Benjamin Hindson Sells 13,818 Shares of 10x Genomics (NASDAQ:TXG) Stock

10x Genomics (NASDAQ:TXG) insider Benjamin Hindson sold 13,818 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $63.02, for a total value of $870,810.36. Following the completion of the transaction, the insider directly owned 488,182 shares of the company’s stock, valued at approximately $30,765,229.64. The trade was a 2.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

10x Genomics Price Performance

10x Genomics stock opened at $64.85 on Friday. The business has a 50 day simple moving average of $47.62 and a 200 day simple moving average of $31.62. The company has a market capitalization of $8.45 billion, a PE ratio of -109.91 and a beta of 2.03. 10x Genomics has a one year low of $11.16 and a one year high of $66.94.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results 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 firm had revenue of $151.04 million for 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%.The business’s revenue was down 12.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.28 earnings per share. Equities analysts anticipate that 10x Genomics will post -0.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On 10x Genomics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. bought a new position in shares of 10x Genomics in the fourth quarter worth about $38,000. Larson Financial Group LLC increased its holdings in shares of 10x Genomics by 164.4% in the fourth quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock valued at $39,000 after purchasing an additional 1,470 shares in the last quarter. Fifth Third Bancorp acquired a new stake in shares of 10x Genomics in the first quarter valued at approximately $50,000. 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 last quarter. Finally, Van ECK Associates Corp raised its position in 10x Genomics by 85.9% in the 4th quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock worth $60,000 after purchasing an additional 1,695 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Key Headlines Impacting 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.

Analyst Upgrades and Downgrades

TXG has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of 10x Genomics in a research report on Wednesday, June 24th. Barclays raised their price objective on shares of 10x Genomics from $30.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Zacks Research downgraded 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Canaccord Genuity Group increased their price target on 10x Genomics from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, TD Cowen reaffirmed a “hold” rating on shares of 10x Genomics in a report on Wednesday, July 15th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $38.31.

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.