Key Points
- Director John Stuelpnagel sold 20,000 10x Genomics shares at an average price of $57.75, generating $1.155 million. He retains 348,436 shares, a 5.43% reduction in his ownership.
- 10x Genomics reported quarterly revenue of $151.04 million and an adjusted loss of $0.14 per share, beating analyst expectations, though revenue declined 12.7% year over year and profitability remained negative.
- Analyst sentiment is mixed, with five Buy, ten Hold and one Sell rating; the consensus rating is Hold, with an average price target of $38.31, below the stock’s reported $58.15 price.
10x Genomics (NASDAQ:TXG - Get Free Report) Director John Stuelpnagel sold 20,000 shares of the firm's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $57.75, for a total value of $1,155,000.00. Following the completion of the sale, the director directly owned 348,436 shares in the company, valued at $20,122,179. This trade represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
10x Genomics Trading Up 0.7%
Shares of NASDAQ TXG opened at $58.15 on Friday. The company has a market cap of $7.38 billion, a price-to-earnings ratio of -98.56 and a beta of 2.03. 10x Genomics has a 12 month low of $11.16 and a 12 month high of $60.69. The stock has a 50-day moving average price of $41.42 and a two-hundred day moving average price of $28.68.
10x Genomics (NASDAQ:TXG - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share for the quarter, beating analysts' consensus estimates of ($0.24) by $0.10. The company had revenue of $151.04 million for the quarter, compared to the consensus estimate of $146.67 million. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.41%. The firm's quarterly revenue was down 12.7% compared to the same quarter last year. During the same period last year, the company posted $0.28 EPS. On average, sell-side analysts predict that 10x Genomics will post -0.79 earnings per share for the current year.
Analysts Set New Price Targets
A number of analysts have weighed in on the stock. Citigroup boosted their target price on shares of 10x Genomics from $45.00 to $50.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. Stephens raised their price objective on 10x Genomics from $50.00 to $65.00 and gave the company an "overweight" rating in a report on Wednesday. Morgan Stanley upped their target price on 10x Genomics from $37.00 to $40.00 and gave the stock an "equal weight" rating in a report on Friday, August 7th. Barclays increased their target price on 10x Genomics from $30.00 to $40.00 and gave the company an "overweight" rating in a research report on Wednesday, June 24th. Finally, TD Cowen reissued a "hold" rating on shares of 10x Genomics in a research note on Wednesday, July 15th. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $38.31.
Check Out Our Latest Analysis on TXG
Hedge Funds Weigh In On 10x Genomics
Large investors have recently modified their holdings of the business. Geneos Wealth Management Inc. acquired a new position in shares of 10x Genomics during the fourth quarter worth $38,000. Larson Financial Group LLC increased its holdings in 10x Genomics by 164.4% in the fourth quarter. Larson Financial Group LLC now owns 2,364 shares of the company's stock valued at $39,000 after purchasing an additional 1,470 shares during the period. Fifth Third Bancorp bought a new position in 10x Genomics during the 1st quarter worth $50,000. Elevation Wealth Partners LLC raised its position in 10x Genomics by 332.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 1,487 shares of the company's stock worth $57,000 after purchasing an additional 1,143 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in 10x Genomics by 85.9% during the 4th quarter. Van ECK Associates Corp now owns 3,668 shares of the company's stock worth $60,000 after buying an additional 1,695 shares during the period. Institutional investors 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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