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

10x Genomics (NASDAQ:TXG) Director Shehnaaz Suliman sold 5,723 shares of 10x Genomics stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $32.63, for a total value of $186,741.49. Following the completion of the transaction, the director owned 31,722 shares of the company’s stock, valued at $1,035,088.86. This trade represents a 15.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

10x Genomics Stock Up 8.2%

Shares of NASDAQ TXG opened at $34.76 on Friday. The stock’s 50 day moving average price is $25.38 and its two-hundred day moving average price is $21.41. 10x Genomics has a 52-week low of $10.48 and a 52-week high of $35.65. The stock has a market capitalization of $4.41 billion, a P/E ratio of -204.47 and a beta of 2.12.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Thursday, May 7th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.19. 10x Genomics had a negative return on equity of 2.86% and a negative net margin of 3.55%.The company had revenue of $150.84 million during the quarter, compared to analyst estimates of $146.41 million. During the same quarter last year, the firm earned ($0.28) EPS. The business’s revenue was up 9.4% on a year-over-year basis. On average, analysts anticipate that 10x Genomics will post -0.79 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on TXG. Morgan Stanley boosted their target price on shares of 10x Genomics from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. Bank of America boosted their price objective on shares of 10x Genomics from $21.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. UBS Group raised their target price on shares of 10x Genomics from $14.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. William Blair upgraded 10x Genomics from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 31st. Finally, Zacks Research lowered 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, 10x Genomics currently has an average rating of “Hold” and an average target price of $23.17.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Geneos Wealth Management Inc. acquired a new stake in 10x Genomics in the fourth quarter worth about $38,000. Larson Financial Group LLC increased its stake in 10x Genomics by 164.4% during the 4th 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 during the period. Fifth Third Bancorp bought a new stake in shares of 10x Genomics during the 1st quarter worth about $50,000. Van ECK Associates Corp raised its position in shares of 10x Genomics by 85.9% during the 4th quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock worth $60,000 after buying an additional 1,695 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of 10x Genomics by 28.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,660 shares of the company’s stock worth $92,000 after acquiring an additional 1,237 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

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.