10x Genomics (NASDAQ:TXG) Insider Sells $145,407.08 in Stock

10x Genomics (NASDAQ:TXG) insider Benjamin Hindson sold 7,826 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $18.58, for a total value of $145,407.08. Following the completion of the transaction, the insider directly owned 424,779 shares in the company, valued at $7,892,393.82. This trade represents a 1.81% 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 hyperlink.

10x Genomics Stock Up 2.9%

Shares of NASDAQ TXG traded up $0.56 during trading on Wednesday, reaching $19.66. 2,444,719 shares of the stock were exchanged, compared to its average volume of 2,765,983. 10x Genomics has a twelve month low of $6.78 and a twelve month high of $23.56. The business’s 50-day moving average price is $18.99 and its 200 day moving average price is $15.91. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of -56.17 and a beta of 2.24.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Thursday, February 12th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. The firm had revenue of $166.03 million during the quarter, compared to the consensus estimate of $160.35 million. 10x Genomics had a negative return on equity of 6.89% and a negative net margin of 6.77%.10x Genomics’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.40) earnings per share. As a group, sell-side analysts expect that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TXG shares. TD Cowen upped their price target on 10x Genomics from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Friday, February 13th. Deutsche Bank Aktiengesellschaft set a $17.00 target price on shares of 10x Genomics and gave the company a “hold” rating in a research note on Friday, February 13th. Canaccord Genuity Group set a $22.00 target price on shares of 10x Genomics in a report on Friday, February 13th. Wall Street Zen lowered shares of 10x Genomics from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Finally, Citigroup downgraded shares of 10x Genomics from a “buy” rating to a “cautious” rating in a research report on Thursday, December 11th. Four investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $18.11.

Institutional Investors Weigh In On 10x Genomics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP increased its holdings in shares of 10x Genomics by 150.4% in the second quarter. Allworth Financial LP now owns 2,271 shares of the company’s stock valued at $26,000 after buying an additional 1,364 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in 10x Genomics in the fourth quarter worth approximately $38,000. Larson Financial Group LLC boosted its stake in shares of 10x Genomics by 164.4% during the 4th quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock worth $39,000 after acquiring an additional 1,470 shares in the last quarter. True Wealth Design LLC grew its stake in 10x Genomics by 1,552.5% in the 2nd quarter. True Wealth Design LLC now owns 3,586 shares of the company’s stock valued at $42,000 after buying an additional 3,369 shares during the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new stake in 10x Genomics in the 3rd quarter valued at approximately $56,000. 84.68% of the stock is currently owned by institutional investors.

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.