Adam Taich Sells 8,968 Shares of 10x Genomics (NASDAQ:TXG) Stock

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

10x Genomics Trading Up 12.6%

10x Genomics stock opened at $22.13 on Friday. The firm has a 50 day simple moving average of $19.19 and a 200 day simple moving average of $15.98. 10x Genomics has a 1-year low of $6.78 and a 1-year high of $23.56. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of -63.23 and a beta of 2.24.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results 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 return on equity of 6.89% and a negative net margin of 6.77%.The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the company earned ($0.40) earnings per share. On average, equities research analysts forecast that 10x Genomics will post -1.43 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price target on 10x Genomics from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, November 7th. Leerink Partners reduced their price objective on shares of 10x Genomics from $22.00 to $20.00 and set a “market perform” rating for the company in a research note on Tuesday, January 27th. Barclays upped their target price on shares of 10x Genomics from $17.00 to $22.00 and gave the stock an “overweight” rating in a report on Monday, December 15th. TD Cowen boosted their price target on shares of 10x Genomics from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Friday, February 13th. Finally, Bank of America set a $21.00 price target on shares of 10x Genomics in a report on Monday, January 12th. Four investment 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, the company currently has an average rating of “Hold” and a consensus price target of $18.11.

Key Stories Impacting 10x Genomics

Here are the key news stories impacting 10x Genomics this week:

• Positive Sentiment: Quarterly results beat expectations: 10x reported revenue and an EPS beat in its Feb. 12 quarter (revenue roughly $166M, EPS better than consensus), which supports upside momentum and underpins recent analyst target increases. MarketBeat TXG Coverage
• Positive Sentiment: Analyst updates lifted sentiment: Several firms nudged price targets higher or reiterated constructive stances (examples cited include TD Cowen, Stifel, UBS and Canaccord), giving traders cover to buy after the earnings beat. Analyst Note
• Neutral Sentiment: Short?interest reports appear unreliable: data entries show a large “increase” but list 0 shares / NaN and a 0.0 days?to?cover figure — likely a reporting glitch. This makes short?interest an unclear signal for near?term pressure. (No reliable link available in the alert feed.)
• Negative Sentiment: Insiders sold a material block of shares last week: CEO Serge Saxonov, CFO Adam Taich and other executives sold shares on Feb. 23 (multi?thousand share dispositions; examples: CEO ~9,632 shares, CFO ~8,968, Benjamin Hindson ~7,826). Large insider sales can weigh on sentiment and prompt investor caution even if labeled routine diversification. InsiderTrades Alert TipRanks Coverage

Institutional Investors Weigh In On 10x Genomics

Several hedge funds have recently bought and sold shares of the stock. Allworth Financial LP grew its stake in 10x Genomics by 150.4% in the 2nd quarter. Allworth Financial LP now owns 2,271 shares of the company’s stock worth $26,000 after buying an additional 1,364 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of 10x Genomics during the 4th quarter worth $38,000. Larson Financial Group LLC lifted its holdings 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 during the last quarter. True Wealth Design LLC grew its position in 10x Genomics by 1,552.5% in the second quarter. True Wealth Design LLC now owns 3,586 shares of the company’s stock worth $42,000 after acquiring an additional 3,369 shares in the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new position in 10x Genomics in the third quarter worth $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.