Key Points
- CFO Adam Taich sold 17,166 shares of 10x Genomics at an average price of $63.02, totaling about $1.08 million. The sale covered tax withholding tied to vested equity awards, leaving him with 362,732 shares.
- 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 the company remains unprofitable.
- Analysts’ consensus rating is “Hold”, with a consensus price target of $38.31, while institutional investors own approximately 84.68% of the company.
10x Genomics (NASDAQ:TXG - Get Free Report) Director Shehnaaz Suliman sold 2,207 shares of the company's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $63.65, for a total transaction of $140,475.55. Following the completion of the transaction, the director owned 29,515 shares in the company, valued at $1,878,629.75. This represents a 6.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
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 transaction of $186,741.49.
10x Genomics Stock Performance
10x Genomics stock opened at $64.26 on Thursday. The company has a market capitalization of $8.37 billion, a PE ratio of -108.91 and a beta of 2.03. The company has a 50 day moving average price of $47.02 and a 200-day moving average price of $31.29. 10x Genomics has a fifty-two week low of $11.16 and a fifty-two week high of $66.94.
10x Genomics (NASDAQ:TXG - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate 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 return on equity of 9.33% and a negative net margin of 12.18%.10x Genomics's quarterly revenue was down 12.7% on a year-over-year basis. During the same period last year, the business posted $0.28 EPS. On average, analysts forecast that 10x Genomics will post -0.75 earnings per share for the current year.
Key Stories Impacting 10x Genomics
Here are the key news stories impacting 10x Genomics this week:
- Positive Sentiment: 10x Genomics’ latest quarterly results provide some fundamental support: adjusted loss per share was better than expected, and revenue exceeded analysts’ estimates. However, revenue still declined 12.7% year over year, so the earnings beat is a limited bullish catalyst.
- Positive Sentiment: Several institutional investors recently increased their positions, and institutions collectively hold approximately 84.68% of TXG’s outstanding shares. This suggests continued participation from professional investors, though the disclosed purchases were generally small.
- Neutral Sentiment: CEO Serge Saxonov, CFO Adam Taich and insider Benjamin Hindson sold approximately $3.12 million of shares. The transactions reduced their holdings by 1.68% to 4.52% and were made to cover tax obligations from vested equity awards, making them less concerning than open-market sales. Each executive still retains a substantial stake. Insider sales report CEO sale report
- Negative Sentiment: Director Shehnaaz Suliman separately sold 2,207 shares worth about $140,476, cutting her direct ownership by 6.96%. Because the filing does not cite tax withholding as the reason, the transaction represents a somewhat more cautious insider signal. Director sale SEC filing
- Negative Sentiment: TXG remains unprofitable, with analysts expecting a full-year loss, while its consensus price target of $38.31 is well below its recent trading level. That valuation gap and ongoing revenue contraction could limit upside after the stock’s strong rally.
Analyst Ratings Changes
TXG has been the subject of several recent research reports. Stephens lifted their price objective on 10x Genomics from $50.00 to $65.00 and gave the company an "overweight" rating in a report on Wednesday, August 12th. Canaccord Genuity Group increased their target price on shares of 10x Genomics from $50.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Piper Sandler increased their price objective on shares of 10x Genomics from $42.00 to $47.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. Zacks Research lowered shares of 10x Genomics from a "strong-buy" rating to a "hold" rating in a report on Monday, May 18th. Finally, Leerink Partners boosted their price objective on shares of 10x Genomics from $23.00 to $40.00 and gave the stock a "market perform" rating in a research note on Friday, July 17th. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, 10x Genomics presently has a consensus rating of "Hold" and a consensus price target of $38.31.
Check Out Our Latest Research Report on TXG
Institutional Trading of 10x Genomics
A number of institutional investors have recently bought and sold shares of TXG. Royal Bank of Canada boosted its stake in shares of 10x Genomics by 806.4% in the first quarter. Royal Bank of Canada now owns 182,836 shares of the company's stock worth $1,597,000 after buying an additional 162,665 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in 10x Genomics by 163.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 645,366 shares of the company's stock worth $5,634,000 after purchasing an additional 400,430 shares in the last quarter. Focus Partners Wealth purchased a new stake in 10x Genomics in the 1st quarter worth approximately $92,000. Legal & General Group Plc grew its stake in shares of 10x Genomics by 5.7% during the 2nd quarter. Legal & General Group Plc now owns 110,864 shares of the company's stock worth $1,284,000 after purchasing an additional 5,985 shares during the period. Finally, American Century Companies Inc. purchased a new position in shares of 10x Genomics during the 2nd quarter valued at approximately $933,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.
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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