10x Genomics (NASDAQ:TXG) CFO Sells $166,625.44 in Stock

10x Genomics (NASDAQ:TXG) CFO Adam Taich sold 8,968 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $18.58, for a total transaction of $166,625.44. Following the completion of the sale, the chief financial officer directly owned 288,417 shares of the company’s stock, valued at $5,358,787.86. The trade was a 3.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

10x Genomics Stock Up 4.2%

Shares of 10x Genomics stock opened at $23.05 on Friday. 10x Genomics has a 12-month low of $6.78 and a 12-month high of $23.56. The firm has a market capitalization of $2.94 billion, a PE ratio of -65.86 and a beta of 2.24. The stock’s fifty day moving average is $19.33 and its 200-day moving average is $16.05.

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

Analysts Set New Price Targets

Several analysts have commented on the stock. Canaccord Genuity Group set a $22.00 target price on shares of 10x Genomics in a research report on Friday, February 13th. Barclays lifted their price objective on shares of 10x Genomics from $17.00 to $22.00 and gave the company an “overweight” rating in a research note on Monday, December 15th. Stifel Nicolaus upped their price objective on shares of 10x Genomics from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Leerink Partners cut their target price on 10x Genomics from $22.00 to $20.00 and set a “market perform” rating on the stock in a report on Tuesday, January 27th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of 10x Genomics in a research note on Monday, December 22nd. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, 10x Genomics has an average rating of “Hold” and a consensus price target of $18.11.

Institutional Investors Weigh In On 10x Genomics

Several hedge funds have recently made changes to their positions in the stock. Allworth Financial LP raised its holdings in 10x Genomics by 150.4% in the 2nd quarter. Allworth Financial LP now owns 2,271 shares of the company’s stock valued at $26,000 after acquiring an additional 1,364 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of 10x Genomics during the 4th quarter worth approximately $38,000. Larson Financial Group LLC increased its position in shares of 10x Genomics by 164.4% during the fourth quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock valued at $39,000 after purchasing an additional 1,470 shares during the period. True Wealth Design LLC raised its stake in shares of 10x Genomics by 1,552.5% in the second quarter. True Wealth Design LLC now owns 3,586 shares of the company’s stock valued at $42,000 after purchasing an additional 3,369 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of 10x Genomics by 85.9% in the fourth quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock valued at $60,000 after purchasing an additional 1,695 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

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.