Benjamin Hindson Sells 11,595 Shares of 10x Genomics (NASDAQ:TXG) Stock

10x Genomics (NASDAQ:TXG) insider Benjamin Hindson sold 11,595 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $24.44, for a total transaction of $283,381.80. Following the transaction, the insider owned 502,000 shares in the company, valued at $12,268,880. The trade was a 2.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

10x Genomics Price Performance

Shares of NASDAQ TXG opened at $27.99 on Friday. The firm’s 50 day simple moving average is $22.23 and its two-hundred day simple moving average is $19.98. 10x Genomics has a one year low of $8.81 and a one year high of $28.17. The stock has a market capitalization of $3.55 billion, a P/E ratio of -164.65 and a beta of 2.05.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.19. 10x Genomics had a negative return on equity of 2.86% and a negative net margin of 3.55%.The firm 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 company’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities analysts expect that 10x Genomics will post -0.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TXG shares. Bank of America raised their price objective on 10x Genomics from $21.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, April 20th. TD Cowen raised their target price on shares of 10x Genomics from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Friday, February 13th. Stifel Nicolaus raised their target price on shares of 10x Genomics from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Morgan Stanley raised their target price on shares of 10x Genomics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Finally, Zacks Research cut shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $23.17.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Edgestream Partners L.P. bought a new position in shares of 10x Genomics in the first quarter worth approximately $1,233,000. Bull Harbor Capital LLC bought a new position in shares of 10x Genomics in the first quarter worth approximately $248,000. EverSource Wealth Advisors LLC grew its holdings in shares of 10x Genomics by 16.4% in the first quarter. EverSource Wealth Advisors LLC now owns 7,186 shares of the company’s stock worth $153,000 after purchasing an additional 1,012 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of 10x Genomics by 3.5% in the first quarter. The Manufacturers Life Insurance Company now owns 49,048 shares of the company’s stock worth $1,041,000 after purchasing an additional 1,661 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in 10x Genomics by 16.0% in the first quarter. Quantinno Capital Management LP now owns 5,411,761 shares of the company’s stock valued at $114,892,000 after acquiring an additional 744,558 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.