10x Genomics (NASDAQ:TXG) CFO Sells $368,995.12 in Stock

10x Genomics (NASDAQ:TXG) CFO Adam Taich sold 15,098 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $24.44, for a total transaction of $368,995.12. Following the completion of the sale, the chief financial officer owned 379,898 shares of the company’s stock, valued at $9,284,707.12. This trade represents a 3.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

10x Genomics Price Performance

Shares of TXG stock traded up $0.89 during mid-day trading on Wednesday, hitting $25.51. The stock had a trading volume of 3,568,979 shares, compared to its average volume of 2,644,869. 10x Genomics has a fifty-two week low of $8.41 and a fifty-two week high of $26.44. The firm has a market cap of $3.24 billion, a PE ratio of -150.06 and a beta of 2.05. The company’s 50-day simple moving average is $21.85 and its 200-day simple moving average is $19.80.

10x Genomics (NASDAQ:TXG) last released its earnings results on Thursday, May 7th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.19. 10x Genomics had a negative net margin of 3.55% and a negative return on equity of 2.86%. The company had revenue of $150.84 million during the quarter, compared to analysts’ expectations of $146.41 million. During the same quarter last year, the business earned ($0.28) EPS. The business’s revenue was up 9.4% on a year-over-year basis. On average, analysts expect that 10x Genomics will post -0.82 EPS for the current year.

Hedge Funds Weigh In On 10x Genomics

Several hedge funds have recently added to or reduced their stakes in TXG. Geneos Wealth Management Inc. purchased a new position in 10x Genomics during the 4th quarter valued at about $38,000. Larson Financial Group LLC increased its holdings in 10x Genomics by 164.4% during the 4th 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 purchased a new position in 10x Genomics during the 1st quarter valued at about $50,000. Abich Financial Wealth Management LLC purchased a new position in 10x Genomics during the 3rd quarter valued at about $56,000. Finally, Van ECK Associates Corp increased its holdings in 10x Genomics by 85.9% during the 4th quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock valued at $60,000 after acquiring an additional 1,695 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on TXG. Barclays raised their target price on shares of 10x Genomics from $22.00 to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 14th. Bank of America increased their price target on shares of 10x Genomics from $21.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, April 20th. Stifel Nicolaus increased their price target on shares of 10x Genomics from $20.00 to $25.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Morgan Stanley increased their price target on shares of 10x Genomics from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Finally, Zacks Research downgraded shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $23.17.

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.