10x Genomics (NASDAQ:TXG) Director Sells 5,723 Shares

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

10x Genomics Price Performance

NASDAQ:TXG traded up $2.63 on Thursday, reaching $34.76. The stock had a trading volume of 3,608,079 shares, compared to its average volume of 2,747,445. The company has a market cap of $4.41 billion, a price-to-earnings ratio of -204.47 and a beta of 2.12. The firm’s fifty day moving average is $25.12 and its two-hundred day moving average is $21.29. 10x Genomics has a 12-month low of $10.48 and a 12-month high of $35.65.

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on TXG. Morgan Stanley boosted 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. Canaccord Genuity Group raised their price objective on 10x Genomics from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Stifel Nicolaus lifted their price objective on 10x Genomics from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Bank of America upped their target price on 10x Genomics from $21.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, April 20th. Finally, Barclays increased their target price on 10x Genomics from $22.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 14th. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.17.

Hedge Funds Weigh In On 10x Genomics

A number of large investors have recently bought and sold shares of TXG. Geneos Wealth Management Inc. purchased a new position in shares of 10x Genomics in the 4th quarter worth $38,000. Larson Financial Group LLC grew its position in 10x Genomics by 164.4% during the fourth quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock valued at $39,000 after acquiring an additional 1,470 shares during the period. Fifth Third Bancorp acquired a new stake in 10x Genomics during the first quarter worth about $50,000. Van ECK Associates Corp raised its holdings in shares of 10x Genomics by 85.9% in the 4th quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock worth $60,000 after purchasing an additional 1,695 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of 10x Genomics by 203.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,490 shares of the company’s stock worth $87,000 after purchasing an additional 5,025 shares during the period. 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.