10x Genomics (NASDAQ:TXG) Director Shehnaaz Suliman Sells 5,723 Shares of Stock

10x Genomics (NASDAQ:TXG) Director Shehnaaz Suliman sold 5,723 shares of 10x Genomics stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $81.19, for a total value of $464,650.37. Following the sale, the director directly owned 23,792 shares in the company, valued at $1,931,672.48. The trade was a 19.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shehnaaz Suliman also recently made the following trade(s):

• On Monday, August 24th, Shehnaaz Suliman sold 2,207 shares of 10x Genomics stock. The stock was sold at an average price of $63.65, for a total value of $140,475.55.

10x Genomics Stock Performance

Shares of TXG opened at $84.11 on Friday. The firm has a market capitalization of $10.96 billion, a price-to-earnings ratio of -142.56 and a beta of 2.08. 10x Genomics has a one year low of $11.16 and a one year high of $85.93. The stock’s fifty day moving average is $59.90 and its 200-day moving average is $38.61.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data 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 business had revenue of $151.04 million for 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 company’s revenue was down 12.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.28 earnings per share. Analysts forecast that 10x Genomics will post -0.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. UBS Group began coverage on shares of 10x Genomics in a research note on Wednesday, September 9th. They issued a “neutral” rating and a $68.00 price target for the company. Canaccord Genuity Group raised their price objective on shares of 10x Genomics from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Stephens boosted their target price on 10x Genomics from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. 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 research report on Friday, August 7th. Finally, Citigroup lifted their price target on 10x Genomics from $45.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $44.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TXG. Arizona State Retirement System lifted its stake in shares of 10x Genomics by 1.5% in the second quarter. Arizona State Retirement System now owns 29,223 shares of the company’s stock worth $1,120,000 after buying an additional 430 shares during the last quarter. Intech Investment Management LLC grew its stake in 10x Genomics by 1.4% in the 4th 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. EverSource Wealth Advisors LLC raised its holdings in 10x Genomics by 16.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 7,186 shares of the company’s stock worth $153,000 after acquiring an additional 1,012 shares during the period. Kera Capital Partners Inc. raised its holdings in 10x Genomics by 2.3% in the 1st quarter. Kera Capital Partners Inc. now owns 48,937 shares of the company’s stock worth $1,039,000 after acquiring an additional 1,108 shares during the period. Finally, Elevation Wealth Partners LLC lifted 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 acquiring an additional 1,143 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

About 10x Genomics

10x Genomics, Inc develops life science technology for analyzing biological systems at the single-cell and spatial levels. Its platforms are designed to help researchers study gene expression, genetic variation, cell populations and tissue organization with greater detail than conventional laboratory methods.

The company’s product portfolio includes the Chromium platform for single-cell analysis, Visium solutions for spatial transcriptomics and tissue profiling, and Xenium in situ platforms for high-resolution analysis of RNA and other biological features within tissue samples.