10x Genomics (NASDAQ:TXG) Director Sells 2,207 Shares

10x Genomics (NASDAQ:TXG) Director Shehnaaz Suliman sold 2,207 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $63.65, for a total value of $140,475.55. Following the sale, the director owned 29,515 shares of the company’s stock, valued at $1,878,629.75. This represents a 6.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Shehnaaz Suliman also recently made the following trade(s):

• On Tuesday, June 16th, Shehnaaz Suliman sold 5,723 shares of 10x Genomics stock. The stock was sold at an average price of $32.63, for a total value of $186,741.49.

10x Genomics Stock Down 0.7%

Shares of TXG traded down $0.46 during mid-day trading on Wednesday, hitting $64.26. 3,076,495 shares of the company’s stock traded hands, compared to its average volume of 2,891,627. 10x Genomics has a 1 year low of $11.16 and a 1 year high of $66.94. The firm has a market capitalization of $8.37 billion, a P/E ratio of -108.91 and a beta of 2.03. The business’s 50-day moving average price is $46.38 and its 200-day moving average price is $30.97.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Thursday, August 6th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.10. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.33%. The firm had revenue of $151.04 million during the quarter, compared to analysts’ expectations of $146.67 million. During the same period last year, the company posted $0.28 EPS. The company’s quarterly revenue was down 12.7% compared to the same quarter last year. Sell-side analysts anticipate that 10x Genomics will post -0.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on 10x Genomics from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Stifel Nicolaus set a $50.00 price target on shares of 10x Genomics in a research report on Friday, August 7th. Barclays upped their price objective on shares of 10x Genomics from $30.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Morgan Stanley lifted their target price on shares of 10x Genomics from $37.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Finally, Canaccord Genuity Group boosted their price target on 10x Genomics from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $38.31.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TXG. ARK Investment Management LLC grew its holdings in shares of 10x Genomics by 6.6% during the fourth quarter. ARK Investment Management LLC now owns 12,667,369 shares of the company’s stock valued at $206,605,000 after buying an additional 779,973 shares during the last quarter. Amova Asset Management Americas Inc. lifted its position in 10x Genomics by 2.0% in the 4th quarter. Amova Asset Management Americas Inc. now owns 5,486,153 shares of the company’s stock valued at $89,424,000 after acquiring an additional 109,270 shares in the last quarter. Millennium Management LLC lifted its position in 10x Genomics by 84.7% in the 3rd quarter. Millennium Management LLC now owns 5,437,969 shares of the company’s stock valued at $63,570,000 after acquiring an additional 2,494,142 shares in the last quarter. Quantinno Capital Management LP boosted its stake in 10x Genomics by 16.0% during the 1st 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. Finally, California State Teachers Retirement System increased its holdings in shares of 10x Genomics by 3,700.4% in the 2nd quarter. California State Teachers Retirement System now owns 4,679,895 shares of the company’s stock worth $179,427,000 after purchasing an additional 4,556,753 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

10x Genomics Company Profile

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.