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

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

10x Genomics Price Performance

TXG stock traded up $2.63 during midday trading on Thursday, reaching $34.76. 3,608,079 shares of the company’s stock traded hands, compared to its average volume of 2,747,445. 10x Genomics has a fifty-two week low of $10.48 and a fifty-two week high of $35.65. The business has a 50-day moving average price of $25.12 and a two-hundred day moving average price of $21.29. The company 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 released its quarterly earnings data on Thursday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.19. 10x Genomics had a negative net margin of 3.55% and a negative return on equity of 2.86%. The company had revenue of $150.84 million during the quarter, compared to analyst estimates of $146.41 million. During the same quarter in the prior year, the business earned ($0.28) earnings per share. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, research analysts forecast that 10x Genomics will post -0.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on TXG shares. UBS Group boosted their price objective on 10x Genomics from $14.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Morgan Stanley increased their target price on 10x Genomics from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. William Blair upgraded 10x Genomics from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 31st. Citigroup boosted their price target on 10x Genomics from $18.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 7th. Finally, Bank of America upped their price target on 10x Genomics from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, April 20th. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $23.17.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TXG. Intech Investment Management LLC grew its stake in 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 in the last quarter. Certuity LLC increased its holdings in 10x Genomics by 4.7% during the 4th quarter. Certuity LLC now owns 20,204 shares of the company’s stock worth $330,000 after purchasing an additional 904 shares during the last quarter. Stratos Wealth Partners LTD. raised its position in shares of 10x Genomics by 7.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 14,052 shares of the company’s stock valued at $229,000 after purchasing an additional 950 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of 10x Genomics by 16.4% in 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 in the last quarter. Finally, Kera Capital Partners Inc. boosted its stake in shares of 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 last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

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.