Investors Buy Large Volume of 10x Genomics Put Options (NASDAQ:TXG)

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10x Genomics, Inc. (NASDAQ:TXG) was the recipient of unusually large options trading on Friday. Stock traders purchased 4,599 put options on the company. This represents an increase of approximately 881% compared to the average volume of 469 put options.

Shares of NASDAQ:TXG opened at $127.79 on Friday. The company has a market cap of $14.28 billion, a P/E ratio of -30.21 and a beta of 1.38. 10x Genomics has a 52 week low of $125.60 and a 52 week high of $208.99. The business has a fifty day simple moving average of $149.88 and a 200-day simple moving average of $163.35.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Wednesday, November 3rd. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.03. 10x Genomics had a negative return on equity of 6.30% and a negative net margin of 99.17%. The firm had revenue of $125.30 million during the quarter, compared to the consensus estimate of $124.07 million. During the same quarter in the previous year, the business earned ($0.33) earnings per share. Research analysts forecast that 10x Genomics will post -0.42 earnings per share for the current year.

A number of research firms recently weighed in on TXG. Zacks Investment Research downgraded 10x Genomics from a “buy” rating to a “hold” rating in a research note on Friday, October 22nd. Morgan Stanley decreased their price target on 10x Genomics from $215.00 to $205.00 and set an “overweight” rating on the stock in a research note on Thursday, November 4th. National Bank Financial initiated coverage on 10x Genomics in a research note on Thursday, September 16th. They issued a “sector perform” rating and a $24.00 price target on the stock. Finally, Bank of America cut 10x Genomics from a “buy” rating to a “neutral” rating and set a $180.00 price objective for the company. in a report on Tuesday, September 14th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $169.29.

In other 10x Genomics news, CFO Justin J. Mcanear sold 10,000 shares of 10x Genomics stock in a transaction that occurred on Monday, January 3rd. The stock was sold at an average price of $146.07, for a total value of $1,460,700.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Serge Saxonov sold 15,000 shares of 10x Genomics stock in a transaction that occurred on Tuesday, January 4th. The shares were sold at an average price of $141.33, for a total value of $2,119,950.00. The disclosure for this sale can be found here. Insiders have sold a total of 275,402 shares of company stock worth $42,024,650 in the last 90 days. 11.57% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Berman Capital Advisors LLC lifted its stake in shares of 10x Genomics by 85.9% in the third quarter. Berman Capital Advisors LLC now owns 251 shares of the company’s stock worth $36,000 after acquiring an additional 116 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in shares of 10x Genomics by 100.0% in the second quarter. First Horizon Advisors Inc. now owns 234 shares of the company’s stock worth $45,000 after acquiring an additional 117 shares in the last quarter. CI Investments Inc. acquired a new position in shares of 10x Genomics in the third quarter worth about $51,000. Itau Unibanco Holding S.A. acquired a new position in shares of 10x Genomics in the second quarter worth about $65,000. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of 10x Genomics by 25.1% in the third quarter. O Shaughnessy Asset Management LLC now owns 498 shares of the company’s stock worth $73,000 after acquiring an additional 100 shares in the last quarter. 77.50% of the stock is owned by institutional investors.

About 10x Genomics

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in North America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium and chromium connect instruments, microfluidic chips, slides, reagents, and other consumables products.

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