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

10x Genomics (NASDAQ:TXG) Director John Stuelpnagel sold 20,000 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $61.75, for a total transaction of $1,235,000.00. Following the sale, the director directly owned 328,436 shares in the company, valued at approximately $20,280,923. The trade was a 5.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

10x Genomics Trading Up 2.6%

NASDAQ TXG opened at $67.29 on Thursday. The stock has a market capitalization of $8.77 billion, a price-to-earnings ratio of -114.05 and a beta of 2.08. The stock has a 50-day moving average of $52.54 and a 200 day moving average of $34.43. 10x Genomics has a twelve month low of $11.16 and a twelve month high of $67.62.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.14) 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%.10x Genomics’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same period last year, the company earned $0.28 earnings per share. Equities analysts predict that 10x Genomics will post -0.75 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TXG shares. Stifel Nicolaus set a $50.00 price target on shares of 10x Genomics in a research note on Friday, August 7th. Canaccord Genuity Group raised their target price on 10x Genomics from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Leerink Partners boosted their price target on 10x Genomics from $23.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, July 17th. UBS Group increased their price objective on 10x Genomics from $20.00 to $68.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 10x Genomics in a research note on Wednesday, June 24th. Five equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $44.00.

Hedge Funds Weigh In On 10x Genomics

Institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC purchased a new stake in 10x Genomics in the 2nd quarter valued at $1,279,000. Integrated Wealth Concepts LLC grew its holdings in shares of 10x Genomics by 34.9% in the second quarter. Integrated Wealth Concepts LLC now owns 21,645 shares of the company’s stock valued at $830,000 after purchasing an additional 5,595 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of 10x Genomics in the second quarter valued at about $2,069,000. Arizona State Retirement System increased its position in 10x Genomics by 1.5% during the second quarter. Arizona State Retirement System now owns 29,223 shares of the company’s stock worth $1,120,000 after purchasing an additional 430 shares during the last quarter. Finally, Nykredit A S purchased a new position in 10x Genomics during the second quarter worth about $126,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

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.