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

10x Genomics (NASDAQ:TXG) Director John Stuelpnagel sold 20,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $57.75, for a total value of $1,155,000.00. Following the completion of the sale, the director owned 348,436 shares of the company’s stock, valued at $20,122,179. This trade represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

10x Genomics Price Performance

Shares of NASDAQ TXG opened at $58.15 on Friday. The firm has a market cap of $7.38 billion, a price-to-earnings ratio of -98.56 and a beta of 2.03. The stock’s fifty day moving average price is $41.42 and its two-hundred day moving average price is $28.68. 10x Genomics has a one year low of $11.16 and a one year high of $60.69.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. 10x Genomics had a negative return on equity of 9.41% and a negative net margin of 12.18%.The company had revenue of $151.04 million during the quarter, compared to the consensus estimate of $146.67 million. During the same quarter last year, the firm earned $0.28 earnings per share. The company’s revenue was down 12.7% on a year-over-year basis. On average, equities analysts anticipate that 10x Genomics will post -0.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On 10x Genomics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Intech Investment Management LLC lifted its holdings in shares of 10x Genomics by 1.4% during the 4th quarter. Intech Investment Management LLC now owns 40,047 shares of the company’s stock worth $653,000 after acquiring an additional 567 shares during the period. Certuity LLC increased its stake in 10x Genomics by 4.7% in the fourth quarter. Certuity LLC now owns 20,204 shares of the company’s stock valued at $330,000 after acquiring an additional 904 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in 10x Genomics by 16.4% during the first quarter. EverSource Wealth Advisors LLC now owns 7,186 shares of the company’s stock valued at $153,000 after purchasing an additional 1,012 shares in the last quarter. Kera Capital Partners Inc. raised its position in 10x Genomics by 2.3% during the first quarter. Kera Capital Partners Inc. now owns 48,937 shares of the company’s stock valued at $1,039,000 after purchasing an additional 1,108 shares in the last quarter. Finally, Elevation Wealth Partners LLC lifted its stake in 10x Genomics by 332.3% during the second quarter. Elevation Wealth Partners LLC now owns 1,487 shares of the company’s stock worth $57,000 after purchasing an additional 1,143 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on TXG. Stephens increased their target price on shares of 10x Genomics from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday. Canaccord Genuity Group boosted their price target on 10x Genomics from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday. Bank of America increased their price target on 10x Genomics from $21.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Barclays raised their price objective on 10x Genomics from $30.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Finally, Morgan Stanley lifted their price objective on 10x Genomics from $37.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $38.31.

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.