Adam Taich Sells 46,388 Shares of 10x Genomics (NASDAQ:TXG) Stock

10x Genomics (NASDAQ:TXG) CFO Adam Taich sold 46,388 shares of the business’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $64.57, for a total transaction of $2,995,273.16. Following the completion of the transaction, the chief financial officer directly owned 316,344 shares in the company, valued at $20,426,332.08. This represents a 12.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Adam Taich also recently made the following trade(s):

• On Monday, August 24th, Adam Taich sold 17,166 shares of 10x Genomics stock. The stock was sold at an average price of $63.02, for a total transaction of $1,081,801.32.

10x Genomics Stock Performance

TXG stock opened at $68.59 on Friday. The stock has a market capitalization of $8.94 billion, a PE ratio of -116.25 and a beta of 2.08. The company has a fifty day moving average of $53.68 and a 200-day moving average of $35.00. 10x Genomics has a one year low of $11.16 and a one year high of $69.67.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. The business had revenue of $151.04 million for the quarter, compared to analyst estimates of $146.67 million. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.33%. The business’s revenue was down 12.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.28 earnings per share. Equities analysts forecast that 10x Genomics will post -0.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TXG has been the subject of a number of analyst reports. Zacks Research downgraded 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Barclays lifted their price target on 10x Genomics from $30.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. UBS Group initiated coverage on 10x Genomics in a report on Wednesday. They set a “neutral” rating and a $68.00 price objective on the stock. Morgan Stanley increased their price objective on 10x Genomics from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Finally, Canaccord Genuity Group raised their target price on 10x Genomics from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday, August 10th. Five research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, 10x Genomics currently has a consensus rating of “Hold” and an average price target of $44.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. 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. Fifth Third Bancorp purchased a new position in 10x Genomics in the 1st quarter valued at approximately $50,000. Elevation Wealth Partners LLC increased its stake in 10x Genomics by 332.3% in the 2nd quarter. Elevation Wealth Partners LLC now owns 1,487 shares of the company’s stock valued at $57,000 after purchasing an additional 1,143 shares in the last quarter. Van ECK Associates Corp raised its holdings in 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 purchasing an additional 1,695 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in 10x Genomics by 203.9% during the second quarter. EverSource Wealth Advisors LLC now owns 7,490 shares of the company’s stock worth $87,000 after purchasing an additional 5,025 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

About 10x Genomics

10x Genomics, Inc develops life science technology for analyzing biological systems at the single-cell and spatial levels. Its platforms are designed to help researchers study gene expression, genetic variation, cell populations and tissue organization with greater detail than conventional laboratory methods.

The company’s product portfolio includes the Chromium platform for single-cell analysis, Visium solutions for spatial transcriptomics and tissue profiling, and Xenium in situ platforms for high-resolution analysis of RNA and other biological features within tissue samples.