. purchased a new position in shares of 10x Genomics in the second quarter valued at about $136,000. Institutional investors own 84.68% of the company’s stock.

10x Genomics Stock Performance

Shares of NASDAQ TXG opened at $22.67 on Monday. 10x Genomics has a fifty-two week low of $15.28 and a fifty-two week high of $57.90. The stock has a market cap of $2.70 billion, a PE ratio of -10.17 and a beta of 1.85. The stock has a fifty day moving average of $21.43 and a 200-day moving average of $24.49.

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

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.