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

Key Points

• Director John Stuelpnagel sold 20,000 10x Genomics shares at an average price of $61.75, generating $1.235 million. His remaining stake fell 5.74% to 328,436 shares.
• 10x Genomics shares rose 4.7% to $65.60 and are near their 52-week high of $66.94. The company beat quarterly EPS and revenue estimates, though revenue declined 12.7% year over year and profitability remained negative.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and average price target of $40.57, well below the current share price. Institutional investors own 84.68% of the company.

10x Genomics (NASDAQ:TXG - Get Free Report) Director John Stuelpnagel sold 20,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director owned 328,436 shares of the company's stock, valued at $20,280,923. This trade represents a 5.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

10x Genomics Trading Up 4.7%

Shares of TXG traded up $2.95 during trading hours on Tuesday, hitting $65.60. 3,378,678 shares of the stock traded hands, compared to its average volume of 2,654,448. The business has a fifty day moving average of $51.43 and a 200-day moving average of $33.77. The firm has a market capitalization of $8.55 billion, a PE ratio of -111.18 and a beta of 2.08. 10x Genomics has a 1-year low of $11.16 and a 1-year high of $66.94.

10x Genomics (NASDAQ:TXG - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.10. The company had revenue of $151.04 million during the quarter, compared to analysts' expectations of $146.67 million. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.33%. The business's revenue for the quarter was down 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS. As a group, equities research analysts expect that 10x Genomics will post -0.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TXG. Morgan Stanley raised their price objective on 10x Genomics from $37.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Friday, August 7th. Stephens increased 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. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 10x Genomics in a research report on Wednesday, June 24th. Citigroup lifted their price objective on 10x Genomics from $45.00 to $50.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Finally, Piper Sandler boosted their price objective on 10x Genomics from $42.00 to $47.00 and gave the company a "neutral" rating in a research report on Monday, August 10th. Five investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $40.57.

Institutional Investors Weigh In On 10x Genomics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Elevation Wealth Partners LLC lifted its stake in 10x Genomics by 332.3% in the second quarter. Elevation Wealth Partners LLC now owns 1,487 shares of the company's stock valued at $57,000 after acquiring an additional 1,143 shares during the last quarter. Larson Financial Group LLC grew its position in shares of 10x Genomics by 164.4% in the 4th quarter. Larson Financial Group LLC now owns 2,364 shares of the company's stock valued at $39,000 after acquiring an additional 1,470 shares during the period. Fifth Third Bancorp acquired a new position in shares of 10x Genomics during the 1st quarter worth about $50,000. Nykredit A S acquired a new position in shares of 10x Genomics during the 2nd quarter worth about $126,000. Finally, Van ECK Associates Corp raised its holdings in shares of 10x Genomics by 85.9% in the 4th quarter. Van ECK Associates Corp now owns 3,668 shares of the company's stock valued at $60,000 after purchasing an additional 1,695 shares during the period. 84.68% of the stock is owned by institutional investors.

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.

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