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

10x Genomics (NASDAQ:TXG – Get Free Report) insider Benjamin Hindson sold 13,818 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $63.02, for a total transaction of $870,810.36. Following the transaction, the insider directly owned 488,182 shares of the company’s stock, valued at $30,765,229.64. The trade was a 2.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

10x Genomics Trading Down 0.7%

10x Genomics stock traded down $0.46 during trading on Wednesday, hitting $64.26. The company had a trading volume of 3,076,435 shares, compared to its average volume of 2,891,627. 10x Genomics has a 1-year low of $11.16 and a 1-year high of $66.94. The company’s 50 day simple moving average is $46.38 and its 200-day simple moving average is $30.97. The stock has a market cap of $8.37 billion, a price-to-earnings ratio of -108.91 and a beta of 2.03.

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10x Genomics (NASDAQ:TXG – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.14) EPS for the quarter, topping 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 analysts’ expectations of $146.67 million. During the same period in the prior year, the firm earned $0.28 earnings per share. The firm’s revenue was down 12.7% compared to the same quarter last year. As a group, analysts forecast that 10x Genomics will post -0.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Piper Sandler boosted their price target on shares of 10x Genomics from $42.00 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Stifel Nicolaus set a $50.00 price objective on 10x Genomics in a research note on Friday, August 7th. Stephens lifted their target price on 10x Genomics from $50.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Barclays boosted their target price on 10x Genomics from $30.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Finally, Leerink Partners upped their price target on 10x Genomics from $23.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday, July 17th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $38.31.

Get Our Latest Stock Analysis on TXG

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TXG. Elevation Wealth Partners LLC raised its stake in 10x Genomics by 332.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 1,487 shares of the company’s stock worth $57,000 after acquiring an additional 1,143 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in 10x Genomics in the fourth quarter valued at $38,000. Larson Financial Group LLC boosted its stake in 10x Genomics by 164.4% in the fourth quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock valued at $39,000 after acquiring an additional 1,470 shares in the last quarter. Fifth Third Bancorp acquired a new position in 10x Genomics in the first quarter valued at $50,000. Finally, Nykredit A S purchased a new position in shares of 10x Genomics during the second quarter worth about $126,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

About 10x Genomics

(Get Free Report)

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.

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