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

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

10x Genomics Trading Down 2.1 %

TXG traded down $0.23 on Tuesday, hitting $10.53. 294,220 shares of the company’s stock were exchanged, compared to its average volume of 1,967,329. 10x Genomics has a fifty-two week low of $9.27 and a fifty-two week high of $39.30. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -6.95 and a beta of 1.93. The firm has a 50-day moving average price of $13.11 and a 200-day moving average price of $15.84.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates 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 predict that 10x Genomics will post -1.43 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Serge Saxonov sold 5,092 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $11.07, for a total transaction of $56,368.44. Following the sale, the chief executive officer now directly owns 879,482 shares of the company’s stock, valued at $9,735,865.74. This trade represents a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Benjamin J. Hindson sold 4,573 shares of 10x Genomics stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $11.07, for a total value of $50,623.11. Following the transaction, the insider now owns 335,324 shares of the company’s stock, valued at approximately $3,712,036.68. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On 10x Genomics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. RA Capital Management L.P. acquired a new position in 10x Genomics during the fourth quarter worth $47,092,000. Assenagon Asset Management S.A. acquired a new position in shares of 10x Genomics during the 4th quarter valued at about $26,308,000. Point72 Asset Management L.P. purchased a new stake in shares of 10x Genomics in the third quarter valued at about $27,778,000. D. E. Shaw & Co. Inc. acquired a new stake in 10x Genomics during the fourth quarter worth about $17,499,000. Finally, ARK Investment Management LLC raised its stake in 10x Genomics by 11.1% during the fourth quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock worth $171,517,000 after purchasing an additional 1,193,712 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Barclays decreased their target price on shares of 10x Genomics from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. 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 lowered their target price on shares of 10x Genomics from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. JPMorgan Chase & Co. cut their price target on 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, UBS Group lowered their price target on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.