10x Genomics (NASDAQ:TXG) CFO Adam Taich Sells 8,968 Shares

10x Genomics (NASDAQ:TXG) CFO Adam Taich sold 8,968 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $18.58, for a total transaction of $166,625.44. Following the sale, the chief financial officer directly owned 288,417 shares in the company, valued at $5,358,787.86. The trade was a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

10x Genomics Stock Up 2.9%

Shares of TXG stock traded up $0.56 during trading hours on Wednesday, hitting $19.66. 2,444,719 shares of the company’s stock traded hands, compared to its average volume of 2,765,983. The stock has a market cap of $2.51 billion, a PE ratio of -56.17 and a beta of 2.24. The stock’s 50 day simple moving average is $18.99 and its 200 day simple moving average is $15.91. 10x Genomics has a 12 month low of $6.78 and a 12 month high of $23.56.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. The business had revenue of $166.03 million during the quarter, compared to the consensus estimate of $160.35 million. 10x Genomics had a negative return on equity of 6.89% and a negative net margin of 6.77%.10x Genomics’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.40) earnings per share. As a group, equities research analysts expect that 10x Genomics will post -1.43 EPS for the current fiscal year.

Institutional Investors Weigh In On 10x Genomics

Institutional investors have recently added to or reduced their stakes in the business. Foundations Investment Advisors LLC purchased a new position in shares of 10x Genomics in the third quarter worth about $665,000. Jump Financial LLC boosted its holdings in 10x Genomics by 130.2% in the 2nd quarter. Jump Financial LLC now owns 1,041,051 shares of the company’s stock worth $12,055,000 after buying an additional 588,769 shares during the period. AlphaQuest LLC grew its stake in 10x Genomics by 234.3% in the 3rd quarter. AlphaQuest LLC now owns 133,419 shares of the company’s stock valued at $1,560,000 after buying an additional 93,514 shares in the last quarter. Friedenthal Financial bought a new stake in 10x Genomics during the 3rd quarter valued at $924,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of 10x Genomics during the third quarter worth $1,179,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TXG has been the subject of a number of research analyst reports. Bank of America set a $21.00 target price on 10x Genomics in a report on Monday, January 12th. Deutsche Bank Aktiengesellschaft set a $17.00 target price on shares of 10x Genomics and gave the stock a “hold” rating in a report on Friday, February 13th. Piper Sandler lifted their price objective on shares of 10x Genomics from $15.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Barclays increased their price target on 10x Genomics from $17.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday, December 15th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a research report on Monday, December 22nd. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $18.11.

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.