10x Genomics (NASDAQ:TXG) Director John Stuelpnagel Sells 20,000 Shares of Stock

10x Genomics (NASDAQ:TXG) Director John Stuelpnagel sold 20,000 shares of 10x Genomics stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $61.75, for a total transaction of $1,235,000.00. Following the completion of the transaction, the director directly owned 328,436 shares in the company, valued at approximately $20,280,923. This represents a 5.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

10x Genomics Trading Up 4.7%

Shares of 10x Genomics stock opened at $65.60 on Wednesday. The firm has a fifty day simple moving average of $51.97 and a 200-day simple moving average of $34.09. The stock has a market capitalization of $8.55 billion, a price-to-earnings ratio of -111.18 and a beta of 2.08. 10x Genomics has a 1-year low of $11.16 and a 1-year high of $66.94.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.10. The business had revenue of $151.04 million for the quarter, compared to analyst estimates of $146.67 million. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.33%. 10x Genomics’s revenue was down 12.7% compared to the same quarter last year. During the same period last year, the business posted $0.28 EPS. As a group, research analysts predict that 10x Genomics will post -0.75 earnings per share for the current year.

Institutional Investors Weigh In On 10x Genomics

Several hedge funds have recently made changes to their positions in the stock. 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 worth $39,000 after buying an additional 1,470 shares in the last quarter. Fifth Third Bancorp acquired a new position in 10x Genomics in the 1st quarter valued at approximately $50,000. Elevation Wealth Partners LLC raised its holdings in 10x Genomics by 332.3% in the 2nd quarter. Elevation Wealth Partners LLC now owns 1,487 shares of the company’s stock valued at $57,000 after acquiring an additional 1,143 shares in the last quarter. Van ECK Associates Corp lifted its position 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 acquiring an additional 1,695 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position 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 acquiring an additional 5,025 shares during the period. Institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TXG. Stifel Nicolaus set a $50.00 price objective on 10x Genomics in a research report on Friday, August 7th. Barclays increased their target price on 10x Genomics from $30.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Morgan Stanley lifted their price target on 10x Genomics from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Leerink Partners upped their price target on 10x Genomics from $23.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday, July 17th. Finally, Citigroup increased their price objective on 10x Genomics from $45.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $40.57.

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.