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

10x Genomics (NASDAQ:TXG) CFO Adam Taich sold 17,166 shares of the stock in a transaction on 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 directly owned 362,732 shares in the company, valued at approximately $22,859,370.64. This trade represents a 4.52% decrease in their ownership of the stock. The transaction 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 Stock Down 0.7%

TXG stock opened at $64.26 on Thursday. 10x Genomics has a 52 week low of $11.16 and a 52 week high of $66.94. The business has a 50-day simple moving average of $47.02 and a 200 day simple moving average of $31.29. The company has a market cap of $8.37 billion, a PE ratio of -108.91 and a beta of 2.03.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.33%. The firm had revenue of $151.04 million for the quarter, compared to the consensus estimate of $146.67 million. During the same period in the prior year, the company posted $0.28 earnings per share. The business’s revenue for the quarter was down 12.7% on a year-over-year basis. On average, analysts anticipate that 10x Genomics will post -0.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on TXG. TD Cowen restated a “hold” rating on shares of 10x Genomics in a research report on Wednesday, July 15th. Citigroup upped their target price on 10x Genomics from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Canaccord Genuity Group raised their target price on 10x Genomics from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday, August 10th. Leerink Partners lifted their price target on 10x Genomics from $23.00 to $40.00 and gave the company a “market perform” rating in a research note on Friday, July 17th. Finally, Morgan Stanley boosted their price target on 10x Genomics from $37.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Five 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 stock. According to data from MarketBeat.com, 10x Genomics presently has an average rating of “Hold” and a consensus target price of $38.31.

Key 10x Genomics News

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

• Neutral Sentiment: CEO Serge Saxonov, CFO Adam Taich and insider Benjamin J. Hindson collectively sold approximately $3.12 million of TXG shares. Each sale was made to cover tax-withholding obligations tied to vested equity awards, which makes the transactions less bearish than discretionary open-market selling. The executives retained substantial positions after the sales. CEO insider sale SEC filing CFO insider sale SEC filing Insider sale SEC filing
• Neutral Sentiment: Director Shehnaaz Suliman sold 2,207 shares worth approximately $140,476, reducing her ownership by 6.96%. Unlike the executive transactions, the filing does not identify tax withholding as the reason for the sale, creating a modestly more cautious signal. Director insider sale SEC filing
• Neutral Sentiment: Reported short interest was zero shares as of August 25, unchanged from the prior report. This produces a zero-day short ratio, but the figure is likely a data-reporting anomaly and provides little actionable insight into TXG’s trading outlook.

Institutional Investors Weigh In On 10x Genomics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its position in 10x Genomics by 806.4% during the 1st quarter. Royal Bank of Canada now owns 182,836 shares of the company’s stock worth $1,597,000 after purchasing an additional 162,665 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in 10x Genomics by 163.5% in the first quarter. Goldman Sachs Group Inc. now owns 645,366 shares of the company’s stock valued at $5,634,000 after buying an additional 400,430 shares in the last quarter. Focus Partners Wealth acquired a new stake in 10x Genomics in the first quarter valued at approximately $92,000. Legal & General Group Plc grew its stake in shares of 10x Genomics by 5.7% during the second quarter. Legal & General Group Plc now owns 110,864 shares of the company’s stock worth $1,284,000 after buying an additional 5,985 shares during the last quarter. Finally, American Century Companies Inc. bought a new stake in shares of 10x Genomics during the second quarter worth $933,000. 84.68% of the stock is owned by institutional investors.

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.