10x Genomics (NASDAQ:TXG) CFO Adam Taich Sells 17,166 Shares of Stock

10x Genomics (NASDAQ:TXG) CFO Adam Taich sold 17,166 shares of the stock in a transaction on 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 approximately $22,859,370.64. This trade represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

10x Genomics Trading Down 0.7%

TXG stock traded down $0.46 during midday trading on Wednesday, hitting $64.26. The stock had a trading volume of 3,076,435 shares, compared to its average volume of 2,891,627. The firm has a market cap of $8.37 billion, a P/E ratio of -108.91 and a beta of 2.03. The business has a fifty day moving average price of $46.38 and a two-hundred day moving average price of $30.97. 10x Genomics has a 1-year low of $11.16 and a 1-year high of $66.94.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its holdings in 10x Genomics by 3,700.4% in the second quarter. California State Teachers Retirement System now owns 4,679,895 shares of the company’s stock worth $179,427,000 after acquiring an additional 4,556,753 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of 10x Genomics by 241.3% during the second quarter. AQR Capital Management LLC now owns 4,137,801 shares of the company’s stock valued at $47,916,000 after acquiring an additional 2,925,372 shares in the last quarter. Millennium Management LLC raised its position in shares of 10x Genomics by 84.7% during the third quarter. Millennium Management LLC now owns 5,437,969 shares of the company’s stock worth $63,570,000 after purchasing an additional 2,494,142 shares during the period. Wellington Management Group LLP lifted its holdings in shares of 10x Genomics by 126.6% in the 3rd quarter. Wellington Management Group LLP now owns 4,285,628 shares of the company’s stock worth $50,099,000 after purchasing an additional 2,394,355 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of 10x Genomics by 207.2% in the 2nd quarter. Quantinno Capital Management LP now owns 2,233,526 shares of the company’s stock worth $25,864,000 after purchasing an additional 1,506,530 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on TXG. JPMorgan Chase & Co. raised their target price on 10x Genomics from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Stephens increased their price target on 10x Genomics from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Canaccord Genuity Group raised their price objective on shares of 10x Genomics from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Piper Sandler lifted their price objective on shares of 10x Genomics from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Finally, TD Cowen reiterated a “hold” rating on shares of 10x Genomics in a research report on Wednesday, July 15th. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $38.31.

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.