Insider Selling: 10x Genomics (NASDAQ:TXG) Insider Sells 11,595 Shares of Stock

10x Genomics (NASDAQ:TXG) insider Benjamin Hindson sold 11,595 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $24.44, for a total value of $283,381.80. Following the completion of the sale, the insider owned 502,000 shares of the company’s stock, valued at $12,268,880. This trade represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 NASDAQ:TXG traded up $0.89 during midday trading on Wednesday, hitting $25.51. The company had a trading volume of 3,568,979 shares, compared to its average volume of 2,644,869. The company has a market cap of $3.24 billion, a price-to-earnings ratio of -150.06 and a beta of 2.05. 10x Genomics has a 12-month low of $8.41 and a 12-month high of $26.44. The company has a fifty day moving average of $21.85 and a two-hundred day moving average of $19.80.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.19. The firm had revenue of $150.84 million during the quarter, compared to analyst estimates of $146.41 million. 10x Genomics had a negative return on equity of 2.86% and a negative net margin of 3.55%.10x Genomics’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.28) EPS. Research analysts expect that 10x Genomics will post -0.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TXG shares. Morgan Stanley upped their price objective on 10x Genomics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. Barclays upped their price objective on 10x Genomics from $22.00 to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 14th. William Blair upgraded 10x Genomics from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 31st. JPMorgan Chase & Co. increased their price target on 10x Genomics from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Finally, TD Cowen increased their price target on 10x Genomics from $18.00 to $19.00 and gave the stock a “hold” rating in a research note on Friday, February 13th. 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.17.

Institutional Investors Weigh In On 10x Genomics

Institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. purchased a new stake in 10x Genomics in the 4th quarter worth $38,000. Larson Financial Group LLC increased its stake in 10x Genomics by 164.4% in the 4th quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock worth $39,000 after buying an additional 1,470 shares in the last quarter. Fifth Third Bancorp purchased a new position in shares of 10x Genomics during the first quarter valued at about $50,000. Abich Financial Wealth Management LLC purchased a new position in shares of 10x Genomics during the third quarter valued at about $56,000. Finally, Van ECK Associates Corp grew its position in shares of 10x Genomics by 85.9% during 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. Hedge funds and other institutional investors own 84.68% of the company’s stock.

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.