10x Genomics (NASDAQ:TXG) Director Shehnaaz Suliman Sells 5,723 Shares of Company Stock

10x Genomics (NASDAQ:TXG) Director Shehnaaz Suliman sold 5,723 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $81.19, for a total value of $464,650.37. Following the completion of the transaction, the director directly owned 23,792 shares in the company, valued at $1,931,672.48. The trade was a 19.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Monday, August 24th, Shehnaaz Suliman sold 2,207 shares of 10x Genomics stock. The shares were sold at an average price of $63.65, for a total transaction of $140,475.55.

10x Genomics Price Performance

Shares of TXG traded up $8.49 on Thursday, reaching $84.11. The company’s stock had a trading volume of 4,085,290 shares, compared to its average volume of 2,877,569. The stock has a market capitalization of $10.96 billion, a P/E ratio of -142.56 and a beta of 2.08. The stock’s 50 day simple moving average is $59.11 and its two-hundred day simple moving average is $38.16. 10x Genomics has a 12-month low of $11.16 and a 12-month high of $85.93.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Thursday, August 6th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates 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 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 company earned $0.28 earnings per share. The firm’s revenue was down 12.7% on a year-over-year basis. Analysts expect that 10x Genomics will post -0.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TXG shares. Barclays lifted their price objective on 10x Genomics from $30.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Citigroup raised their target price on shares of 10x Genomics from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. UBS Group started coverage on shares of 10x Genomics in a report on Wednesday, September 9th. They issued a “neutral” rating and a $68.00 target price for the company. Leerink Partners boosted their price objective on 10x Genomics from $23.00 to $40.00 and gave the company a “market perform” rating in a research report on Friday, July 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 10x Genomics in a research note on Monday. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $44.00.

Institutional Trading of 10x Genomics

Hedge funds have recently made changes to their positions in the business. Arizona State Retirement System lifted its stake in shares of 10x Genomics by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 29,223 shares of the company’s stock valued at $1,120,000 after purchasing an additional 430 shares during the last quarter. Intech Investment Management LLC increased its position 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 valued at $653,000 after purchasing an additional 567 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of 10x Genomics by 16.4% during the 1st 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 during the last quarter. Kera Capital Partners Inc. raised its holdings in 10x Genomics by 2.3% during the 1st quarter. Kera Capital Partners Inc. now owns 48,937 shares of the company’s stock valued at $1,039,000 after buying an additional 1,108 shares during the period. Finally, Elevation Wealth Partners LLC raised its holdings in 10x Genomics by 332.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 1,487 shares of the company’s stock valued at $57,000 after buying an additional 1,143 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

10x Genomics Company Profile

10x Genomics, Inc develops life science technology for analyzing biological systems at the single-cell and spatial levels. Its platforms are designed to help researchers study gene expression, genetic variation, cell populations and tissue organization with greater detail than conventional laboratory methods.

The company’s product portfolio includes the Chromium platform for single-cell analysis, Visium solutions for spatial transcriptomics and tissue profiling, and Xenium in situ platforms for high-resolution analysis of RNA and other biological features within tissue samples.