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

10x Genomics (NASDAQ:TXG) Director John Stuelpnagel sold 20,000 shares of 10x Genomics stock in a transaction on 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 transaction, the director directly owned 328,436 shares of the company’s stock, valued at approximately $20,280,923. This trade represents a 5.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

10x Genomics Stock Up 4.7%

Shares of TXG traded up $2.95 during trading hours on Tuesday, hitting $65.60. The company had a trading volume of 3,378,678 shares, compared to its average volume of 2,654,448. The firm has a market cap of $8.55 billion, a price-to-earnings ratio of -111.18 and a beta of 2.08. The business has a fifty day moving average of $51.43 and a 200-day moving average of $33.77. 10x Genomics has a 12 month low of $11.16 and a 12 month high of $66.94.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Thursday, August 6th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.10. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.33%. The business 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 firm posted $0.28 EPS. 10x Genomics’s revenue was down 12.7% compared to the same quarter last year. On average, equities analysts expect that 10x Genomics will post -0.75 EPS for the current fiscal year.

Institutional Investors Weigh In On 10x Genomics

A number of hedge funds and other institutional investors have recently made changes to their positions in TXG. California State Teachers Retirement System grew its position 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 worth $179,427,000 after buying an additional 4,556,753 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of 10x Genomics by 241.3% during the 2nd quarter. AQR Capital Management LLC now owns 4,137,801 shares of the company’s stock valued at $47,916,000 after acquiring an additional 2,925,372 shares during the period. Millennium Management LLC grew its holdings 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 worth $63,570,000 after purchasing an additional 2,494,142 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of 10x Genomics by 126.6% during the 3rd quarter. Wellington Management Group LLP now owns 4,285,628 shares of the company’s stock worth $50,099,000 after purchasing an additional 2,394,355 shares in the last quarter. Finally, Quantinno Capital Management LP increased its position in shares of 10x Genomics by 207.2% in the second quarter. Quantinno Capital Management LP now owns 2,233,526 shares of the company’s stock worth $25,864,000 after purchasing an additional 1,506,530 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Canaccord Genuity Group upped 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. Stephens lifted their price target on 10x Genomics from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Zacks Research downgraded 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Royal Bank Of Canada initiated coverage on 10x Genomics in a report on Tuesday, September 1st. They issued a “sector perform” rating and a $70.00 price objective on the stock. Finally, Barclays increased their price objective on 10x Genomics from $30.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $40.57.

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.