10x Genomics (NASDAQ:TXG) Director Sells $186,741.49 in Stock

10x Genomics (NASDAQ:TXG) Director Shehnaaz Suliman sold 5,723 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $32.63, for a total value of $186,741.49. Following the completion of the sale, the director directly owned 31,722 shares in the company, valued at $1,035,088.86. This represents a 15.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

10x Genomics Price Performance

Shares of 10x Genomics stock opened at $34.76 on Friday. The business has a fifty day simple moving average of $25.61 and a 200-day simple moving average of $21.50. 10x Genomics has a fifty-two week low of $10.48 and a fifty-two week high of $35.65. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of -204.47 and a beta of 2.12.

10x Genomics (NASDAQ:TXG) last released its earnings results on Thursday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.19. 10x Genomics had a negative return on equity of 2.86% and a negative net margin of 3.55%.The firm had revenue of $150.84 million for the quarter, compared to analyst estimates of $146.41 million. During the same period in the previous year, the company earned ($0.28) earnings per share. 10x Genomics’s revenue was up 9.4% compared to the same quarter last year. Analysts anticipate that 10x Genomics will post -0.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Stifel Nicolaus boosted their target price on shares of 10x Genomics from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. JPMorgan Chase & Co. raised their target price on shares of 10x Genomics from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Weiss Ratings restated a “sell (d-)” rating on shares of 10x Genomics in a research report on Friday, March 27th. Morgan Stanley upped their price target on 10x Genomics from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Finally, Citigroup increased their price objective on 10x Genomics from $18.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, April 7th. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $23.17.

Institutional Investors Weigh In On 10x Genomics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TXG. Edgestream Partners L.P. purchased a new position in shares of 10x Genomics during the 1st quarter valued at $1,233,000. Bull Harbor Capital LLC acquired a new position in shares of 10x Genomics in the first quarter worth $248,000. EverSource Wealth Advisors LLC raised its holdings in shares of 10x Genomics by 16.4% during the first quarter. EverSource Wealth Advisors LLC now owns 7,186 shares of the company’s stock worth $153,000 after acquiring an additional 1,012 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of 10x Genomics by 3.5% during the first quarter. The Manufacturers Life Insurance Company now owns 49,048 shares of the company’s stock worth $1,041,000 after acquiring an additional 1,661 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its position in 10x Genomics by 16.0% during the first quarter. Quantinno Capital Management LP now owns 5,411,761 shares of the company’s stock valued at $114,892,000 after purchasing an additional 744,558 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

About 10x Genomics

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.