Insider Selling: 10x Genomics (NASDAQ:TXG) Director Sells $140,475.55 in Stock

10x Genomics (NASDAQ:TXG) Director Shehnaaz Suliman sold 2,207 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $63.65, for a total transaction of $140,475.55. Following 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 position. The transaction was disclosed in a filing with the SEC, which is available through 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 value of $186,741.49.

10x Genomics Stock Down 5.1%

Shares of TXG stock opened at $61.54 on Friday. 10x Genomics has a 12 month low of $11.16 and a 12 month high of $66.94. The company has a market cap of $8.02 billion, a PE ratio of -104.30 and a beta of 2.03. The business’s 50 day moving average is $48.16 and its two-hundred day moving average is $31.83.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.14) earnings per share (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 period in the prior year, the firm earned $0.28 EPS. 10x Genomics’s quarterly revenue was down 12.7% compared to the same quarter last year. As a group, equities analysts expect that 10x Genomics will post -0.75 EPS for the current fiscal year.

Institutional Investors Weigh In On 10x Genomics

Large investors have recently made changes to their positions in the company. California State Teachers Retirement System increased its position in shares of 10x Genomics by 3,700.4% during the 2nd quarter. California State Teachers Retirement System now owns 4,679,895 shares of the company’s stock worth $179,427,000 after purchasing an additional 4,556,753 shares in the last quarter. AQR Capital Management LLC boosted its position in 10x Genomics by 241.3% in the second quarter. AQR Capital Management LLC now owns 4,137,801 shares of the company’s stock valued at $47,916,000 after buying an additional 2,925,372 shares in the last quarter. Millennium Management LLC increased its holdings in shares of 10x Genomics by 84.7% during the third quarter. Millennium Management LLC now owns 5,437,969 shares of the company’s stock worth $63,570,000 after buying an additional 2,494,142 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of 10x Genomics by 126.6% during the third quarter. Wellington Management Group LLP now owns 4,285,628 shares of the company’s stock worth $50,099,000 after buying an additional 2,394,355 shares in the last quarter. Finally, Quantinno Capital Management LP raised its stake 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 valued at $25,864,000 after acquiring an additional 1,506,530 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on TXG. Leerink Partners increased their target price on 10x Genomics from $23.00 to $40.00 and gave the company a “market perform” rating in a research note on Friday, July 17th. Stephens increased their price objective on shares of 10x Genomics from $50.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Canaccord Genuity Group lifted their target price 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. TD Cowen reissued a “hold” rating on shares of 10x Genomics in a research report on Wednesday, July 15th. Finally, Piper Sandler raised their price target on shares of 10x Genomics from $42.00 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $38.31.

10x Genomics Company Profile

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.