Key Points
- Director sale: 10x Genomics director Shehnaaz Suliman sold 5,723 shares at an average price of $32.63, totaling about $186,741. After the transaction, she still held 31,722 shares.
- Recent performance: The company recently reported better-than-expected quarterly results, with EPS of -$0.10 versus a consensus estimate of -$0.29 and revenue of $150.84 million, up 9.4% year over year.
- Analyst sentiment: Wall Street currently has a mixed view on TXG, with an average rating of Hold and a consensus price target of $23.17, even as several firms recently raised their targets.
10x Genomics (NASDAQ:TXG - Get Free Report) Director Shehnaaz Suliman sold 5,723 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $32.63, for a total value of $186,741.49. Following the completion of the sale, the director owned 31,722 shares of the company's stock, valued at $1,035,088.86. This trade represents a 15.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
10x Genomics Stock Performance
Shares of TXG stock opened at $34.76 on Friday. 10x Genomics has a 1 year low of $10.48 and a 1 year high of $35.65. The stock has a market cap of $4.41 billion, a PE ratio of -204.47 and a beta of 2.12. The business's fifty day moving average is $25.38 and its 200-day moving average is $21.41.
10x Genomics (NASDAQ:TXG - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.10) EPS for the quarter, topping analysts' consensus estimates of ($0.29) by $0.19. The company had revenue of $150.84 million for the quarter, compared to the consensus estimate of $146.41 million. 10x Genomics had a negative return on equity of 2.86% and a negative net margin of 3.55%.The company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.28) EPS. Equities research analysts predict that 10x Genomics will post -0.79 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the stock. Canaccord Genuity Group upped their price target on shares of 10x Genomics from $22.00 to $32.00 and gave the company a "buy" rating in a report on Monday, April 20th. Zacks Research cut 10x Genomics from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 18th. Bank of America boosted their target price on shares of 10x Genomics from $21.00 to $30.00 and gave the company a "neutral" rating in a research note on Monday, April 20th. Stifel Nicolaus increased their price target on shares of 10x Genomics from $20.00 to $25.00 and gave the stock a "buy" rating in a research report on Monday, March 2nd. Finally, Citigroup increased their price objective on 10x Genomics from $18.00 to $24.00 and gave the stock a "neutral" rating in a report on Tuesday, April 7th. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $23.17.
View Our Latest Analysis on 10x Genomics
Hedge Funds Weigh In On 10x Genomics
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of 10x Genomics by 6.7% in the third quarter. Vanguard Group Inc. now owns 13,274,332 shares of the company's stock valued at $155,177,000 after purchasing an additional 834,272 shares during the period. ARK Investment Management LLC boosted its holdings in shares of 10x Genomics by 6.6% during the 4th quarter. ARK Investment Management LLC now owns 12,667,369 shares of the company's stock worth $206,605,000 after buying an additional 779,973 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of 10x Genomics by 2.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,492,189 shares of the company's stock worth $89,578,000 after buying an additional 110,970 shares during the period. Amova Asset Management Americas Inc. grew its stake in 10x Genomics by 2.0% in the 4th quarter. Amova Asset Management Americas Inc. now owns 5,486,153 shares of the company's stock valued at $89,424,000 after buying an additional 109,270 shares during the last quarter. Finally, Millennium Management LLC grew its stake in 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 buying an additional 2,494,142 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.
About 10x Genomics
(
Get Free Report)
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.
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