Insider Selling: 10x Genomics (NASDAQ:TXG) Insider Sells 11,595 Shares of Stock

10x Genomics (NASDAQ:TXG) insider Benjamin Hindson sold 11,595 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 502,000 shares in the company, valued at approximately $12,268,880. This represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

10x Genomics Stock Performance

Shares of TXG traded up $0.89 during mid-day trading on Wednesday, reaching $25.51. The company had a trading volume of 3,568,979 shares, compared to its average volume of 2,644,869. The firm has a 50-day moving average price of $21.85 and a 200 day moving average price of $19.80. 10x Genomics has a 52 week low of $8.41 and a 52 week high of $26.44. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of -150.06 and a beta of 2.05.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.19. The business had revenue of $150.84 million for the quarter, compared to analysts’ expectations of $146.41 million. 10x Genomics had a negative return on equity of 2.86% and a negative net margin of 3.55%.The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.28) EPS. As a group, research analysts forecast that 10x Genomics will post -0.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TXG. UBS Group upped their price objective on 10x Genomics from $14.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. TD Cowen upped their price objective on 10x Genomics from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Friday, February 13th. William Blair raised 10x Genomics from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 31st. Bank of America upped their price objective on 10x Genomics from $21.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 10x Genomics in a research report on Friday, March 27th. Four equities research 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. Based on data from MarketBeat.com, 10x Genomics has a consensus rating of “Hold” and an average price target of $23.17.

Hedge Funds Weigh In On 10x Genomics

Hedge funds and other institutional investors have recently modified their holdings of the company. Geneos Wealth Management Inc. bought a new position in shares of 10x Genomics during the 4th quarter valued at $38,000. Larson Financial Group LLC lifted its holdings in shares of 10x Genomics by 164.4% during 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 bought a new position in shares of 10x Genomics during the 1st quarter valued at $50,000. Van ECK Associates Corp lifted its holdings in shares of 10x Genomics by 85.9% during 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 during the period. Finally, Abich Financial Wealth Management LLC bought a new position in shares of 10x Genomics during the 3rd quarter valued at $56,000. 84.68% of the stock is owned by institutional investors.

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.