Adam Taich Sells 17,166 Shares of 10x Genomics (NASDAQ:TXG) Stock

10x Genomics (NASDAQ:TXG) CFO Adam Taich sold 17,166 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $63.02, for a total value of $1,081,801.32. Following the sale, the chief financial officer owned 362,732 shares of the company’s stock, valued at $22,859,370.64. This represents a 4.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

10x Genomics Trading Up 0.9%

NASDAQ TXG opened at $64.85 on Friday. The stock’s 50 day moving average is $47.62 and its 200 day moving average is $31.62. 10x Genomics has a 12 month low of $11.16 and a 12 month high of $66.94. The stock has a market cap of $8.45 billion, a PE ratio of -109.91 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) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.10. 10x Genomics had a negative return on equity of 9.33% and a negative net margin of 12.18%.The business had revenue of $151.04 million during the quarter, compared to the consensus estimate of $146.67 million. During the same period in the prior year, the company posted $0.28 EPS. The firm’s revenue for the quarter was down 12.7% compared to the same quarter last year. On average, analysts forecast that 10x Genomics will post -0.75 EPS for the current fiscal year.

Trending Headlines about 10x Genomics

Here are the key news stories impacting 10x Genomics this week:

• Positive Sentiment: Recent quarterly results offered some fundamental support: 10x Genomics reported an adjusted loss of $0.14 per share, better than the expected $0.24 loss, while revenue of $151.0 million exceeded estimates of $146.7 million. Several analysts subsequently raised their price targets, including Stephens to $65 and Canaccord Genuity to $60.
• Neutral Sentiment: CEO Serge Saxonov, CFO Adam Taich and insider Benjamin Hindson sold a combined approximately $3.12 million of shares. The transactions reduced their holdings by 1.68% to 4.52% and were reported as sales to cover tax obligations from vested equity awards, making them a less negative signal than discretionary insider selling. Each continues to hold a substantial position. Insider sales report CEO sale report
• Negative Sentiment: Director Shehnaaz Suliman sold 2,207 shares for approximately $140,476, reducing her direct ownership by 6.96%. The filing did not identify tax withholding as the reason, creating a modestly cautious insider signal. Director sale report
• Negative Sentiment: 10x Genomics remains unprofitable, with analysts expecting a full-year loss of approximately $0.75 per share. Revenue also declined 12.7% year over year in the latest quarter, while the consensus price target of $38.31 is substantially below the stock’s recent level, highlighting valuation and execution risk after its sharp rally.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC raised its stake in shares of 10x Genomics by 1.4% in the fourth quarter. Intech Investment Management LLC now owns 40,047 shares of the company’s stock valued at $653,000 after acquiring an additional 567 shares during the period. Certuity LLC boosted 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 purchasing an additional 904 shares during the period. EverSource Wealth Advisors LLC grew 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 purchasing an additional 1,012 shares during the last quarter. Kera Capital Partners Inc. grew 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 purchasing an additional 1,108 shares during the last quarter. Finally, Elevation Wealth Partners LLC raised 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 worth $57,000 after purchasing an additional 1,143 shares during the period. Institutional investors own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

TXG has been the subject of a number of research reports. Morgan Stanley increased their target price on 10x Genomics from $37.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Leerink Partners boosted their price target on shares of 10x Genomics from $23.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, July 17th. Canaccord Genuity Group upped their price target 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. Stifel Nicolaus set a $50.00 price objective on shares of 10x Genomics in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of 10x Genomics from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $38.31.

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.