10x Genomics (NASDAQ:TXG) Director Sells $1,235,000.00 in Stock

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

10x Genomics Price Performance

Shares of NASDAQ:TXG opened at $66.38 on Friday. The business’s 50-day moving average is $53.09 and its 200 day moving average is $34.76. 10x Genomics has a 1 year low of $11.16 and a 1 year high of $67.70. The firm has a market capitalization of $8.65 billion, a P/E ratio of -112.51 and a beta of 2.08.

10x Genomics (NASDAQ:TXG) last released its quarterly 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 return on equity of 9.33% and a negative net margin of 12.18%.The company had revenue of $151.04 million during the quarter, compared to analysts’ expectations of $146.67 million. During the same period last year, the business posted $0.28 earnings per share. The firm’s revenue was down 12.7% compared to the same quarter last year. On average, analysts expect that 10x Genomics will post -0.75 EPS for the current year.

Hedge Funds Weigh In On 10x Genomics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System boosted its holdings in 10x Genomics by 3,700.4% in the second quarter. California State Teachers Retirement System now owns 4,679,895 shares of the company’s stock valued at $179,427,000 after purchasing an additional 4,556,753 shares during the last quarter. AQR Capital Management LLC grew its position in 10x Genomics by 241.3% during the 2nd quarter. AQR Capital Management LLC now owns 4,137,801 shares of the company’s stock worth $47,916,000 after purchasing an additional 2,925,372 shares during the period. Millennium Management LLC raised its stake in shares of 10x Genomics by 84.7% during the 3rd quarter. Millennium Management LLC now owns 5,437,969 shares of the company’s stock valued at $63,570,000 after buying an additional 2,494,142 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of 10x Genomics by 126.6% in the 3rd quarter. Wellington Management Group LLP now owns 4,285,628 shares of the company’s stock valued at $50,099,000 after buying an additional 2,394,355 shares during the period. Finally, Quantinno Capital Management LP lifted its holdings in shares of 10x Genomics by 207.2% in the 2nd quarter. Quantinno Capital Management LP now owns 2,233,526 shares of the company’s stock valued at $25,864,000 after buying an additional 1,506,530 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on TXG shares. Weiss Ratings reissued a “sell (d-)” rating on shares of 10x Genomics in a research report on Wednesday, June 24th. Stifel Nicolaus set a $50.00 price target on shares of 10x Genomics in a report on Friday, August 7th. TD Cowen reiterated a “hold” rating on shares of 10x Genomics in a research note on Wednesday, July 15th. Zacks Research lowered shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Finally, Canaccord Genuity Group boosted their price objective on shares of 10x Genomics from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday, August 10th. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, 10x Genomics presently has an average rating of “Hold” and an average price target of $44.00.

About 10x Genomics

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.