10x Genomics (NASDAQ:TXG) CFO Adam Taich Sells 8,968 Shares of Stock

10x Genomics (NASDAQ:TXG) CFO Adam Taich sold 8,968 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $18.58, for a total value of $166,625.44. Following the completion of the sale, the chief financial officer owned 288,417 shares of the company’s stock, valued at $5,358,787.86. This trade represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

10x Genomics Stock Performance

Shares of TXG stock traded up $0.56 on Wednesday, hitting $19.66. The company’s stock had a trading volume of 2,444,719 shares, compared to its average volume of 2,765,983. The company has a market capitalization of $2.51 billion, a PE ratio of -56.17 and a beta of 2.24. 10x Genomics has a fifty-two week low of $6.78 and a fifty-two week high of $23.56. The stock’s 50 day moving average is $18.99 and its 200-day moving average is $15.91.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Thursday, February 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. 10x Genomics had a negative net margin of 6.77% and a negative return on equity of 6.89%. The firm had revenue of $166.03 million for the quarter, compared to analyst estimates of $160.35 million. During the same quarter in the prior year, the business posted ($0.40) EPS. The business’s revenue was up .6% compared to the same quarter last year. On average, research analysts forecast that 10x Genomics will post -1.43 earnings per share for the current year.

Institutional Trading of 10x Genomics

Hedge funds have recently added to or reduced their stakes in the stock. Foundations Investment Advisors LLC bought a new stake in 10x Genomics during the 3rd quarter worth $665,000. Jump Financial LLC raised its position in 10x Genomics by 130.2% in the second quarter. Jump Financial LLC now owns 1,041,051 shares of the company’s stock valued at $12,055,000 after purchasing an additional 588,769 shares during the last quarter. AlphaQuest LLC boosted its stake in shares of 10x Genomics by 234.3% during the third quarter. AlphaQuest LLC now owns 133,419 shares of the company’s stock valued at $1,560,000 after purchasing an additional 93,514 shares in the last quarter. Friedenthal Financial bought a new stake in shares of 10x Genomics during the third quarter worth about $924,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of 10x Genomics during the third quarter worth about $1,179,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Stifel Nicolaus upped their target price on 10x Genomics from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Leerink Partners dropped their price target on 10x Genomics from $22.00 to $20.00 and set a “market perform” rating for the company in a research note on Tuesday, January 27th. Canaccord Genuity Group set a $22.00 price objective on shares of 10x Genomics in a research note on Friday, February 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of 10x Genomics in a report on Monday, December 22nd. Finally, Deutsche Bank Aktiengesellschaft set a $17.00 target price on shares of 10x Genomics and gave the company a “hold” rating in a research report on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $18.11.

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.