10x Genomics (NASDAQ:TXG) Director Shehnaaz Suliman Sells 2,207 Shares

10x Genomics (NASDAQ:TXG) Director Shehnaaz Suliman sold 2,207 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $63.65, for a total transaction of $140,475.55. Following the sale, 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 can be accessed 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 Performance

Shares of TXG stock opened at $64.26 on Thursday. 10x Genomics has a fifty-two week low of $11.16 and a fifty-two week high of $66.94. The stock’s fifty day moving average price is $47.02 and its two-hundred day moving average price is $31.29. The company has a market cap of $8.37 billion, a PE ratio of -108.91 and a beta of 2.03.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 9.33% and a negative net margin of 12.18%.10x Genomics’s revenue was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.28 EPS. On average, equities analysts predict that 10x Genomics will post -0.75 EPS for the current fiscal year.

Analysts Set New Price Targets

TXG has been the subject of a number of research analyst reports. Stephens upped their price objective on shares of 10x Genomics from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Zacks Research cut shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Leerink Partners upped their price target on shares of 10x Genomics from $23.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday, July 17th. Stifel Nicolaus set a $50.00 price objective on 10x Genomics in a report on Friday, August 7th. Finally, JPMorgan Chase & Co. upped their target price on 10x Genomics from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $38.31.

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.

Institutional Trading of 10x Genomics

Several institutional investors have recently added to or reduced their stakes in the stock. Intech Investment Management LLC grew its stake in shares of 10x Genomics by 1.4% during the fourth quarter. Intech Investment Management LLC now owns 40,047 shares of the company’s stock valued at $653,000 after buying an additional 567 shares during the last quarter. Certuity LLC lifted its stake in shares of 10x Genomics by 4.7% during the 4th quarter. Certuity LLC now owns 20,204 shares of the company’s stock worth $330,000 after acquiring an additional 904 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in 10x Genomics by 16.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 7,186 shares of the company’s stock valued at $153,000 after acquiring an additional 1,012 shares during the period. Kera Capital Partners Inc. boosted its holdings in 10x Genomics by 2.3% during the 1st quarter. Kera Capital Partners Inc. now owns 48,937 shares of the company’s stock valued at $1,039,000 after acquiring an additional 1,108 shares during the period. Finally, Elevation Wealth Partners LLC grew its position in 10x Genomics by 332.3% in the 2nd 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. 84.68% of the stock is currently owned by institutional investors.

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.