10x Genomics (NASDAQ:TXG) Director Shehnaaz Suliman Sells 2,207 Shares of Stock

10x Genomics (NASDAQ:TXG) Director Shehnaaz Suliman sold 2,207 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $63.65, for a total value of $140,475.55. Following the completion of the sale, the director directly owned 29,515 shares of the company’s stock, valued at $1,878,629.75. The trade was a 6.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shehnaaz Suliman also recently made the following trade(s):

• On Tuesday, June 16th, Shehnaaz Suliman sold 5,723 shares of 10x Genomics stock. The stock was sold at an average price of $32.63, for a total value of $186,741.49.

10x Genomics Stock Down 0.7%

NASDAQ:TXG traded down $0.46 on Wednesday, hitting $64.26. The stock had a trading volume of 3,076,495 shares, compared to its average volume of 2,891,627. 10x Genomics has a 52 week low of $11.16 and a 52 week high of $66.94. The business’s fifty day moving average is $46.38 and its 200 day moving average is $30.97. The company has a market cap of $8.37 billion, a PE ratio of -108.91 and a beta of 2.03.

10x Genomics (NASDAQ:TXG) last released 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. 10x Genomics had a negative return on equity of 9.33% and a negative net margin of 12.18%.The firm had revenue of $151.04 million during the quarter, compared to the consensus estimate of $146.67 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s quarterly revenue was down 12.7% on a year-over-year basis. Equities analysts predict that 10x Genomics will post -0.75 earnings per share for the current fiscal year.

Institutional Trading of 10x Genomics

Several hedge funds have recently made changes to their positions in TXG. California State Teachers Retirement System lifted its holdings in 10x Genomics by 3,700.4% during 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 increased its holdings in shares of 10x Genomics by 241.3% in the second 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 holdings in shares of 10x Genomics by 84.7% in the 3rd quarter. Millennium Management LLC now owns 5,437,969 shares of the company’s stock valued at $63,570,000 after acquiring an additional 2,494,142 shares in the last quarter. Wellington Management Group LLP lifted its position in 10x Genomics by 126.6% during the third quarter. Wellington Management Group LLP now owns 4,285,628 shares of the company’s stock valued at $50,099,000 after purchasing an additional 2,394,355 shares during the last quarter. Finally, Quantinno Capital Management LP grew its stake in 10x Genomics by 207.2% in the 2nd quarter. Quantinno Capital Management LP now owns 2,233,526 shares of the company’s stock worth $25,864,000 after buying an additional 1,506,530 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Morgan Stanley raised their price objective on shares of 10x Genomics from $37.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Canaccord Genuity Group raised their price target on shares of 10x Genomics from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Stifel Nicolaus set a $50.00 price target on 10x Genomics in a research note on Friday, August 7th. Zacks Research lowered 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Finally, JPMorgan Chase & Co. raised their target price on 10x Genomics from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Five 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 company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $38.31.

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.