10x Genomics (NASDAQ:TXG – Get Free Report)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $36.59 and last traded at $35.6930, with a volume of 178604 shares trading hands. The stock had previously closed at $34.76.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on TXG shares. Stifel Nicolaus increased their target price on 10x Genomics from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Bank of America boosted their price target on 10x Genomics from $21.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, April 20th. William Blair raised 10x Genomics from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 31st. Morgan Stanley upped their price objective on 10x Genomics from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Finally, Citigroup increased their price objective on 10x Genomics from $18.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 7th. Four equities 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. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $23.17.
10x Genomics Trading Down 3.2%
10x Genomics (NASDAQ:TXG – Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.19. 10x Genomics had a negative net margin of 3.55% and a negative return on equity of 2.86%. The company had revenue of $150.84 million for the quarter, compared to analysts’ expectations of $146.41 million. During the same period last year, the firm earned ($0.28) earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts forecast that 10x Genomics will post -0.79 earnings per share for the current year.
Insider Buying and Selling
In other news, Director Shehnaaz Suliman sold 5,723 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $32.63, for a total transaction of $186,741.49. Following the completion of the sale, the director directly owned 31,722 shares in the company, valued at approximately $1,035,088.86. This represents a 15.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Benjamin J. Hindson sold 11,595 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $24.44, for a total value of $283,381.80. Following the sale, the insider directly owned 502,000 shares in the company, valued at approximately $12,268,880. This trade represents a 2.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 66,309 shares of company stock worth $1,670,957 in the last quarter. Insiders own 8.84% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of TXG. Geneos Wealth Management Inc. bought a new stake in 10x Genomics during the fourth quarter worth about $38,000. Larson Financial Group LLC increased its holdings in 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 buying an additional 1,470 shares during the period. Fifth Third Bancorp acquired a new position in shares of 10x Genomics in the 1st quarter valued at approximately $50,000. Van ECK Associates Corp raised its position 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 buying an additional 1,695 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of 10x Genomics by 203.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,490 shares of the company’s stock valued at $87,000 after buying an additional 5,025 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.
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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