Stock Traders Buy Large Volume 10x Genomic Puts (NASDAQ: TXG)

10x Genomics, Inc. (NASDAQ: TXG) saw unusually large options trading on Friday. Investors bought 4,599 put options on the stock. This is an 881% increase over the average daily volume of 469 puts.

Separately, insider Benjamin J. Hindson sold 351 shares of the company in a transaction dated Monday, November 22. The stock was sold for an average price of $ 148.38, for a total trade of $ 52,081.38. The transaction has been disclosed in a legal file with the Securities & Exchange Commission, which is available through this link. Additionally, insider Benjamin J. Hindson sold 41,666 shares of the company in a trade dated Monday, November 1. The stock was sold for an average price of $ 163.58, for a total value of $ 6,815,724.28. Disclosure of this sale can be found here. Insiders have sold 275,402 shares of the company valued at $ 42,024,650 in the past 90 days. Company insiders own 11.57% of the company’s shares.

Hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. BlackRock Inc. increased its holdings of 10x Genomics shares by 42.2% during the 2nd quarter. BlackRock Inc. now owns 7,549,175 shares of the company valued at $ 1,478,280,000 after acquiring an additional 2,242,036 shares during the last quarter. Vigilant Capital Management LLC increased its stake in 10x Genomics by 2.4% during the 3rd quarter. Vigilant Capital Management LLC now owns 63,488 shares of the company valued at $ 9,243,000 after purchasing an additional 1,461 shares during the period. Bank of Montreal Can increased its holdings in 10x Genomics by 2.4% in the second quarter. Bank of Montreal Can now owns 37,839 shares of the company valued at $ 7,628,000 after purchasing an additional 889 shares during the period. Jasper Ridge Partners LP increased its holdings in 10x Genomics by 12.2% during the second quarter. Jasper Ridge Partners LP now owns 23,433 shares of the company valued at $ 4,589,000 after purchasing an additional 2,544 shares during the period. Finally, Tributary Capital Management LLC acquired a new position in 10x Genomics during the 3rd quarter valued at approximately $ 830,000. 77.50% of the shares are currently held by institutional investors.

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Several research analysts recently commented on the company. Zacks Investment Research reduced 10x Genomics from a “buy” rating to a “keep” rating in a research report released on Friday, October 22. National Bank Financial began covering 10x Genomics in a research report on Thursday, September 16. They set a “sector performance” rating and a price target of $ 24.00 for the company. Morgan Stanley lowered its 10x Genomics price target from $ 215.00 to $ 205.00 and set an “overweight” rating on the stock in a research note on Thursday, November 4. Finally, Bank of America downgraded 10x Genomics from a “buy” rating to a “neutral” rating and set a price target of $ 180.00 for the share. in a research note on Tuesday, September 14. Three equity research analysts rated the stock with a conservation rating and five gave the stock a buy rating. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $ 169.29.

10x Genomics stock traded down $ 2.98 at midday on Friday, reaching $ 127.79. 600,521 shares of the company were traded, for an average volume of 663,524. The company has a fifty-day simple moving average of $ 149.88 and a 200-day simple moving average of $ 163.35. 10x Genomics has a 12-month low of $ 125.60 and a 12-month high of $ 208.99. The company has a market cap of $ 14.28 billion, a PE ratio of -30.21 and a beta of 1.38.

10x Genomics (NASDAQ: TXG) last released its results on Wednesday, November 3. The company reported ($ 0.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($ 0.18) by $ 0.03. The company posted revenue of $ 125.30 million for the quarter, compared to a consensus estimate of $ 124.07 million. 10x Genomics recorded a negative return on equity of 6.30% and a negative net margin of 99.17%. In the same quarter of last year, the company posted ($ 0.33) EPS. As a group, research analysts expect 10x Genomics to post EPS of -0.42 for the current year.

About 10x the genomics

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

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