10x Genomics (NASDAQ:TXG) Insider Benjamin Hindson Sells 13,818 Shares of Stock

10x Genomics (NASDAQ:TXG) insider Benjamin Hindson sold 13,818 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $63.02, for a total value of $870,810.36. Following the sale, the insider owned 488,182 shares in the company, valued at $30,765,229.64. This represents a 2.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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%

Shares of TXG opened at $64.26 on Thursday. 10x Genomics has a 12-month low of $11.16 and a 12-month high of $66.94. The business has a 50-day simple moving average of $47.02 and a two-hundred day simple moving average of $31.29. The stock 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 results on Thursday, August 6th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.10. The firm had revenue of $151.04 million for the quarter, compared to analyst estimates of $146.67 million. 10x Genomics had a negative return on equity of 9.33% and a negative net margin of 12.18%.The business’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same period last year, the firm posted $0.28 earnings per share. On average, equities research analysts expect that 10x Genomics will post -0.75 EPS for the current year.

Institutional Trading of 10x Genomics

Large investors have recently modified their holdings of the stock. ARK Investment Management LLC increased its stake in shares of 10x Genomics by 6.6% in the 4th quarter. ARK Investment Management LLC now owns 12,667,369 shares of the company’s stock valued at $206,605,000 after acquiring an additional 779,973 shares in the last quarter. Amova Asset Management Americas Inc. boosted its stake in 10x Genomics by 2.0% during the fourth quarter. Amova Asset Management Americas Inc. now owns 5,486,153 shares of the company’s stock worth $89,424,000 after acquiring an additional 109,270 shares in the last quarter. Millennium Management LLC boosted its stake in 10x Genomics by 84.7% during the third quarter. Millennium Management LLC now owns 5,437,969 shares of the company’s stock worth $63,570,000 after acquiring an additional 2,494,142 shares in the last quarter. Quantinno Capital Management LP grew 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 worth $114,892,000 after purchasing an additional 744,558 shares during the period. Finally, California State Teachers Retirement System grew its holdings in 10x Genomics by 3,700.4% in the second quarter. California State Teachers Retirement System now owns 4,679,895 shares of the company’s stock worth $179,427,000 after purchasing an additional 4,556,753 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Key Headlines Impacting 10x Genomics

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.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TXG shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 10x Genomics in a research note on Wednesday, June 24th. Piper Sandler increased their price objective on 10x Genomics from $42.00 to $47.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Canaccord Genuity Group raised their target price on 10x Genomics from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Stephens upped their price target on 10x Genomics from $50.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Finally, Leerink Partners raised their price objective on 10x Genomics from $23.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, July 17th. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, 10x Genomics has a consensus rating of “Hold” and an average target price of $38.31.

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.