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

10x Genomics (NASDAQ:TXG) Director John Stuelpnagel sold 20,000 shares of 10x Genomics 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 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 SEC, which is accessible through this hyperlink.

10x Genomics Price Performance

Shares of NASDAQ TXG opened at $56.09 on Friday. 10x Genomics has a 1-year low of $11.16 and a 1-year high of $60.69. The business has a fifty day moving average price of $41.93 and a 200 day moving average price of $28.87. The stock has a market capitalization of $7.12 billion, a P/E ratio of -95.07 and a beta of 2.03.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.10. The company had revenue of $151.04 million for the quarter, compared to analyst estimates of $146.67 million. 10x Genomics had a negative return on equity of 9.33% and a negative net margin of 12.18%.The firm’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 earnings per share. As a group, equities research analysts anticipate that 10x Genomics will post -0.79 earnings per share for the current fiscal year.

Institutional Trading of 10x Genomics

Institutional investors have recently bought and sold shares of the stock. 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 valued at $57,000 after purchasing an additional 1,143 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of 10x Genomics during the fourth quarter worth $38,000. Larson Financial Group LLC lifted its stake in shares of 10x Genomics by 164.4% during the fourth quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock worth $39,000 after buying an additional 1,470 shares during the period. Fifth Third Bancorp purchased a new stake in shares of 10x Genomics during the first quarter valued at $50,000. Finally, Van ECK Associates Corp grew its holdings in shares of 10x Genomics by 85.9% during 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 last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Stephens raised their target price on shares of 10x Genomics from $50.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday. Canaccord Genuity Group upped 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. TD Cowen reiterated a “hold” rating on shares of 10x Genomics in a report on Wednesday, July 15th. Zacks Research cut 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Finally, Leerink Partners boosted their target price on 10x Genomics from $23.00 to $40.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, 10x Genomics currently has an average rating of “Hold” and a consensus price target of $38.31.

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.