10x Genomics (NASDAQ:TXG) CFO Adam Taich Sells 46,388 Shares of Stock

10x Genomics (NASDAQ:TXG) CFO Adam Taich sold 46,388 shares of the company’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $64.57, for a total value of $2,995,273.16. Following the sale, the chief financial officer owned 316,344 shares of the company’s stock, valued at approximately $20,426,332.08. This represents a 12.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Adam Taich also recently made the following trade(s):

• On Monday, August 24th, Adam Taich sold 17,166 shares of 10x Genomics stock. The shares were sold at an average price of $63.02, for a total value of $1,081,801.32.

10x Genomics Trading Up 3.3%

TXG opened at $68.59 on Friday. The firm has a market cap of $8.94 billion, a price-to-earnings ratio of -116.25 and a beta of 2.08. 10x Genomics has a 12 month low of $11.16 and a 12 month high of $69.67. The stock has a fifty day moving average price of $53.68 and a 200-day moving average price of $35.00.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data 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. 10x Genomics had a negative return on equity of 9.33% and a negative net margin of 12.18%.The company had revenue of $151.04 million for the quarter, compared to the consensus estimate of $146.67 million. During the same quarter last year, the company earned $0.28 earnings per share. The firm’s revenue for the quarter was down 12.7% compared to the same quarter last year. On average, equities research analysts forecast that 10x Genomics will post -0.75 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TXG. Leerink Partners boosted their price objective on shares of 10x Genomics from $23.00 to $40.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. Morgan Stanley raised their target price on shares of 10x Genomics from $37.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Canaccord Genuity Group lifted their price target on shares of 10x Genomics from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Piper Sandler upped their price target on 10x Genomics from $42.00 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Finally, Barclays increased their price objective on 10x Genomics from $30.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Five equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $44.00.

Hedge Funds Weigh In On 10x Genomics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC purchased a new stake in 10x Genomics during the 2nd quarter worth approximately $1,279,000. Integrated Wealth Concepts LLC raised its holdings in shares of 10x Genomics by 34.9% in the second quarter. Integrated Wealth Concepts LLC now owns 21,645 shares of the company’s stock worth $830,000 after buying an additional 5,595 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of 10x Genomics during the second quarter worth $2,069,000. Arizona State Retirement System lifted its stake in shares of 10x Genomics by 1.5% during the second quarter. Arizona State Retirement System now owns 29,223 shares of the company’s stock worth $1,120,000 after buying an additional 430 shares during the period. Finally, Nykredit A S acquired a new stake in shares of 10x Genomics during the second quarter worth $126,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

10x Genomics Company Profile

10x Genomics, Inc develops life science technology for analyzing biological systems at the single-cell and spatial levels. Its platforms are designed to help researchers study gene expression, genetic variation, cell populations and tissue organization with greater detail than conventional laboratory methods.

The company’s product portfolio includes the Chromium platform for single-cell analysis, Visium solutions for spatial transcriptomics and tissue profiling, and Xenium in situ platforms for high-resolution analysis of RNA and other biological features within tissue samples.