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

10x Genomics (NASDAQ:TXG) Director John Stuelpnagel sold 20,000 shares of the business’s stock in a transaction dated 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 transaction, the director owned 348,436 shares in the company, valued at $20,122,179. This represents a 5.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

10x Genomics Stock Up 0.7%

10x Genomics stock traded up $0.40 on Thursday, hitting $58.15. The company’s stock had a trading volume of 2,865,458 shares, compared to its average volume of 2,881,481. The firm has a market cap of $7.38 billion, a P/E ratio of -98.56 and a beta of 2.03. The company has a fifty day moving average price of $40.93 and a 200-day moving average price of $28.43. 10x Genomics has a one year low of $11.16 and a one year high of $60.69.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share (EPS) 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 business had revenue of $151.04 million during the quarter, compared to analysts’ expectations of $146.67 million. During the same period in the prior year, the firm posted $0.28 EPS. 10x Genomics’s quarterly revenue was down 12.7% compared to the same quarter last year. Analysts anticipate that 10x Genomics will post -0.79 EPS for the current year.

Institutional Trading of 10x Genomics

Hedge funds have recently modified their holdings of the company. Elevation Wealth Partners LLC increased its stake in 10x Genomics by 332.3% during the 2nd 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 in the last quarter. Geneos Wealth Management Inc. bought a new position in 10x Genomics in the fourth quarter valued at approximately $38,000. Larson Financial Group LLC lifted its stake in 10x Genomics by 164.4% in the fourth quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock valued at $39,000 after buying an additional 1,470 shares in the last quarter. Fifth Third Bancorp acquired a new position in shares of 10x Genomics in the first quarter valued at approximately $50,000. Finally, Van ECK Associates Corp boosted its holdings in shares of 10x Genomics by 85.9% in the fourth quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock valued at $60,000 after buying an additional 1,695 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TXG shares. TD Cowen reiterated a “hold” rating on shares of 10x Genomics in a research report on Wednesday, July 15th. Stifel Nicolaus set a $50.00 price target on shares of 10x Genomics in a report on Friday, August 7th. JPMorgan Chase & Co. boosted their price objective on shares of 10x Genomics from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 10x Genomics in a report on Wednesday, June 24th. Finally, Stephens increased their price objective on 10x Genomics from $50.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target 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.