10x Genomics (NASDAQ:TXG) CFO Sells $1,081,801.32 in Stock

10x Genomics (NASDAQ:TXG – Get Free Report) CFO Adam Taich sold 17,166 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $63.02, for a total transaction of $1,081,801.32. Following the sale, the chief financial officer owned 362,732 shares of the company’s stock, valued at $22,859,370.64. This trade represents a 4.52% decrease in their position. The transaction was disclosed in a legal filing 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 Stock Performance

Shares of TXG stock opened at $61.54 on Friday. The firm has a market cap of $8.02 billion, a price-to-earnings ratio of -104.30 and a beta of 2.03. 10x Genomics has a 52 week low of $11.16 and a 52 week high of $66.94. The firm’s 50-day simple moving average is $48.16 and its two-hundred day simple moving average is $31.83.

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10x Genomics (NASDAQ:TXG – Get Free Report) last released its earnings results 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 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 analysts’ expectations of $146.67 million. During the same period in the previous year, the company earned $0.28 earnings per share. The company’s quarterly revenue was down 12.7% on a year-over-year basis. Analysts forecast that 10x Genomics will post -0.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Stephens upped their price objective on 10x Genomics from $50.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Zacks Research downgraded 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Leerink Partners boosted their target price 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 10x Genomics in a research report on Wednesday, June 24th. Finally, Canaccord Genuity Group increased their price target on 10x Genomics from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $38.31.

Read Our Latest Research Report on TXG

Institutional Trading of 10x Genomics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Geneos Wealth Management Inc. bought a new position in 10x Genomics in the 4th quarter worth approximately $38,000. Larson Financial Group LLC grew its stake in 10x Genomics by 164.4% in the 4th quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock valued at $39,000 after buying an additional 1,470 shares in the last quarter. Fifth Third Bancorp bought a new stake in 10x Genomics during the 1st quarter valued at $50,000. Elevation Wealth Partners LLC raised its holdings in 10x Genomics by 332.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 1,487 shares of the company’s stock valued at $57,000 after acquiring an additional 1,143 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of 10x Genomics by 85.9% during the fourth quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock worth $60,000 after acquiring an additional 1,695 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

10x Genomics Company Profile

(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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