Short Interest in 10x Genomics (NASDAQ:TXG) Grows By 1,022.8%

10x Genomics (NASDAQ:TXG) was the target of a large increase in short interest in July. As of July 15th, there was short interest totaling 14,260,000 shares, anincreaseof1,022.8% from the June 30th total of 1,270,000 shares. Based on an average daily trading volume, of 3,860,000 shares, the short-interest ratio is currently 3.7 days. Based on an average daily trading volume, of 3,860,000 shares, the short-interest ratio is currently 3.7 days.

Insider Activity

In related news, CEO Serge Saxonov sold 9,343 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total transaction of $77,546.90. Following the completion of the sale, the chief executive officer owned 1,083,625 shares in the company, valued at $8,994,087.50. This represents a 0.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Adam Taich sold 4,044 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $8.30, for a total transaction of $33,565.20. Following the sale, the chief financial officer owned 331,588 shares of the company’s stock, valued at approximately $2,752,180.40. This represents a 1.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,872 shares of company stock worth $173,238. Corporate insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Several institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in shares of 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 purchasing an additional 1,614 shares during the period. Invesco Ltd. boosted its stake in shares of 10x Genomics by 21.8% in the fourth quarter. Invesco Ltd. now owns 118,067 shares of the company’s stock valued at $1,695,000 after purchasing an additional 21,134 shares during the period. Deutsche Bank AG boosted its stake in shares of 10x Genomics by 35.3% in the fourth quarter. Deutsche Bank AG now owns 10,190 shares of the company’s stock valued at $146,000 after purchasing an additional 2,657 shares during the period. Raymond James Financial Inc. purchased a new position in shares of 10x Genomics in the fourth quarter valued at $431,000. Finally, Cetera Investment Advisers boosted its stake in shares of 10x Genomics by 22.7% in the fourth quarter. Cetera Investment Advisers now owns 19,898 shares of the company’s stock valued at $286,000 after purchasing an additional 3,679 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

10x Genomics Stock Performance

TXG opened at $13.08 on Monday. The company’s 50 day simple moving average is $11.51 and its 200 day simple moving average is $10.82. 10x Genomics has a 1 year low of $6.78 and a 1 year high of $24.76. The stock has a market capitalization of $1.61 billion, a PE ratio of -10.06 and a beta of 2.03.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.09. 10x Genomics had a negative net margin of 25.14% and a negative return on equity of 23.22%. The firm had revenue of $154.88 million for the quarter, compared to analyst estimates of $131.91 million. During the same quarter last year, the firm posted ($0.50) earnings per share. 10x Genomics’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, sell-side analysts expect that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TXG. Weiss Ratings restated a “sell (e+)” rating on shares of 10x Genomics in a research report on Tuesday, July 29th. Wall Street Zen downgraded shares of 10x Genomics from a “buy” rating to a “hold” rating in a research report on Saturday, June 28th. JPMorgan Chase & Co. cut their price objective on shares of 10x Genomics from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, May 9th. Barclays restated an “overweight” rating and set a $13.00 price objective (up previously from $12.00) on shares of 10x Genomics in a research report on Tuesday, June 24th. Finally, Bank of America upped their price objective on shares of 10x Genomics from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.23.

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.